ZAMPALM, a recently created subsidiary of Zambeef Products has so far cultivated 3,000 hectares of palm trees in Mpika in Northern Province where it has employed more than 2,000 people. Commerce, Trade and Industry Minister Felix Mutati said in an interview that the firm had projected an investment target of more than US$60 million at the plantation.
The firm invested K7.5 billion on its palm oil plantation in Mpika part of its $41 million total investment earmarked for palm oil production which would include setting up a processing mill.
“The palm project in Mpika District is one of the largest employers and they have so far created opportunities of more than 2,000 people and their target investment is over $60 million,” Mr Mutati said.
The firm would also set up an oil processing plant in the district and was likely to push up the employment figures.
“Their logic is that it will be easier to process the palm oil within Mpika in order to transport the finished products to the various markets which are key industries,” the minister said.
It was important to drive economic activities in rural areas for the economic growth to trickle down to locals.
“Our biggest challenge is how to tackle rural poverty and come up with investment openings that will create income generating opportunities for the people in rural areas.
“Taking agriculture industries such as the Zampalm project to the rural areas will help tackle the rural poverty which is more than 70 per cent.”
“In Northern Province there are key projects that we are promoting such as the cocoa processing plant, Zampalm project and the revival of the Kasama coffee plantation. All these are aimed at tackling poverty through the creation of employment,” he said.
Zampalm, a subsidiary of Zambeef, is investing billions of Kwacha in the palm plantation in Mpika District, which is the first of its kind in the province.
The firm has acquired 20,000 hectares of land for the project in Senior Chief Kopa’s area.
[Times of Zambia]