Luanda – The President of France, Emmanuel Macron, announced this Friday the establishment of a new financing tool to support micro, small and medium-sized companies in the agricultural sector in Africa, including Angola.
The instrument, according to Emmanuel Macron, will allow such companies in the agricultural sector to have projects structured in different aspects.
Speaking at the end of the Angola/France Economic Forum, which took place from the 2nd to the 3rd of the current month, Macron refers that the aforementioned companies will work with financial institutions such as “Business France” and the French Public Investment Bank (BPI F), with which local production capacities will develop.
“This instrument will make it possible to invest in small and medium-sized companies, precisely to be able to launch small structured African projects”, he advanced, maintaining that the same financial tool will allow for a start-up of production capacities.
President Macron says that, In Angola, in particular, he wants to contribute “strongly” to the economic partnership and respond to the country’s challenges, with the help of business associations in both countries, without any imposition, but with reciprocal interests.
The French President said it was a good thing that Angola was starting to turn its attention to the diversification of the economy, after dependence on the diamond and oil sectors.
In his understanding, diversification will improve the business environment, making it more attractive and suitable for international bussinesses.
For this purpose, Macron points to the professional training process as being fundamental, expressing a partnership in this area, which can be done digitally in several domains.
In this context, he points to agricultural production as one of the ways that will allow an exit from the informal economy, as, in his opinion, it increases the prospects for export and boosts it, also allowing for food “sovereignty”.
According to Emmanuel Macron, the war between Russia and Ukraine forced the launch, in 2022, of the “Farm initiative”, an experience that will help with cereals circulation, inputs and fertilizers in Europe and Africa, as well as assist African countries with boosting production.
“It will be a partnership with the engagement of Angola, for an agricultural production that could allow an increase in production levels and exports”, he reinforced.
Within the framework of the partnership established among private sector companies in both countries, priorities have already been highlighted, such as maize, cassava, soy, cotton, cereals, coffee, livestock, and others.
Available data show that more than 70 French companies operate in Angola.
Oil exports from Angola to France are around US$400 million.
France intends to change and deepen commercial ties with Angola, within the scope of the economic diversification underway in the country.
Priorities include issues linked to industrialization, mainly on the logistic fields, distribution and agribusiness.
Source: Angola Press News Agency
