<p></p><p>The Citizens Economic Empowerment Commission has approved a K22 million ($3.6 million USD) loan facility to scale up Western Province's cashew nut industry that will trigger an unprecedented export market.</p> <p>Following a board meeting held earlier this month, the CEEC has decided to facilitate the provision of a K22 million loan designed to assist cashew nut growers build capacity and expand the industry towards an industrial scale enabling the processing of large quantities of cashew nuts to be fed into domestic and export markets.</p> <p>CEEC director general, Likando Mukumbuta said, in an interview in Lusaka on Monday, that the financing would enable the growth of about 2.7 million new trees, which would see the expansion of the sector and stimulate the export market. </p><p>"The commission has agreed to support the Western cashew industry by helping them raise K22 million within 2014 so that we can start the expansion programme. K10 million ($1.6 million USD) is going to be used for helping small-scale farmers develop 2.7 million new trees in their orchards, which they are going to grow over the next three years so that they become the main suppliers," Mukumbuta said.</p> <p>He said the remaining K12 million ($1.9 million USD) would go towards importing raw cashew nuts and new equipment, supporting and developing staff, as well as bringing in expertise to help train farmers and growers and to run the industry more efficiently. "That K12 million is going to be used to import raw cashew from other countries such as Tanzania and Mozambique so that they can be processing the raw cashew and delivering processed products for the local market as well as for export while the plantations are growing over the next three to four years," he said. </p><p>And Mukumbuta said the commission was attempting to 'reposition' Zambia as an export-oriented economy with the cashew nut sector being key. "What we are doing now is that we are positioning Zambia to play a role that India plays where we can actually import raw material, add value and get the benefit of the processing and the export," said Mukumbuta. </p><p>According to the business plan, the projected gross annual turnover is expected to be K45 million ($7.3 million USD) by 2021. One per cent of this is expected to be generated from domestic sales, with the remaining 99 per cent from export sales.<br></p><p></p>