Dubai-based companies pledges support to develop 3,750 hectares of agricultural land in Angola, harnessing the potential of the country’s agricultural sector for sustainable growth and economic development. The agreement involved Dubai Investment and E20 Investment, an agribusiness investment firm in which both companies signed a Memorandum of Understanding (MoU).

The company, E20 Investment centers on investing in, and operating farms and processing facilities across the world, with a particular focus on Europe, Central Asia, and Africa. The firm gathers a wealth of knowledge from different spheres of the world, highlighting international expertise in the agricultural industry. 

The agreement specializes in the development of a vast area of leased-out land in Angola. The project’s objective is to cultivate rice and avocado crops, leveraging Angola’s fertile soil and favorable weather conditions to achieve substantial yields.

Vice Chairman and CEO of Dubai Investments, Khalid Bin Kalban, stated: “Through this partnership and the area’s overall development, the Group hopes to contribute to Angola’s food security, which will help to increase the nation’s agricultural productivity while creating economic value for all stakeholders. 

He noted that “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 maximizing the project’s efficiency, productivity, and profitability”. 

“With the ongoing construction of the Dubai Investments Park (DIP) Angola, Dubai Investments is already making investments in the Angolan market. The Group’s expertise in developing extremely successful mixed-use development parks, such as the UAE’s Dubai Investments Park concept, is amply demonstrated by this project. On a global scale and in a rich market like Africa, DIP Angola is intended to be the successor to the tested DIP concept,” continued Kalban. 

The joint venture’s goal is to develop the area into a vibrant agricultural hub over the course of 18 months, with peak production of 5,500 tonnes of avocados and 28,000 tonnes of rice.

 CEO of E20 Investment, Sultan Al Jaberi said the MoU represents a significant step towards promoting agricultural development in Angola, fostering economic diversification, and nurturing a sustainable future, as it reflects a dedication to investing in sustainable agribusiness opportunities globally.

He further stated, “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.”