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Sata urges investors to take advantage of Zambia's investment climate

Sata urges investors to take advantage of Zambia's investment climate
By Masuzyo Chakwe
Wed 13 June 2012, 13:23 CAT

PRESIDENT Michael Sata has urged investors to take advantage of the conducive investment climate currently obtaining in Zambia. President Sata yesterday met MASDAR Group, a UK-based agro multinational with over 35 years experience in Greenfield investments world-wide.

During the meeting, MASDAR Group chairman Michael Slater presented two projects designed to boost food production and create employment in rural Zambia. This is according to a statement issued by special assistant to the President for press and public relations George Chellah.

Slater informed President Sata that one project was an agricultural investment by international banks and the other is an employment generation initiative for rural areas.

"The proposal is to double-crop 12,000 hectares, with soybean and maize in summer and wheat in the winter plus a beef feedlot. All crops will be completely irrigated and the operation will be complemented by an out-grower scheme, to the extent of 20 per cent of our own harvest," Slater said.

"The rationale is to increase productivity of under-utilised fertile land and to grow wheat and sunflowers, which are in increasing demand, and maize which will be fed with sunflower meal to fatten beef cattle."

The project which is planned to kick-off in the 2013 farming season with an initial 1000 hectares and rise to 12,000 hectares by 2018, is set to boost soya, wheat, maize and cattle production thereby creating jobs and raising rural households' income.

In response, President Sata encouraged the investors to quickly come to Zambia as the Ministry of Agriculture and Cooperatives, relevant government departments and the organised farmers' groups would be at hand to assist them set up their operation.

Labels: FDI, GEORGE CHELLAH, MICHAEL SATA

posted by MrK @ 2:19 PM