ANGOLA- E20 Investment, an Abu Dhabi-based agribusiness investment company, and Dubai Investments have signed a Memorandum of Understanding (MOU) to develop 3,750 Ha of agricultural land in Angola.
E20 Investment invests in and operates farms and processing facilities across the globe, with a particular focus on Europe, Central Asia, and Africa.
The company boasts a wealth of knowledge from various corners of the world, highlighting international expertise in the agricultural industry.
Meanwhile, Dubai Investments is a major player in the economy of Dubai and the UAE, with investments in diversified sectors and markets across the globe spanning real estate, industrial, financial, healthcare, and education among others.
The two entities aim at harnessing the potential of the country’s agricultural sector for sustainable growth and economic development.
This MoU is focused on developing a vast area of leased-out land in Angola, and the project’s objective is to cultivate rice and avocado crops, leveraging Angola’s fertile soil and favorable climate conditions to achieve substantial yields.
According to the Coalition of Africa Rice Development, rice consumption in Angola is high, being the most consumed cereal after maize. However, about 90% of its supply in the national market is from imports.
Over the next 18 months, the joint venture aims to transform the leased-out land into a thriving agricultural hub, resulting in a projected production of 28,000 tons of rice and 5,500 tons of avocados, reducing overreliance on imports.
Commenting on the joint venture, Khalid bin Kalban, Vice Chairman and CEO of Dubai Investments, said that through this collaboration, along with the overall development of the area, the Group would contribute to Angola’s food security, enhancing the country’s agricultural productivity while generating economic value for all involved stakeholders.
“E20 Investment brings extensive experience in managing large-scale agricultural projects, ensuring the implementation of cutting-edge technologies and sustainable farming practices. Their expertise will be instrumental in maximizing the project’s efficiency, productivity, and profitability,” he added.
Kalban added that Dubai Investments is already investing in the Angolan market with the ongoing development of the Dubai Investments Park ( DIP) Angola, highlighting the Group’s caliber in creating highly successful mixed-use development parks.
According to Sultan Al Jaberi, CEO of E20 Investment, the MoU represents a significant step towards promoting agricultural development in Angola, fostering economic diversification, and nurturing a sustainable future.
“By combining our expertise with Dubai Investments’ vast network and resources, we are confident in our ability to create a successful agricultural project in Angola that will contribute to the country’s economic growth and employment opportunities,” he noted.
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