Kyeya Development Company Limited

Company Description

A development company entering into Agriculture & agribusiness plus into real estate. The company seeks to stimulate economic development in the corridor. The shareholders are a team of development enthusiasts seeking to meet some of the key Social Development Goals in Zambia. The company was registered in Zambia intially to tackle the shortage of housing in the North Western Province and now seeks to develop an agricultural estate to supply the food requirements for the Smart City it seeks to construct in the Lobito Corridor. The Smart City is at Masterplanning stage. The shareholders are spread as follows:

• 85% shares owned by entities that are foreign owned
• 15% shares owned by Zambian entities.
• The Community in which Smart City the project is located holds 10% of the shares in the company.

Team

The key team members and shareholders are:

• Tjiriange (Pvt) Limited
• Kremio Clemio Machingaifa - an agriculturalist turned banker with more than 40 years working experience in agricultural extension, banking and consultancy.
• Hanshell Mwansa - a Zimbabwean with extensive training and experience in ICT and has worked in various sectors - banking technology, FinTech, Consultancy in the region and abroad. Retired but still active in consulting sector.
• Jessica Agrippah Trust - A trust set up in Mauritius that has an interest in agriculture, real estate and renewable energy. The trust seeks to invest in these sectors in Southern Africa.
• A Trustee - Mrs Moreblessed Mabaso represents the interest of the Trust on Kyeya Board.
• Global Network Solutions - a Zambian registered NGO with an interest in the economic development of Zambia. Its interest are represented by Mrs Bridget banda on the board of Kyeya.
• Global Network Solutions in projects where it encourages the youth, women and disadvantaged members of society to be economically empowered. They run programmes and projects to achieve this objective. Some of their projects are agricultural and that taps into the collaborative areas of the objectives of Kyeya Development Company.

Countries of Operation

Zambia

Ownership of Company

Local Company (15% Local, 85% Other)

Number of years since incorporated

1 Years

Stage

Early Venture

Annual Revenue (in EUR)

EUR 0 - 10,000

Number of employees

1-10

Project Pitch

Kyeya Agricultural Estate. The project involves developing an agricultural estate along the Copperbelt Region of Zambia. The area containing the Lobito Corridor is generally rich in soils, good rainfall patterns which support the proposed venture. The project addresses some of the key challenges in Zambia and the SADC Region- poverty. The project provides a source of locally grown food, creates employment on the estate and in downstream industries. It seeks to grow field and greenhouse crops over at least 22 500 hectares under irrigation. The proposed crops include maize, soyabeans, groundnuts, butternuts, mange tout, onions, tomatoes, peas, beans, garlic, turmeric, ginger, etc. The Smart City must secure most of its food requirements from the estate. The markets for the crops to be grown include Zambia, Zimbabwe, Malawi, Mozambique, Tanzania, Democratic republic of Congo (DRC) and Europe. Europe favours organically grown horticultural crops.

Total Project Cost (in EUR)

EUR 296,561,500

Financing needs (in EUR)

EUR 296,561,500

Type of financing needed

Equity; Debt

Planned allocation of fundraising capital

Greenfield (new activity for the company)