Zambia spending about half a billion dollars annually on banana imports is projected to be reducing year on year as the revamping of banana production in Luapula province by the Industrial Developments Cooperation – IDC starts to post returns.
The Industrial Development Corporation (IDC) says the recapitalized Mununshi Fruit Company Limited (MFCL) is expected to harvest 1,425 tonnes of bananas from the already planted 30ha noting that 343 metric tonnes of bananas have been harvested so far.
IDC Head of Corporate Communication Namakau Mukelabai said IDC is investing in expanding the estate by an additional 100 hectares in the coming year and in preparation for this expansion, 55 hectares out of the planned 100 hectares for expansion has been cleared – out of which 20 hectares has been ploughed in readiness for planting.
In an exclusive interview with the Zambian Business Times-ZBT, Mukelabai said while the first fruit was taken up by two local off takers, MFCL currently has six (6) off takers from Lusaka and Copperbelt Provinces respectively and plans are underway to onboard an additional two, to bring the number to eight (8).
She said prior to the inaugural harvest, MFCL had 50 workers but now the company has employed an additional 86 workers to expedite the expansion program. She noted that IDC expects MFCL to play a significant role in making Zambia self-sufficient in banana production, while slowly plugging the gap of importation of the fruit saving the economy the much needed forex.
Mununshi Fruit Company Limited is a company located in Mwense District of Luapula Province and wholly owned by the Industrial Development Corporation (IDC). The IDC has so far invested K19.2 million in the banana plantation, to procure suckers, irrigation equipment, land clearing and rehabilitation of support infrastructure
Full-scale production at the estate started in mid-2020, when the company planted 50,000 banana plants on a 30 hectares plantation. The first harvest of the fruit begun in August 2021. See other articles on banana production in Zambia as Zambia spending US$432k on banana imports.
However, it remains to be seen if the new government will hold down some of these strategic investments and continue with planned additional investments which would turn Zambia into a net banana exporter in the medium term.
Zambia’s currency – the Kwacha continues to come under pressure due to mainly skewed decision making were the government and key economic players prefer to import goods and services at the expense of local Agro development or manufacturing. Some have blamed this tendency on corrupt decision makers who prefer to cut deals to import than invest in long term local production.
