The Zambian government is inviting investors to participate in the growing and processing of Artemesia Annua. A derivative from this plant is used in producing a drug effective in combating and treating malaria.
Names of promoters: Ministry Of Health/Ministry of Agriculture
Location of the project: Land to be made available by the Ministry of Agriculture, this land was identified by the Land Banks committee.
Project description: This is a greenfield project. Several studies and trials have been undertaken to kickstart the process. Similar drugs are currently being imported at high cost to the government and the partners involved in making the drugs available to the Zambian people.
Market: This drug will be supplied to the Ministry of Health, other countries in the region and private practitioners. Malaria is a serious problem in many regions in Africa and the related disease burden is significant.
Availability of inputs: To be sourced by company, for the encouragement of out grower schemes, ASNAP will provide seeds to local farmers to grow Artemisia Annua and they can then supply it to the potential investors.
Incentives available:
- Dividends shall be exempted from tax for 5 years from the year of first declaration
- Capital Expenditure on improvement or for the upgrading of infrastructure shall qualify for improvement allowance of 100% of such expenditure
- Suspended Customs Duty to zero for 5 years on machinery and equipment.
- Unrestricted externalization of ‘After-Tax’ income shall be allowed.
- A corporate tax of 0% for an initial period of 5 years from the first year profits are made. For years 6 to 8 corporate tax will be paid on 50% of profits and in year 9 to 10 on 75% of the
profits
Contact: Ms Florence Mumba, Director: Investment Promotion and Privatisation, Zambia Development Agency
email: fmumba@zda.org.zm
