Matala: The Agricultural Development Support Fund (FADA) plans to finance 200 corn producers in the Matala municipality of the Huila province to ensure a steady supply of raw materials for the Nova Cimor factory, the largest mill in the province. The factory, which produces cornmeal and other derivatives, has struggled to maintain its daily production capacity of 140 tons of cornmeal.
According to Angola Press News Agency, FADA executive director Renato Baptista presented the new financing project on Wednesday, though the details were not disclosed. Baptista noted that this initiative is the result of collaboration between FADA, the Matala Municipal Administration, and the factory. The institutions involved will provide necessary technical and institutional support to ensure producers are properly qualified to access the financial resources intended to promote corn production.
The Nova Cimor factory in Matala, a public asset under private management since 2000, has existed since the 1960s. It benefited from a financial injection from the state in 1999 and remains the largest and main milling plant in the Hula province. The mill has a storage capacity of 6,000 tons in six silos. Despite its capacity to produce 140 tons per day, it is currently milling only 20 tons due to a scarcity of raw materials, which typically originate from the municipalities of Matala, Quipungo, Chicomba, and Chibia.
In 2021, the factory received one billion kwanzas in financing from PRODESI, through a BDA credit line, which allowed it to replace its equipment after being paralyzed for four years since 2017.
