IFC and Carrinho group partner to support agriculture development in Angola
IFC and Carrinho Group, Angola's biggest food processing company, launched a training program for tens of thousands of farmers and small and medium-sized enterprises (SMEs) engaged in Angola's agriculture sector to help them increase productivity and more easily access markets.
Through the program, IFC will help Carrinho Group develop sustainable agriculture practices, including conservation and crop diversification, and establish value chains in rural markets, with a focus on soya bean cultivation and poultry farming.
To help increase local soya bean production, IFC will train roughly 300 agricultural technicians from Carrinho Group in agronomy and business techniques. The technicians will in turn support more than 50,000 smaller-scale farmers in the provinces of Benguela, Huambo, Bié Huila, Kwanza Sul and Malange with training, access to production packages and new crops. The farmers will also benefit from access to credit, equipment, and will join Carrinho's own supply chain.
Angola currently imports more than 90 percent of the poultry meat it consumes, with local production lagging because of a lack of raw materials and animal feed. This represents an opportunity to enhance local value addition in the country.
"We are delighted to cooperate with IFC on this initiative. Our strategy is to implement approaches that increase local agricultural production and provide inputs and access to markets for the poultry sector. The partnership with IFC will fast track Carrinho's growth plan and contribute to our ambition to make Angola food sufficient," said Nelson Carrinho, the CEO of Carrinho Group. "Carrinho Group will revive private rural agriculture extension services and launch the biggest poultry initiative in Angola."
"The agro-processing sector has the potential to become a key driver of economic growth in Angola. Through this partnership, IFC will help improve local production and supply, and create sustainable value chains in the rural areas of Angola, contributing to job creation and economic growth," said Indira Campos, IFC's Country Officer for Angola & Botswana.
IFC has identified agriculture, financial services, and energy as priority sectors with high potential to boost economic growth in Angola. IFC is also providing advisory support to bolster private investment, create market linkages and supply chains and promote access to finance to small farmers to develop the sector.