Categories: Uncategorized

Green Crop Field Investment to Invest US$72m in Chibombo

Green Crop Field Investment Limited has announced plans to invest US $72 million in Paprika production and processing in Chief Liteta’s area in Chibombo District.
The private company says it intends to establish a Paprika Plantation as well as a Processing Plant on a 6,000 hectares land in Kakoma Ward.
Apart from Paprika, the Lusaka-based company will also be involved in the growing of Stevia and Marigold at the site once the project is approved by relevant Government ministries and institutions.
And Central Province Permanent Secretary Chanda Kabwe says the investment by the Lusaka-based company is a demonstration of President Edgar Lungu’s visionary leadership which has created conducive environment for investment.
Mr. Kabwe says the project also fits well into the country’s Seventh National Development Plan (7NDP) which is promoting private investment for economic development.
“We are equally glad that Green Crop Field Investment Limited is coming in our Province following a successful 2018 Investment Forum and Expo which was aimed at unveiling investment opportunities in different sectors in our region,” said Mr Kabwe.
He says the US$72 million is part of the US $432 million that the firm wants to invest in more than 80,000 hectares depending on the availability of land across Zambia.
Mr. Kabwe adds that the project has been necessitated by the friendly investment environment in the country coupled by increased demand for Paprika on the world market.
“If approved, the project would also bring electricity to this remote part of the district as well as improved road infrastructure. There is hardly doubt that the plantation and the processing plant would significantly improve the household economies of the local people and contribute to the economic development of the district as a whole,” he said.
“As Provincial Administration, we are inspired and grateful to the President for his guidance and pledge to continue to attract investment pledges and. We would like to assure him that we will remain committed to implementing friendly investment environment as enshrined in the 7NDP.”

___________________________________________________________________________

MONEY FM IS ZAMBIA’S FIRST AND ONLY BUSINESS & PERSONAL FINANCE RADIO STATION. WE FOCUS ON BUSINESS AND MONEY-RELATED TOPICS, AS WELL AS GENERAL NEWS AND DISCUSSION OF WIDER SOCIAL TOPICS SUCH AS HEALTH, EDUCATION, FOOD, MUSIC, FITNESS AND MORE.

____________________________________________________________________________

More From Author

Future-Proofing Your Business Building

News of the Abyssal Wonders discovery has reverberated throughout the scientific community, sparking intense interest…

Read More

Car Enthusiast’s Dream: Exploring High-Performance Models

News of the Abyssal Wonders discovery has reverberated throughout the scientific community, sparking intense interest…

Read More

The Dos and Don’ts of Professional Gatherings

News of the Abyssal Wonders discovery has reverberated throughout the scientific community, sparking intense interest…

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

SEC attributes decline in Q4 bond trades to delayed debt restructuring process

• One of the challenges is to do with the delays in finalizing the debt…

Read More

Task Force seizes 10,050 litres of illegal fuel worth K300, 000

• 22 people were arrested for offences related to illegal fuel dealings. • Illegal fuel…

Read More

The Ultimate Guide to Choosing the Right Glasses Frames

News of the Abyssal Wonders discovery has reverberated throughout the scientific community, sparking intense interest…

Read More