Date: 19 Feb, 2016
AAAID participated in a workshop on future horizons for investment opportunities in Africa on February 19th, 2016 held in the Headquarters of Arab Bank for Economic Development in Africa (BADEA). The workshop was organized by the Islamic Corporation for the Development of the Private Sector, the Business Forum of the Islamic Development Bank and in collaboration with (BADEA).
The workshop was attended by His Excellency Badr El-Din Mahmoud, The Minister of Finance and Economic Planning of the Republic of Sudan and aimed to provide an overview of the potential investment opportunities in Africa with a focus on Sudan. The workshop explored potential strategic partnerships and discussed solutions to major challenges in the agricultural sector by defining the relevant strategies and policies required to develop this vital sector.
AAAID President, His Excellency Mohamed Bin Obaid Al Mazrooei, delivered a speech during the workshop explaining AAAID’s concern with developing the agricultural development since its establishment. He added that AAAID has made many achievements in the agricultural sector throughout its journey. His Excellency stated that AAAID’s total investments in 34 agricultural companies amounted to approximately 573.5 million USD, which represents 103% of its paid up capital and are distributed across 4 main sectors. These are agricultural production (53%),the vegetable production (24%), animal production (19%) and the agricultural services sector (4%).
He stated that total value of AAAID’s company assets are estimated at USD 4.2 billion and their production contribute in the provision of substantial amounts of basic food products such as seeds, sugar, vegetable oils, meat, fodder and dairy products. These companies provide approximately 95,000 employment opportunity across multiple specializations. His Excellency stated that AAAID has contributed in the implementation of several development programs that have targeted small-scale farmers and producers as main providers of agricultural production in Africa and the Arab world. These programs included the dissemination and localization of modern agricultural technologies and the provision of agricultural services such as revolving loans for the agricultural input requirements. His Excellency elaborated that these programs have achieved a major transformation in the contribution of the small-scale farmers producers segment by increasing their agricultural productivity, which has encouraged AAAID to establish a Trust Fund with a capital of $1 million.
AAAID also presented a paper titled ‘’ Requirements of Developing Agricultural Investment in the Republic of Sudan’’ which highlighted AAAID’s investment activities and the potential investment opportunities in its affiliated companies in the country. The paper mentioned the challenges facing AAAID’s affiliated companies in Sudan and proposed solutions for improving the investment climate in Sudan.