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Friday, 21 June 2013

Investment Watch (ZAMPALM)

ZAMPALM, a newly created subsidiary of Zambeef Products located in Mpika district of Muchinga Province will create 2,000 new jobs next year as the company starts harvesting fruits and processing palm oil.  The company has invested about KR 7.5 million on its palm oil plantation in Mpika from part of its US$ 41 million total investment for the palm oil production which will include the setting up of a cracker to process the palm oil. ZAMPALM's Trusted Mwiinga says the project is on course.  

ZAMPALM has a 20,000 hectare plantation which was set up in Mpika. It will process around 100,000 tonnes of palm oil per annum when fully operational.

It is a little hard to know his many of the 2,000 jobs are transitory. But this expansion can only be music to Mpika ears! Of course what usually happens often is that migrant labour diminishes opportunities for rural dwellers. With rural poverty at 80% and urban poverty around 40%, it would be great if more of the jobs were taken by rural dwellers. If they can't take the jobs, it may be due to poor education. So government needs to do its bit to up the game. I am not suggesting for a moment that jobs should be ring fenced. Merely hinting at the challenge we have in reducing rural unemployment. But I suppose we are all Zambians.

Chola Mukanga | Economist | Writer 
Copyright © Zambian Economist 2013

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