UK-based Chayton Capital announced an investment of US$20 million to purchase and expand six irrigated farms across Zambia. Neil Crowder, the company’s managing partner stated that Chayton will invest an additional US$30 million of equity investments into the expansion of primary production and other agribusinesses in the country bringing Chayton’s total investment to US$50 million. The goal of the investment is to improve farmland irrigation and techniques and achieve economic scale through irrigation across the value chain. The produce from the farms will be sold locally and within the sub-Saharan African market. Although many investors are wary of investing in African nations, Mr. Crowder states that Chayton has found a positive investment atmosphere in Zambia and that the Zambian government has been welcoming of foreign direct investment in sectors such as agriculture with the goal of diversifying and strengthening the national economy.
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free weekly enhanced eNews service