Anglo-Angolan partnership Lonagro opens first agricultural equipment store

7 July 2011

Luanda, Angola, 7 July – Anglo-Angolan partnership Lonagro, a company focused on the sale of agricultural equipment recently opened its first store to represent US brand John Deere in Angola’s Bengo province, Angolan weekly newspaper Expansão reported.

According to the company’s managing director, Humberto Santos, Lonagro is the result of a partnership between British group Lonhro Plc and Angolan company Agromundo – Serviços Agropecuários Integrados in which US$5.5 million have been invested, 70 percent of which was the shareholders’ own funds and the remaining 30 percent from bank financing.

According to information from the company, in the Angolan market Lonagro aims to contribute to modernising and expanding agriculture in the country.

In order to have more efficient coverage, Lonagro plans to open three branches in the cities of Malanje, Lubango and Benguela and soon to create mobile technical assistance units. (macauhub)