AfDB approves US$75mn loan to Sudan-based food and agriculture company

27789656549 df891f38c5 z The company said that this is in line with its vision to provide affordable basic staple food to Sudan and the rest of Africa. (Image source: Media Club/Flickr)The African Development Bank (AfDB) has approved a loan of US$75mn to DAL Group Co. Lt, one of Sudan’s food and agriculture business groups

The transaction will contribute to broad-based economic growth, build resilience and address food security as well as promote private sector-led economic diversification by bringing to scale, an existing and successful private sector initiative.

Atsuko Toda, the bank’s director for Agriculture Finance and Rural Development, said, “By partnering with DAL Group, the Bank will leverage on Sudan’s high agricultural potential as well as the experience and resilience of a private enterprise with a proven track record and deep knowledge of the country’s unique business environment.”

The investment will also support the expansion of the company’s vertically integrated food and agriculture operations to transform the Sudanese agriculture and food industry.

By strengthening its integrated value chain model, adopting the latest technologies, and expanding its food processing and packaging capacity, the DAL Group aims to enhance its ability to source and produce raw material locally and increase the range of its product offering.

The company said that this is in line with its vision to provide affordable basic staple food to Sudan and the rest of Africa.

The approval is also in line with the priority development objectives of AfDB group and consistent with the bank’s action plan for African agricultural transformation-Feed Africa.

The bank’s Feed Africa strategy focuses on transforming African agriculture into a globally competitive, inclusive and business-oriented sector that creates wealth, generates gainful employment, and improves quality of life.

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