BREAKING NEWS

Indian investor to pumps US $200m in Zimbabwe’s agricultural sector

Mr. Harinder Pal Singh Bajwa, an Indian investor, is set to pump US $200m into Zimbabwe’s agricultural sector. The move has since been attributed to the new economic policies put in place under the Second Republic led by President Mnangagwa. The investment in Mashonaland West’s agricultural sector is projected to create 5 000 jobs.

According to media reports, the established Indian spent two months exploring business opportunities in Zimbabwe. Mr Bajwa met Sable Chicken group chief executive Mr Sean Eastwood and the Zanu-PF provincial leadership in Chegutu to discuss his immediate investment plans in the area.

Some of the projects are expected to start at the beginning of next year. Moreover, one of Mr Bajwa’s investment vehicles, Flamingo Farms, will be moving into citrus production. This includes mango, banana and potato seed. Mr. Bajwa said that he will major in vegetables in orchards. He further added that the mover will be a joint venture with local farmers in areas like Chegutu, Chakari and Kadoma.

According to him, the initiative will work such that the joint venture will share the proceeds equally after expenses. Currently, he has land currently being prepared in Chakari, which when complete is projected to provide 1000 jobs. This, he says, is in addition to plans for setting up a fruit processing plant in Chegutu.

Mr. Bajwa explained that there will be both direct and indirect forms of employment, especially in the case of the fruit processing plant. He added that the products will be exported to Europe and the Middle East, especially in Dubai, where they have ready markets.

The businessman said he also has plans to import latest state-of-the-art agricultural infrastructure once he fully sets up base in Zimbabwe.

 


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Farmers Review Africa
Farmers Review Africa
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