Dubai Investments, a UAE-based investment company, and E20 Investment, a Dubai-based agribusiness company, have joined forces to develop 3,750 hectares of agricultural land in Angola, focusing on cultivating rice and avocado crops. This collaboration aims to harness the country’s fertile soil and favorable climate conditions to achieve substantial yields, contributing to Angola’s food security and economic value.
Developing Angola’s agricultural potential
Dubai Investments, a leading diversified investment company listed on the Dubai Financial Market, has partnered with E20 Investment, an Abu Dhabi-based agribusiness investment company, to cultivate agricultural land in Angola. The Memorandum of Understanding (MoU) signed between the two entities signifies a commitment to developing 3,750 hectares of leased land in Angola, with a primary focus on rice and avocado cultivation.
Leveraging international expertise
E20 Investment specializes in investing in and operating farms and processing facilities across the globe, with a particular emphasis on Europe, Central Asia, and Africa. The company brings a wealth of knowledge and experience from various corners of the world, showcasing its international expertise in the agricultural industry. This valuable insight will be instrumental in implementing cutting-edge technologies and sustainable farming practices to maximize efficiency, productivity, and profitability within the joint venture.
Transforming land into an agricultural hub
Over the course of 18 months, Dubai Investments and E20 Investment aim to transform the leased land in Angola into a thriving agricultural hub. With Angola’s fertile soil and favorable climate conditions, the project holds immense potential for substantial yields. The joint venture projects a production of 28,000 tons of rice and 5,500 tons (peak production) of avocados, contributing to the country’s food security and economic development.
Agricultural productivity and food security
Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments, expressed the Group’s commitment to enhancing Angola’s agricultural productivity and food security through this collaboration. He emphasized the overall development of the area and the economic value it will generate for all stakeholders involved. Dubai Investments is already investing in the Angolan market with the ongoing development of Dubai Investments Park (DIP) Angola, showcasing the Group’s expertise in creating successful mixed-use development parks.
Economic diversification and sustainable growth
Sultan Al Jaberi, CEO of E20 Investment, highlighted the significance of the MoU in promoting agricultural development in Angola and fostering economic diversification. He emphasized the joint effort’s ability to create employment opportunities and contribute to the country’s sustainable future. By leveraging Dubai Investments’ vast network and resources, combined with E20 Investment’s expertise, the collaboration is poised to make a positive impact on Angola’s economic growth.
For more news on commodities, visit our dedicated archives.