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Angolan state bags US$82m from privatization of government owned breweries, agro-livestock farms

Apr 8, 2021Apr 8, 2021 Editor

ANGOLA – The government of Angola has raised a total of Akz 52 billion (US$82.7m) from the privatization of 3 state-owned breweries and 5 agro-livestock enterprises, under the Privatization Program (PROPRIV), coordinated by the Institute of Assets Management and State Participation (IGAPE). IGAPE was created to manage the state’s financial assets and holdings, and carry out the privatisation and restructuring programme of the corporate public sector, according to a presidential order. The PROPRIV program is aligned with the National Development Program 2018-2022 and falls within the scope of Public Finance…

New animal feed factory opens in Angola boosting local production

Mar 29, 2021Mar 30, 2021 Editor

ANGOLA – Angola has welcomed the inauguration of a new animal feed factory, Rações KN by WM Group a multi-industrial player, with a production capacity of 20 tons per hour. The plant is dedicated to the production of different types of feed in varying packages measuring between 25 and 50 kilograms, to ensure affordability and availability of the products. According to reports by Angola Press, this private investment of an undisclosed amount is set to create 150 jobs. Further to that, the project will act as the main recipient or…

Angolan milling company AP Foods partners with Webcor Group to increase pasta production, distribution

Mar 23, 2021Mar 24, 2021 Editor

ANGOLA – The Webcor Group, one of Angola’s leading players in the agricultural commodities and business line, has signed a partnership agreement with AP Foods to increase the production of pasta and widen distribution of the product in the country. AP Foods is an Angolan milling company founded in 2016. It commenced operations with an installation of 20,000 tons/year pasta production plant. It later boosted its capacity by 56,800 tons/year, which the partnership will leverage on, in addition to its technical skills. Webcor Group will avail its logistical capacity to…

Zambia, Angola strengthen trade relations through public-private sector collaboration

Mar 16, 2021Mar 16, 2021 Editor

ZAMBIA – Zambia and Angola have joined hands to foster trade relations in the agriculture and livestock sector through enhanced private and public sector collaboration. This was agreed upon during the Mini Business Symposium between the two nations aimed at stimulating bilateral trade, which culminated with a visit to Zambia’s largest integrated cold chain foods and retail business, Zambeef. According to reports by Lusaka Star, Angola will tap into livestock products from Zambia which will enable it to reduce importation of the products from Europe and South America. In January,…

Angolan exploration company Minbos collaborates with IFDC to develop fertilizer market for small-holder farmers

Jan 9, 2021Jan 9, 2021 Editor

ANGOLA – Minbos Resources Limited, an exploration and development company in Angola has inked a Memorandum of Understanding (MOU) with the International Fertilizer Development Center (IFDC) for the Cabinda Phosphate project that seeks to develop the fertilizer market for smallholder farmers in the country. IFDC is a science-based public international organization working to alleviate global hunger by introducing improved agricultural practices and fertilizer technologies to farmers and by linking them to markets. The project will leverage on IFDC’s innovative research, market expertise and strategic partnerships to identify sustainable solutions for…

Beverage sector players in Angola propose amendment of excise duty rates

Nov 3, 2020Nov 3, 2020 Editor

ANGOLA – The Association of Beverage Industries of Angola (AIBA) has made a proposal to the Angolan Tax Authority to reduce the excise duty rates charged on beverage products. According to reports by Angolan Press Agency, the current rates applied are 25% for spirits, beers and wines, and 19% for soft drinks with AIBA proposing a change to 8% for soft drinks, 11% for beers, 15% for wines and 21% for spirits. For water, the association advocates the insertion of this Value Added Tax (VAT) in the purchase, since it…

World Bank provides US$230m for commercialization of agriculture in Angola

Oct 31, 2020Oct 31, 2020 Editor

ANGOLA – The World Bank and the French Development Agency have made available US$230 million to support Commercial Agriculture Development Project (PDAC) in Angola. The four-component project will help reduce and, in some cases, do away with obstacles in the country’s agriculture, aimed at speeding up the process of commercialization, said the project’s coordinator, Pedro Dozi. Speaking to Angop, Dozi said that the objective is to help increase aggregate production per standard unit in the selected value chains and support the rise in average gross sales by agricultural / non-agricultural…

Angolan poultry farm seeks US$80m to double egg production capacity to 2 million eggs/day

Oct 23, 2020Oct 23, 2020 Editor

ANGOLA – Pérola do Kikuxi farm, one of the largest integrated poultry producers in Angola is seeking US$80 million financing, supported by the Angolan central bank to expand its production capacity. According to reports by Angola Press, the financial boost will enable the company to recover its egg production capacity to one million eggs per day by January 2021, which had dwindled to 600,000 eggs/day in March due to the constraints imposed by Covid-19. The investment is further geared towards doubling the production capacity to two million eggs/day, starting in…

IFAD to bolster Angolan small holder farmers’ projects with US$150m financing

Jul 17, 2020Jul 17, 2020 Editor

ANGOLA — Angola has inked a US$150m financing agreement with the International Fund for Agricultural Development (IFAD), aimed to ensure national food security through the Smallholder Resilience Enhancement Project (SREP). The project will promote sustainable practices such as the introduction of drought-tolerant crop varieties, adaptation of cropping calendars and rainwater harvesting. It will invest in small-scale irrigation, increased access to water and climate-resilient farming practices. The agreement was signed by Angola’s permanent representative to the United Nations in Rome (Italy), Fátima Jardim, and IFAD president Gilbert Houngbo. The funding includes…

Angolan Agrarian Development Support Fund to promote crop production with US$26.3m financing

Jul 13, 2020Jul 13, 2020 Editor

ANGOLA – The Agrarian Development Support Fund (FADA) of Angola is set to inject Akz 15 billion (US $26.3million) in this year’s agricultural season to enhance crop production in the country through offering credit to family farmers. The funding will enable the farmers acquire agricultural inputs such as tractors, fertilizers, pesticides, production tools, agricultural seeds, as well as other means to guarantee the development of agriculture in better conditions, reports Angola Press. According to Carlos Fernandes, CEO of FADA, the financing will promote diversification of the economy and reduce imports…