Groundnuts play an integral role in the livelihoods of the majority of the Zambian population, particularly the rural households. Despite its importance, the sector, unlike cotton or maize, has not shown significant growth in production in the last decade. The study seeks to provide new insights on investment opportunities along the groundnuts value chain in Zambia for farmers, private and public actors. The study is primarily based on a qualitative survey conducted among key actors in the groundnuts value chain in Eastern Province. To support the qualitative analysis, the study utilizes survey data from the nationally representative Crop Forecast Surveys (CFS) which has a sample of 13200 households. The study also utilizes recent data from Rural. Agricultural Livelihoods Survey (RALS) conducted in 2012 and covering the 2010/11 agricultural season. RALS covered 8,839 smallholder households nationwide. The key findings of the study are: (i) Persistently low yields of groundnuts in the country significantly contributing to low production levels despite over 8% of total cultivated land dedicated to groundnuts and nearly half of the smallholder farmers growing the crop. (ii) Approximately 80% of the groundnuts are grown for home consumption leaving very little for the market. (iii)Lowand unpredictable prices.(iv)High levels of aflatoxin contamination caused by poor drying and storage methods of groundnuts. This paper highlights some critical pathways for increasing the private and public sector participation at different stages. More broadly, coordination of the public and private investment in groundnuts is essential for raising productivity and profitability.