Africa-Press – Angola. Six new financial cooperation agreements, for the agribusiness sector in Angola, were Thursday in Luanda signed by several public and private officials.
The agreements, which will take effect immediately, includes state-owned financial institutions and companies such as Noble Group, Jardins da Yoba, JF Fonseca, Tropical Green, Fruit and Vegetable, as well as the Huambo Agricultural Research Institute.
At the time, the national director of social and economic studies, Domingos Sobrinho, stated that the documents are linked to the diversification of the economy, the promotion of national production, the strengthening of food security levels and the creation of new jobs in the country.
The official, who is also the event’s spokesperson, stressed that the projects must be implemented immediately and will be monitored through periodic reports on physical and financial progress, as well as their social and economic impact.
Domingos Sobrinho emphasized the authorities’ commitment to supporting initiatives that promote food sovereignty and balanced and inclusive growth, ensuring institutional support.
“The government will continue to promote the valorization and integration of food production chains, from family farming to industrialization and even export”, he concluded.
Agreements
The Poupança e Crédito (Savings and Credit) bank (BPC) and the Agrarian Development Support Fund (FADA) signed an agreement to implement a AOA 2.5 billion credit line for families, called “50-Year Credit,” intended to finance 50 agricultural projects.
In the financial domain, the Agrarian Fund and the J.F. Fonseca civil construction company, signed a agreement to set up fruit pulp factory at the Catumbela Industrial Hub, with focus in the local production of mango, passion fruit and pineapple
Meanwhile, the Angola Sovereign Fund (FSA) signed two memoranda of understanding, one with Noble Group to implement sugar and alcohol production in Bengo and Malanje. The project, valued at USD 250 million, will include a factory to produce 150,000 tonnes of sugar per year and a distillery to process 36 million litres annually.
Similarly, the FSA and Tropical Green, Fruits and Vegetables, Lda agreed to set up a 1,000-hectare farm to produce avocados for export in the province of Huambo, with an investment of 43.5 million euros.
In the field of technical cooperation, the Development Bank of Angola (BDA) signed an agreement with Jardins da Yoba company for applied research in agriculture.
Similarly, the BDA and the Huambo Agricultural Research Institute signed an agreement to promote applied scientific research that will contribute to the modernisation of national agriculture.
The signing of the Memoranda of Understanding took place on the sidelines of the Economic Team meeting and was witnessed by its members, under the coordination of the Minister of State for Economic Coordination, José de Lima Massano.
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