Angolan company invests over US$1 million in agri-livestock project

9 December 2010

M’Banza Congo, Angola, 9 Dec – Angolan company Saema has invested over US$1 million in a large scale agri-livestock project in the municipality of Nzeto, the company’s managing director told Angolan news agency Angop in M’Banza Congo Tuesday.

José Alberto said that the investment was made in setting up a support site, acquiring seeds and equipment (tractors, ploughs, sowing and harvesting machinery), support vehicles, as well as staff expenses, amongst other expenditure.

The company has an area of 1,000 hectares of land to implement it agri-livestock project, 500 hectares of which are already producing cassava, maize, beans, potatoes, watermelon, tomatoes and cabbage, as well as raising pigs.

The manager of Saema said that negotiations were underway with several national and foreign financial institutions to secure a loan of US$20 million to re-launch the project and make it more effective in the short term.

Saema, Comércio Geral, which also provides services for electrical projects, pharmaceutical and supply of medical equipment and medication, was set up a year ago and is headquartered in the town of Nzeto in Angola’s Zaire province. (macauhub)