CDP and Inalca work for Angola’s development

CDP and Inalca work for Angola’s development

An agreement has been announced to support the African food industry and contribute to the creation of the largest food center on the continent

Rome November 29, 2017

CDP and CDP-Equity-controlled Inalca in the coming weeks will sign an agreement to create an industrial pole for the processing, storage and distribution of agro-food products in Angola.

The development of the National Agro-Food Center envisages a gradual investment of up to €150 million and the involvement of Italian SMEs providing technology and specific know-how for the creation of cutting-edge plants for the development of various supply chains for meat, fish, fruits, vegetables, and cereals. The reference point for the Italian companies involved will be Inalca, a Cremonini Group company engaged in the international distribution of Italian agro-food specialties.

CDP, along with its SACE and SIMEST subsidiaries, will be able to support the initiative as a co-sponsor, guarantor or investor to strengthen the business of Italian companies in Angola. Through this initiative, the CDP Group seeks to promote the challenges of sustainable agriculture and food security in Africa, in line with the implementation of Agenda 2030.

The agreement’s announcement confirms the soundness of the relationship between Italy and Angola in various economic sectors and the broad growth prospects for the African country, thanks to the support of the Italian economic and entrepreneurial system. The agreement will offer opportunities for progress and development to a country with great economic potential: Angola is a fertile land with high water quality and a large share of population engaged in agricultural activities.

To achieve this goal, it is necessary to make investments in the food transformation sector, in particular in meat and fish, supply chains in which Angola’s government is giving high priority.