Ndalatando - Angola's ambassador to Nigeria, José Bamóquina Zau, on Thursday called for greater speed in creating the conditions for Nigerian businesspeople to invest in the agribusiness sector in Cuanza Norte province.
The diplomat, who was in Cuanza norte on Thursday, analyzed with the local authorities the creation of conditions for the implementation of investment intentions expressed three months ago by Nigerian businesspeople.
He added that as part of the province's strategies, discussions were held with local authorities to define space for the implementation of projects in agro-industry.
The Angolan diplomat said the local government is receptive to private investment and expects it to take place this year, adding that regarding the implementation, it depends on works with the Angolan Private Investment Agency and technical discussions that would culminate in the signing of memoranda.
He recalled that Cuanza Norte province has enough arable land and water to boost agribusiness.
In March 2023, businesspeople from the Angola/Nigeria Business Council travelled to Cuanza-Norte to find out about the region's agro-industrial and water potential.
The chairperson of the Angola/Nigeria Business Council, Fifi Ejindu, who headed the delegation, said the organization has more than 500 million dollars available and expressed the intention of Nigerian businesspeople to invest in the construction of an agro-industrial park and the production of green hydrogen in the municipality of Cambambe.
The investment in the agro-industrial park includes the construction of a complex with an area for the production, processing and packaging of various food products.
As well as creating jobs, the project also aims to meet the food needs of Angola, Africa and the world.
Fifi Ejindu highlighted the municipality's abundant water, energy and land resources, three of which are indispensable for the production of green hydrogen.
Fifi Ejindu explained that the project aims to make Angola the first country to produce green hydrogen in Africa and be able to produce various by-products for export, especially fertilizers.
Agriculture is an important branch of the economy in Nigeria, providing employment for 70 per cent of the population. The sector is being transformed by commercialization at small, medium and large business level.LJ/IMA/QCB/DAN/AMP
