Business

Invest in food processing to grow economy – ZDA

THE Zambia Development Agency

KALONDE NYATI, Zhengzhoudong, China
INVESTORS have been urged to tap into Zambia’s food processing, which has potential to accelerate the agriculture value chain to grow its economy through diversification and value addition.
Zambia Development Agency (ZDA) director of investments Matongo Matamwandi told over 400 investors attending the 2017 Henan Industrial and Commercial Enterprise cross- border investment and trade fair that the country has vast investment potential for food processing, which investors should consider exploring at both large and small scale.
The Henan Industrial and Commercial Enterprise cross-border investment and trade fair is an annual event sponsored by the Bank of China and the Henan provincial leadership that brings investors from across the world to explore investment opportunities through business-to- business linkages.
Zambia is being represented by the mission here, Zambia Development Agency, Zambia Chamber of Commerce and Industry, Zambia -China Business Association and other private and public entities.
Mr Matamwandi said Zambia, which is land-linked and a member of regional blocs, creates an opportunity for investors to grow their businesses through ready markets locally and in the region.
“There is vast investment potential for food processing in the country covering both large and small-scale industries in each of the 10 provinces. [Zambia] is a land-linked country surrounded by eight countries, thus providing access to sea ports and international markets is through roads, rail, and air,” he said.
He told investors that agro-processing opportunities exist in maize, cotton, tobacco, beans and groundnuts processing in Eastern Province, while Luapula Province offers opportunities in aquaculture, cassava and maize processing.
Mr Matamwandi said investors should explore opportunities in beef, dairy and meat processing in Southern Province, pineapple canning, honey production, agro forestry, and coffee in North-Western Province and rice and maize processing in Muchinga Province.
Western and Central provinces offer opportunities in tobacco, rice and cashew nuts processing, and wheat, soya beans, sunflower and maize processing respectively.
Under the energy sector, Mr Matamwandi said with electricity demand expected to exceed 2,000 megawatts (MW) this year, investors should consider venturing in various sources of electricity.
“Demand for electricity in 2017 is expected to exceed 2,000MW domestically and 80,000MW regionally. Investment opportunities, therefore, exist in solar, geo-thermal plant, biofuel and hydro-power projects,” he said.
He also called on investors to consider partnering with Government in the development of various projects citing roads, real estate with emphasis in public office accommodation, redevelopment of the Zambia International Trade Fair Grounds, Mukuba Hotel, Twin-Palm Housing project, and a golf estate.



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