$250m to boost agro sector
Published On March 3, 2014 » 1959 Views» By Hildah Lumba » Business, Stories
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The Zambian agriculture is to receive a major boost following plans by a German Agro firm to invest a total of US$250 million in the sector this year.
German Ambassador to Zambia Bernd Finke said Agriculture Company will engage in the production of various crops to enhance agriculture production in the country.
Mr Finke said Germany remains ready to support Zambia in the promotion of foreign investments in the country and strengthening the private sector as well as Public Private Partnerships (PPPs).
He said the venture to be set up in Zambia would be the biggest agro investment in Africa by a German firm.
“We have seen the first German investment in Zambia made by Amatheon Agri, a German Agro-business investor who has started an impressive farming plot near Mumbwa and is  already considering expanding to other parts of the country.
“Another major German agricultural company is currently looking at a US$250 million investment in Zambia, which will be the biggest agro investment in Africa,” Mr Finke said.
He said Zambia’s long history of peace and stability and immense wealth in natural resources as well as the country’s impressive growth rates is an advantage in terms of attracting investments.
Mr Finke said the country had one of the most fertile, but mostly unused lands with good climate which makes it easy to grow crops or cattle farming which German investors should take advantage of.
He said the country needed to solve the challenge of weak infrastructure especially regarding energy supply and transport, corruption and  bureaucracy to ease the cost of doing business.

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