14 September 2017

Angola: Malanje - Sovereign Fund Invests U.S. $20 Million in Pedras Negras Farm

Malanje — Twenty million US dollars is the amount to be invested gradually by the Angolan Sovereign Fund at the Pedras Negras farm, located in Cacuso municipality, Malanje province, for agricultural production and promotion of self-sufficiency of families in the field of the economic diversification process.

The information was provided on Wednesday by the head of public relations at Quantum Global Group, the company that manages the Treasury, Reginalda Pedro, on the sideline of a visit he paid there to verify the actions that have been carried out on the farm by the Angolan Sovereign Fund.

He said that the investment started in 2016, and has so far been used 4.2 million dollars in the purchase of agricultural equipment and inputs, which will contribute to the production and processing of cereals, such as sorghum, soy, cornflour and feeds.

On the other hand, Reginalda Pedro stated that three thousand and 500 hectares are currently being prepared for maize sowing, 900 hectares for sorgum and 500 for soybeans, with a harvest of 14.000 tons of maize, 1.250 of soybean and 2.800 tons of sorghum.

With this, he added, the farm intends to serve the local market and then export, through a distribution chain, to be created as soon as it achieves the goal set for national foof self-sufficiency.

Meanwhile, the official said that the Angolan Sovereign Fund has 250 million of the general value for financing Pedras Negras farm of Malanje and farms from other provinces of Uíge, Cunene, Bié, Zaire and Cuando Cubando.

Created in 2012, Pedras Negras farm is located in an area of ??13.000 hectares.


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