Angola’s Sovereign Fund invests US$20 million in farm

14 September 2017

The Sovereign Fund of Angola has so far invested US$4.2 million of an initial estimate of US$20 million in the Pedras Negras Farm, said the public relations director of Quantum Global Group, the management company of the farm located in the municipality of Cacuso, Malanje province.

Reginalda Pedro also said that the investment of the Sovereign Fund began in 2016, and the funds were used to buy equipment and production factors, “which will contribute to the production and processing of grains, such as sorghum (known as mapira in Mozambique), soy and corn into flour and animal feed.”

The company’s public relations director reported that 3,500 hectares are currently being prepared for maize sowing, 900 hectares for sorghum and 500 hectares for soybeans. The farm expects to produce 14,000 tonnes of corn, 1,250 tonnes of soy and 2,800 tonnes of sorghum.

The grain will supply the Angolan market and, when the country becomes self-sufficient, for export, Pedro said.

The Pedras Negras farm, established in 2012, is a project funded by the Sovereign Fund of Angola and managed by Angolan company Quantum Global Group. It occupies an area of ​​13,000 hectares initially intended for the production of grain for the national market. (macauhub)