Q FM Africa's Modern Radio
The Savenda Group of Companies has secured a $7.5 million from the United States Development Finance Corporation (DFC) for the construction of the ZambiaFresh Lusaka Market from which over three million Zambian small-scale farmers are expected to benefit.
The loan is among 34 key transactions totaling $1.4 billion approved for various projects around the world focusing on development priorities such as food security, climate change, gender equity and increasing access to financing.
DFC chief executive officer Scott Nathan says the loans are for projects that advance development impact across Africa, Asia, Eastern Europe, Latin America and the Caribbean.
In a press release in Washington in United States availed to QTV News, Mr. Nathan says the diverse set of transactions approved by the DFC board would make real impact across a range of sectors and development challenges.
“These transactions showcase how DFC strategically catalyses private capital where it matters most. I want to thank the board for their work and support for these ideals,” he said.
Last month, Savenda Group executive chairman Clever Mpoha disclosed to the Voice of America’s Peter Clottey on the Nightline Africa programme that the construction of the ZambiaFresh Lusaka Market would commence in July and be operational before the end of the year.
The innovative market system will be sourcing fresh produce from smallholder farmers, decreasing food waste and improving households’ access to nutritious foods.
It will be Africa’s first commission-agent and formal fresh produce market outside of South Africa and will enable farmers to trade in a modern, hygienic and safe trading environment.
Mr. Mpoha says the ZambiaFresh Lusaka Marketwould be constructed on 11 hectares of land in the Lusaka Multi-facility Economic Zone
He says the ZambiaFresh Lusaka Market would be constructed according to international standards in collaboration with the Savenda Group partners in the USA and the United Kingdom.
The one-stop food hub centre will help small-scale farmers aggregate their freshly-farmed produce and contribute to Zambia’s gross domestic product.
“Basically, the market will have modern facilities, a trading platform for horticultural produce, meaning all the vegetables, all the tomatoes, all the green peppers and things like that,” MrMpoha said.
The market will have a food hub, a market, commercial buildings and an aeroponics facility which is the process of growing plants in an air or mist environment without the use of soil or an aggregate medium.
“In this particular opportunity or innovation, the market will be the first of its kind that allows three million small-scale producers and commercial farmers to be able to have their produce packaged and sold to all supermarkets locally and abroad,” he said.
Mr. Mpoha says the ZambiaFresh Lusaka Market will be like a stock exchange of fresh produce which will be grown to meet international standards for it to be exported.
“Our philosophy, basically, is that when you look after farmers, everyone benefits,” said Mr. Mpoha whose conglomerate has a network of international partnerships in the USA, Europe, the Middle East and the Asia-Pacific region.