This is according to Jason Kazilimani, a senior partner and chief executive of financial services firm, KPMG, who believes that the Southern African country holds promising economic prospects and opportunities in various sectors such as infrastructure, energy and mining but more specifically in agriculture.
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“Agriculture will remain a key avenue for future investment and growth in Zambia. We have good weather with soils that are rich in minerals and can reap all types of food,”
Not only does Zambia hold an average gross domestic product (GDP) growth rate of 7.1 per cent, but is also one of Africa’s most politically stable countries.
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Kazilimani explained however that while is that there is a lot of lip service being given to the opportunities in agriculture, only 14 per cent of Zambia’s land is being used for arable farming when in fact 58 per cent of the land should be used.
“The land is significantly underused and there is huge potential to be realised. Added to this, current agricultural activity is predominantly during the rainy season between April and October, and for four months of the year there is nearly no activity,”
(WATCH VIDEO: Exploring Zambia’s focus on agribusiness)
Zambia has the third largest water resources on the continent. With sufficient investment into irrigation and water infrastructure, Kazilimani believes that access to Zambia’s water resources would be largely improved and would also create opportunities for different crops to be farmed all year round.