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Tuesday, May 21, 2024
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Zambia Agricultural Show creates new investment opportunities for Zimbabwe

Story by Theophilus Chuma

THE ongoing Lusaka Agro and Commercial Show has presented an opportunity for Zimbabwean firms to expand their horizons in terms of export trade.

Zimbabwe has tapped into the massive opportunities created through the prestigious event with confirmation that some local firms have secured deals worth over US$300 000 during the exhibition in Lusaka last week.

Positive leads and increased interest in Zimbabwean products in key sectors such as horticulture and manufacturing, have set the tone for enhanced export earnings from the neighboring country.

“We had huge interest from players in the agricultural sector who are willing to take strawberry exports from Zimbabwe. We see this as a huge opportunity, especially given the fact that the government is currently focused on reviving the horticultural sector,” said an exhibitor.

Another added, “We have leads on mining and construction interests as we made engagements with several players from Zambia. We are now in further engagements with one firm to start supplying equipment which we anticipate starting next year.”

“We are very impressed with the response from Zambia as first-time exhibitors. We are now looking at establishing here in Zambia after some critical deliberations with Zambian officials on the possibility of this venture,” another reiterated.

Godknows Simbanegavi is an executive with a Zimbabwean firm that has established its roots in Zambia.

He says the Lusaka exhibition fair is a launch pad for local firms to invest in Zambia.

“We have established business in Zambia and through this space, we continue to build new interests from participating at this fair, ” he said.

Zimbabwe and Zambia have a Memorandum of Understanding to implement a joint industrialisation project spearheaded under COMESA which targets to promote self-sustained, balanced, and inclusive economic growth between the two countries.

The positive traction on export earnings from Zambia, which have strengthened to over US$90 million in the last five years, is projected to further grow beyond US$100 million through enhanced business.

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