Angola estimates to produce more than 6 million tonnes of grains by 2027

Angola estimates to produce more than 6 million tonnes of grains by 2027, according to the National Plan for the Promotion of Grain Production (PLANAGRÃO) presented, this Tuesday, by the Ministry of Economy and Planning (MEP), in Luanda.

The plan, which starts in the first quarter of 2023, provides for an average annual investment of around Kz670 million for the production of grains of wheat, rice, soy, corn and other cereals, said the Secretary of State for the Economy, Ivan dos Santos, in the weekly “Briefing” with the press.

Read also: Check out our coverage on Angola

As for the construction and rehabilitation of support infrastructures for the productive and social sector, the Government foresees around Kz471 million annually.

“The plan has a national scope, with greater emphasis on the provinces of Moxico, Lundas Norte and Sul, regions with available land and favorable climate conditions for the production of these cereals,” highlighted Ivan Marques quoted in a press release sent to JA Online.

For the materialization of PLANAGRÃO, public and private funds will be mobilized, of which the State will invest over five years the value of Kz1.178 billion in infrastructures, which include the demarcation of two million hectares, subdivision and roads access to production areas.

Additionally, Kz1.674 billion will be invested in the capitalization of Banco de Desenvolvimento de Angola (BDA) and Fundo Activo de Capital de Risco Angolano (FACRA), to finance the national private sector, which has conditions for production, logistics and transformation of grains, and to guarantee the entire value chain, as mentioned in the document.

According to the Executive, commercial banking will also be able to raise funds, through Notice 10 of the National Bank of Angola (BNA), which guarantees access to credit with more attractive interest rates for promoters of productive projects.

With information from Jornal de Angola