President Edgar Lungu says the private sector plays a crucial role in our aspiration to become a regional economic hub.
The President says he is happy that the private sector is already taking a lead in enhancing national food security and support Government’s economic diversification agenda.
His statement follows a report which indicates that a US$81 million private sector-led input support scheme has been launched to benefit 120 commercial and 250,000 small-scale farmers in Zambia.
Zambia’s African Green Resources on Sunday launched an $81 million financing programme under which the company and its partners will provide farm supplies and technology to farmers in exchange for grain.
As part of broader plans by AGR to invest $150 million in Zambia for projects including a 50 megawatt solar farm and irrigation dam, AGR will target 120 commercial farmers and 250,000 small and middle farmers with the new programme to boost food security in Zambia and the surrounding region, Chairman Zuneid Yousuf said in a statement.
Mr Yousuf says the investment will cover 60,000 tonnes of fertiliser for wheat and soya farming-worth $55 million and $26 million for projects such as the expansion of grain storage silos.
He said this will be financed through regional and global banks, with the money repaid from the produce the programme yields.”
President Lungu said this is yet another positive worth applauding.
