FACTORS INVESTORS NEED TO KNOW ABOUT THE NEW WATER ACT By Harriet Aalyiana Mdala Over the past 5 years, large-scale acquisitions through foreign investments of farmland in Africa have intensified. Lands that only a short time ago seemed of little outside interest are now being sought by international investors to the tune of hundreds of thousands of hectares. Zambia is amongst the top 5 African countries receiving the bulk of this investment. Various factors have facilitated increased inflow of foreign investment. Amongst these are the vast resources being availability of labour, and virgin land. Another factor that has greatly contributed to such influx of investment in Zambia is the abundance of water. Forty percent of the water in Central and Southern Africa lies in Zambia in the form of rivers, lakes and swamps. These waters greatly facilitate agriculture in Zambia. The importance of these waters to investment in the Zambian agricultural sector has resulted in an increased need to regulate the acquisition of rights to water. In response to this demand, the government enacted the Water Resources Management Act of 2011 which is to date, the most comprehensive piece of legislation regulating the acquisition water rights in Zambia and which repeals and replaces the Water Act of 1949. The following are some factors that every person intending to invest in the Zambian agriculture sector should be aware of: Continue Reading zambianeye/archives/25704
Posted on: Mon, 24 Nov 2014 08:19:27 +0000
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