Mar 28, 2017 Last Updated 9:05 AM, Mar 28, 2017

Otala Resources eyes Tanzanian expansion

ABN – Otala Resources has hired a food expert to consult the company on how best to expand and improve its Tanzanian agribusiness.

The appointment of Julie Dedman is also aimed at fast-tracking food and safety certification for the company’s farm and drying unit.

Otala Resources is hoping to supply Dar-Es-Salaam with more than 200 tonnes of fresh produce a month.

The company currently sells over 16 varieties of fresh fruit and vegetables in Tanzania.

Obtala chairman Francesco Scolaro said: "Julie's vast expertise and experience will help fast-track our certification process and most importantly the quality of production leading to a more sustainable and higher levels of route to market.

"We will build our farm and production development plans around Julie's requirements, focusing on margin optimisation and returns.

"I firmly believe that this relationship will rapidly deliver realisable benefits for all stakeholders as we build on the debt-free asset platform we have built thus far."

@ABNetworkOnline

Sweden invests $17m in Liberia’s agriculture sector

ABN – The Swedish Ambassador for Liberia, Sofia Strand, has announced that the Swedish government has invested US$17 million in the country’s “Grow Programme”.

The programme aims to grow Liberia’s agriculture sector over a five-year period.

Adam Smith International, Mercy Corps and the Swedish International Development Agency are leading a group of professionals who will help farmers develop their farming capacity.

Most Liberians’ income comes from the agriculture sector and the programme will develop the markets and value chains in agriculture.

Strand also highlighted the importance of agriculture in Liberia’s post-Ebola recovery.

@ABNetworkOnline

Kenya sells state-owned sugar assets

ABN – Kenya’s Privatisation Commission has announced plans to sell five of the country’s sugar companies to private investors.

It is hoped that the sale of the state-owned sugar companies will help to wipe off the country’s debt of US$603 million.

Around 590,000 tons of sugar were produced in Kenya last year and the five sugar companies accounted for 10% of this.

Kenya’s sugar industry has started struggling due to record high production costs of $900 per ton, which is way about the $300 recorded in other countries.

Sugar accounts for about a fifth of Kenya’s economy and the industry employs around 250,000 people.

Nzoia Sugar, South Nyanza Sugar, Chemelil Sugar, Muhoroni Sugar and Miwani Sugar will all be sold if the plans go ahead.

The Privatisation Commission chairman Henry Obwocha said: “Government reached the decision of bailing them out completely so that the firms would look attractive to investors.

“The government planned to sell 51 percent stakes in the companies to a ‘strategic partner,’ and a further 24 percent to both growers and employees.”

@ABNetworkOnline

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