Portuguese investment support fund in Mozambique ready to support Portuguese farmers

7 March 2013

The Portuguese fund to Support Investment in Mozambique is available to help Portuguese farmers to invest in the East African country the chief executive of financial company Sociedade para Financiamento do Desenvolvimento (Sofid), which manages the fund, said Tuesday in Maputo.

On the sidelines of a business forum on investment opportunities in the agricultural and agro-food sectors in Mozambique, organised by the Portuguese Industrial Association (AIP) along with promotional associations such as Portugal Fresh and Portugal Foods as well as the Portuguese Federation of Agro-Food Industries, João Real Pereira noted the lack of capital available to Portuguese farmers as one of the obstacles to the growth of this business group.

The forum took place at the beginning of a visit by the Portuguese Minister for Agriculture, the Sea, the Environment and Land Planning, Assunção Cristas, to Maputo, intended to promote Portuguese products and make use of the Mozambican “growth strategy” for the agro-food sector.

The minister noted that wine and olive oil were products that were “much appreciated” in Mozambique but said that there was “opportunity to export more” and “help through local partnerships to develop agriculture in Mozambique, and pointed to some “relevant investments” such as those made by Sumol-Compal and Portucel.

Sofid, which was set up in 2007, is a limited liability loan company that is majority-owned by the Portuguese state. Its other shareholders are the main Portuguese banks (Banco Espírito Santo, Banco BPI, state bank Caixa Geral de Depósitos and Millennium BCP), each with a 10 percent stake and development association Elo – Associação Portuguesa para o Desenvolvimento Económico e a Cooperação, with 0.01 percent. (macauhub)