ZEDF launches $2.8 million pilot project to boost non-traditional agribusiness exports

The Zambia Export Development Fund (ZEDF) has launched a US$2.8 million pilot programme to finance agribusiness projects, in a bid to create new opportunities for local exporters in the non-traditional sector and strengthen the country’s participation in regional markets.

To raise awareness, ZEDF on Thursday convened a high-level meeting at Lusaka’s Intercontinental Hotel, bringing together industry players and development partners to discuss opportunities, challenges and strategies for growing Zambia’s Non-Traditional Exports (NTEs).

ZEDF Manager, David Chewe, said the initiative will channel a US$2.6 million line of credit and an additional US$200,000 for technical support.

He said the funding was expected to enhance linkages between farmer associations and private sector agribusinesses along the value chain, while improving market access for crops such as cassava, beans, maize, honey and other high-value produce.

Chewe explained that the key targets under the pilot include full loan repayments with no losses, a 10 percent increase in capacity to service export crops, and at least US$10 million in export earnings during the trial phase.

He reaffirmed the fund’s commitment to helping entrepreneurs scale up production, but noted that uptake of available financing remained low, largely due to limited export readiness.

“We have money, but they are not coming to us. Our aim is to finance entrepreneurs ready to leverage their assets and scale up. We also support market access through different financing instruments designed for their use,” Chewe said.

He lamented that Zambia’s participation in regional trade stood at just three percent despite being surrounded by multiple neighbouring markets.

“Improving this requires awareness and capacity building. Our expectation is that after this workshop, entrepreneurs will take advantage of the financing available. We have mobilised new sources of finance to help diversify the economy and create more private sector jobs,” Chewe said.

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