Angola has secured US$1.4 billion in financing to help build a fertiliser plant.

Angolan agricultural inputs supplier Amufert SA has signed the funding deal with Afreximbank, with the OPAIA Group and Sonangol Natural Gas as additional strategic sponsors.

The factory, which was prompted by fertiliser and grain shortages caused by the Russia-Ukraine war, is being built in the mineral-rich region of Soyo, which has access to gas, energy, water and a commercial port.

The plant – with an expected annual capacity of 1.2 million tons – is expected to create about 4 700 jobs, 3 500 of them in the construction phase and 1 200 jobs when the plant is operational in 2027.

13 August 2024
Image: Freepik