Wednesday, 4 April 2012

2 foreign investors express interest in investing in the cannery industry of north western province

Two investors one from Saudi Arabia and one from an unknown country have expressed interest in investing in the cannery industry of north western province.
According to senior chief Ntambu of the lunda people in north western province, the investors who are coming with the help of the Zambia development agency (ZDA) are set to invest in the area but have not yet mentioned how much they will bring as their investment.
Senior chief Ntambu says the coming of the two foreign investors will help revive the pineapple and cash nuts industry which has been struggling to rise up from its knees since it collapsed due to lack of the market for the two products.
Meanwhile Opposition united party for national development (UPND) mwinilunga constituency Member of Parliament Stephen katuka says lack of market availability for cash nuts and pineapples has killed the industry in north western province.
Mr. Katuka says farmers are ready to produce enough pineapples and cash nuts to feed the nation and neighboring countries, but government has not established a good market for them.
The parliamentarian says there is need for investors to be found to come and invest in processing plants which will be utilizing the pineapples and cash nuts locally produced by farmers and this will contribute greatly to the economy of the province and through improvement of people’s lives.
He says once the market is established the industry will be revamped and farmers will be able to sell their produce and earn a living out of their hard work.
mr katuka has pointed out that poverty will continue to increase in rural areas such as north western province if industry such as cannery which are viable not utilised to benefit the local communities.
mwinilunga in north western province of zambia is well known for it production of fine pineapples and cash nuts but the industry has collapsed after the only cannery company which was operating in the area was closed due to lack of capital

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