Newly formed investment firm, Rural Development Investment Initiative Trust (Rudevit) says it is geared to spearhead economic development by exploiting the wealth potential of the rural areas through investments.
In a statement, the firm’s interim chairperson Hastings Bofomo Nyirenda said Rudevit will help to turn the economic history of the country.
“Citizens have joined in to invest alongside Rudevit Limited to spearhead economic development, which will lead to improved agricultural productivity, industrialisation, value addition, creating of employment and new markets.
“Rudevit has partnered with the public to invest in Rudevit Holdings plc, an investment company created solely to invest in several profit-oriented subsidiaries across the economy in the country,” he said.
Nyirenda said through Rudevit Limited, there will be creation of employment at various income levels, provision of access to new markets, improving agricultural productivity by the local and rural farmers and development of infrastructure,” he said.
Meanwhile, the Ministry of Trade, Industry and Tourism is set to roll out the National Rural Industrialisation Strategy to spur economic growth.
The ministry’s Principal Secretary Ken Ndala said the strategy seeks to provide a framework for a coordinated approach among government ministries, departments and agencies and non-State actors.