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Thursday, 16 March, 2017
WE WILL TURN OUR NORTHERN REGION INTO A TRADE HUB FOR THE GREAT LAKES - MUTATI
…UK firm to invest up to US$ 90 Million in the Northern Zambia Agriculture Hub
Minister of Finance Felix Mutati has said the Government intends to transform Zambia’s Northern Sector into a trade and investment hub for the Great Lakes Region; comprising Burundi, Eastern Democratic Republic of Congo, Rwanda, Western Tanzania, and Northerly Zambia [Luapula, Northern & Muchinga Provinces].
The Minister stated that, “with a potential market in excess of 45 million consumers, the Great Lakes Region provides Zambia with a greenfield prospect for advancing the country’s economic diversification agenda through cash crop agriculture, facilitation of private sector investment in world class trading amenities, and establishment of efficient water transportation systems using the Mpulungu Harbour.”
Mr. Mutati added that, “the Zambian Government is working with the African Development Bank [AfDB] to remodel Mpulungu Harbour so that it is positioned for increased trade and investments in the Great Lakes Region.”
The Minister was speaking when representatives from Agriculture Development Company [AgDevCo], a British Government Supported Company, paid a courtesy call on him at his office this afternoon.
Meanwhile AgDevCo Country Direct Nigel Seabrook has disclosed that the UK Firm intends to invest US$ 30 million in the Northern Zambia Agriculture Hub and leverage on a further US $ 60 million from financial partners and potential equity takers.
“Our mission is to build profitable businesses which link farmers to markets, create jobs, contribute to food security, and drive economic growth,” stated Mr. Seabrook.
The Northern Zambia Agriculture Hub [NZAH] is a planned venture in the Northerly Zambia that aims to capitalize on markets in Burundi, Eastern Democratic Republic of Congo, Rwanda, and Western Tanzania. Due to its strategic location near Mpulungu Harbour, NZAH has a competitive advantage due to its proximity to a huge regional market and its location in a vast area with arable land and water resources suitable for irrigation farming.
Mr. Mutati met senior representatives of AgDevCo at the UK Business Council Seminar during his recent visit to the United Kingdom.
For Ministry of Finance
HEAD – Media & Public Relations