Support for sustainable agrifood production

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Created on Monday, 21 May 2012 14:10

PRIO Agricultura is a company under Mozambican law which started its activity in 2008 in the Sofala and Manica provinces, producing raw materials (soybean, sunflower and corn) for the agro-food industry. A significant part of the production enters the internal food market.

The company employs directly 80 workers and is expected to create about a thousand of indirect jobs in the region. It has also been revealing a strong cultural compromise towards a sustainable development.

The project presented to SOFID aimed to increase the production and to diversify the crop’s range to bean and sorghum, through an investment to acquire agricultural equipment (tractors, trailers, irrigation pivots, etc.) and production factors (seeds, fertilizers, and agripharmaceuticals). SOFID’s support was granted in 2010 and consisted on a 75% guarantee to a financing of up to USD 2.3 million granted by the BCI, our partner local bank. The guarantee allowed the financing to be granted, with SOFID performing an important role in a project where contribution to the reduction of Mozambique’s external dependence in cereals and other food products is clear.