Angolan food production plant supported by Deutsche Bank and SACE

(Trade Finance Global, London, 17 April 2023) Today, Deutsche Bank and SACE announced the close of a €57 million, 10-year lending facility in support of local food production in the Republic of Angola. This facility was guaranteed by SACE, the Italian Export Credit Agency (ECA), and Desenvolvimento de Angola (BDA). The facility will be used to fund an export contract with the Italian company, Andreotti Impianti Spa, and Carrinho Empreendimentos SA, a local Angolan company for the supply of a fully automated soybean and sunflower crushing plant. Located in Lobito, the plant will be the largest of its kind in Africa, with a throughput capacity of up to 4,000 tonnes of soybeans or 2,400 tonnes of sunflower seeds per day. Construction of the soybean and sunflower crushing plant will take approximately two years and is expected to create around 300 direct jobs and thousands of indirect jobs related to soybean and sunflower planting.