-most profitable crops in the world.
FFF chairman and project manager, Osmund Ueland said in a statement yesterday that the company has raised the first US$350,000 for the investment in the earth dam, and hopes that new investors can inject an additional US$950 000 to set up the irrigation infrastructure and facilities to facilitate rainwater-harvesting for irrigation on a 250-hectare farm of seed maize and macadamia, an investment that is expected to kick-off from October 2022.
According to Ueland, irrigation is the key investment that unlocks the potential of these highly profitable crops and removes the vagaries of weather and climate.
“Irrigation would promote successful production of seed maize and macadamia nuts, which are high value products with prospects to significantly raise the Farm profitability and contribute towards raising household incomes in the area through hundreds of employment in the farm”, said Ueland.
He emphasized that the investment in high-value crops will be a strong engine in the development of the communities around the Farm by turning more than 2,000 smallholders and medium size farmers into outgrowers and would uplift thousands from poverty through development programmes.
The number of permanent and temporary employees will increase a lot, and many macadamia outgrowers will develop around FFF.
Ueland said investors in FFF should make prudent decisions because agriculture is a long-term investment. “I believe investors with a long-term investment vision would find this project exciting. Full production starts after seven years which means investors will have to wait for five years for their first dividend from macadamia nuts, although investors with a medium-term horizon would still attain a higher re-sale value once planting starts in 2022.”
Helping the poorest farmers move from subsistence to semi-commercial farming and young mothers become self-sufficient while contributing to food security and nutrition in Tanzania, are noble outcomes from this investment.