Angola invites Israeli companies to invest in fertilizer production

14 June 2017

The National Director of Forests of the Angolan Ministry of Agriculture suggested that Israeli entrepreneurs should invest in fertilizer production in the country “in order to contribute to the diversification of the economy and reduce poverty” during the 1st Angola-Israel Business Forum.

Speaking about investment opportunities in Angola in the agricultural sector, Domingos Nazaré Veloso emphasised that low levels of mechansation and a lack of fertilizers have been the main factors limiting agricultural development in the country.

The National Forest Director noted that Angola needs 200,00 to 300,000 tonnes of fertilizer per year and only produces between 70,000 and 100,000 tonnes.

Domingos Nazaré Veloso, quoted by the Angop news agency, stressed that the main concern in the agricultural sector is distribution and sale of production and there is a lack of distribution to urban centres where large consumers of agricultural products are found.

The Israeli ambassador to Angola, Oren Rosemblat, said at the forum promoted by the Angola-Israel Chamber of Commerce (CCAI) that his country has a US$2 million credit line immediately available to help Angolan companies increase two-way trade. (macauhub)