Seven investors have pledged nearly K1 billion to develop farm blocks in Zambia’s Copperbelt, Northern, Luapula and North-Western provinces, said Agriculture Minister Michael Katambo.
Katambo said one of the anchor investors, Seventh China Railway Group, will invest in development of infrastructure at the cost of K390 million at Kalungwishi Farm Block, Northern Province.
“We have signed 7 memoranda with local and foreign investors to develop vast hectares of land in identified farm blocks. This will translate into massive job creation,” he said.
A Botswana firm has committed nearly K300 million to develop 10 000 hectares at Mansya Farm Block, while Sanuma Zambia committed K110 million in North-Western Province. Others were South African, Sudanese, Jordanian and Indian firms with a combined investment of K260 million to develop farm blocks in other parts of Zambia.
It is estimated that a total of nearly 40 000 hectares and 5 000 jobs will be created from the investment in the various farm blocks. Development of farm blocks forms part of Zambia’s drive of developing agriculture infrastructure to accelerate economic diversification through agriculture.