Dubai Investments, the leading investment company listed on the Dubai Financial Market, and E20 Investment, an Abu Dhabi-based agribusiness investment company, signed a Memorandum of Understanding (MoU) to develop 3,750 Ha of agricultural land in Angola, harnessing the potential of the country’s agricultural sector for sustainable growth and economic development
The MoU is focussed on the development of a vast area of leased out land located in Angola and the project's objective is to cultivate rice and avocado crops, leveraging Angola's fertile soil and favourable climate conditions to achieve substantial yields. Over the course of 18 months, the joint venture aims to transform the land into a thriving agricultural hub, resulting in a projected production of 28,000 tonnes of rice and 5,500 tonnes (peak production) of avocados.
Commenting on the joint venture, Khalid Bin Kalban, vice chairman and CEO, Dubai Investments said, "Through this collaboration, along with the overall development of the area, the Group aims to contribute to Angola's food security which will support in enhancing the country's agricultural productivity while generating economic value for all stakeholders involved. E20 Investment brings extensive experience in managing large-scale agricultural projects, ensuring the implementation of cutting-edge technologies and sustainable farming practices. Their expertise will be instrumental in maximising the project's efficiency, productivity, and profitability”.
Sultan Al Jaberi, CEO of E20 Investment stated that the Dubai Investments and E20 Investment MoU represented a significant step towards promoting agricultural development in Angola, fostering economic diversification, and nurturing a sustainable future. "It reflects our dedication to investing in sustainable agribusiness opportunities globally. By combining our expertise with Dubai Investments' vast network and resources, we are confident in our ability to create a successful agricultural project in Angola that will contribute to the country's economic growth and employment opportunities. Both companies are committed to executing this project with the highest standards of professionalism, environmental responsibility, and social impact,” Al Jaberi added.
