Chinese firms seek business opportunities at Zambia agricultural show

Chinese companies based in Zambia have thronged Zambia's premier business event to seek business opportunities and establish more footprints.

Various Chinese companies are among international companies from 20 countries participating at the 89th Agricultural and Commercial Show, a five day event held in Lusaka, the country's capital.

Chen Yuanyuan, office director of the Bank of China (Zambia) limited (BOC) told Xinhua that the bank was participating at the show in order to promote its financial products and services to the Zambian people.

"Since its establishment, BOC has been facing Zambian people to provide a comprehensive range of financial services, including personal financial services, financial services, international trade settlement and other services," she said.

The bank, she said, has also been promoting the Chines currency on the Zambian market, with some other commercial banks in the country opening RMB settlement accounts in BOC. The bank has been conducting RMB business since 2011 and has been designated by the country's central bank as the RMB clearing bank in the country.

The bank, which started operating in Zambia in 1997, has increased its assets and is currently ranked fifth among the country's 19 financial institutions.

Joshua Makonko, marketing manager from Chingases Company Limited, another Chinese firm engaged in the distribution of various gases for heating purposes, said the company was exhibiting at the show because it wanted to expand its customer base and establish a footprint in various parts of the country.

"With the current load shedding (power cuts) the country is facing, the use of gases for heating purposes is the best alternative for the country and we want to take advantage of this show to market our products," he said.

The company, established in 2006, is among four companies in Zambia providing various gases such as industrial gases, acetylene, argon, nitrogen and carbon dioxide, among others.

David Sakala, sales manager from CAMCO Equipment Zambia Limited, a Chinese firm involved in the distribution of Chinese made construction, engineering, agricultural, animal husbandry and fishery equipment, said the show provides a best platform to showcase latest technology from China on the Zambian market.

"We are here because we want to penetrate the commercial farmers, so far we have established close links with small and emerging farmers and we are hoping to catch more commercial farmers," he said.

The company, he said, has a range of equipment from the production part up to the value addition of various agricultural products, adding that the company was keen to help Zambia add value to its agricultural products by providing affordable equipment.

The theme for this year's show is "Innovation Beyond the Golden Jubilee" and the event was officially opened by Malawian President Peter Mutharika on Saturday.

The show, organized by the Agriculture and Commercial Society of Zambia, is Zambia's premier agriculture and commercial show held for five days ending on Farmers' Day on the first Monday of August.

The first show was held in 1919 and has been held every year thereafter with the exception of the years 1921, 1941 to 1946 because of the first and second world wars, and in 1966 as well due to problems with neighboring Zimbabwe.

The show offers a platform for cultural exchanges regionally and internationally which is a catalyst for economic development of any country. It is also Zambia's mirror reflecting the nation's economic growth and its potential to the outside world.

According to a statement released by the organizers, many farmers, traders, manufacturers look forward to this window each year looking for networking and business opportunities.

It also provides a platform for exchange in agriculture, agribusiness, trade information and commercial as well as creating opportunities to show case emerging farming technologies, product innovation and value addition. Endit