Pamwe Capital Partners targets to invest millions

HARARE - Pamwe Capital Partners, a Zimbabwean-owned company, is targeting to invest millions in the country’s agricultural sector.

Pamwe Capital Partners has been investing significantly in key sectors of the economy in Africa and Asia while leading private equity and investment research and asset management in sub-Saharan Africa.

Speaking at a breakfast meeting with government stakeholders Pamwe Capital Partners chief investment officer Cleopas Sanangura said his organisation is planning to invest millions in agro-business, energy, infrastructure development and agriculture.

“Increasing investment in these sectors is critical for achieving sustained economic growth and development.

“We will be investing in those with land from about two hectares and we are targeting serious farmers and not weekend farmers.

“Within the next rainy season we are targeting 100 000 hectares to grow soya beans. We believe that this will be a game changer that will bring investment in the country,” Sanangura said.

He added that millions would be going into farming of key crops in the economy such as soya beans, maize, ground nuts and sunflowers.

This comes as Zimbabwe has been heavily relying on imports due to the unproductiveness of the agriculture sector.

Zimbabwe is mostly reliant upon the agriculture sector, although it has not been performing well for the past few decades.

This, according to Finance and development ministry permanent secretary George Guvamatanga, has caused Zimbabwe to spend $20 million for cooking oil and $16 million for wheat imports every month.

According to Food and Agriculture Organisation (Fao), with 70 percent of Zimbabweans relying on agriculture for livelihoods, the strength of this sector is key to economic recovery.

Unproductive farms loom throughout Zimbabwe, as farmers have been failing to make meaningful investments in agriculture.

“We just had a meeting in Australia and the people there were telling us that they have a high demand of goat cheese and so we are going to leverage that demand by financing goat projects,” he added.

Lands and agriculture minister Perrance Shiri speaking at the same event, applauded the investments and said government was open to discussions which will drive the investment.

He also commended the presentation on a project on bio-energy which was said to help boost employment which will amount to 150 000 direct and indirect employment in the next few years to come.

“We would like to applaud Pamwe Capital Partners and we look forward to discussing with you the investments highlighted in your presentations,” he said.

Comments (2)

That is a daft australia....really really daft. Dai zvenyu mati chibage chemombe. Kutoshambadza zvenyu , yakazara ku varungu , vanongotumira dai chirichokwadi.

Standards not the same - 29 December 2018

A local buyer is interested in the soya. The target is 15 Million tons in Southern Africa per year. Best price for top grade naturally grown crop.

The Markets - 30 December 2018

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