Angola’s agricultural sector currently represents about 10% of its GDP, yet farmers till only 10% of the country’s available farmland. Citic Construction, a Chinese state-owned firm, plans to change this with a US$250 million investment over the next five years.
Fan Juntao, Citic’s managing director in Angola, said on 21st July, that the money will develop nearly 100,000 hectares, focusing on soya and maize cultivation.
The company has begun clearing 3,000 hectares in Cuanza Norte and 5,000 hectares in Malanje, with planting scheduled to start once surface rights are obtained. According to the Chinese leader, Citic expects to reach up to 20,000 hectares next year and will implement a support fund alongside high-yield technology to achieve maize yields of eight tonnes and soya yields of five tonnes per hectare.
Angolan authorities expect 60% of the production to go to China, while the rest will feed local consumers. This project aligns with China’s broader strategy to reduce reliance on soya imports and derivatives from the U.S., especially amid ongoing trade tensions.
In a related move, on 3rd July, China’s General Administration of Customs approved imports of soya cake from Ethiopia, further diversifying its procurement options in Africa.
