22 October 2009
South African farmers now have access to an estimated 10 million hectares of arable land in the Democratic Republic of Congo following the signing of a deal touted to be the largest land agreement in Africa.
The deal allows farmers to lease land for growing maize, soya beans, and other produce, as well as rearing poultry and dairy cattle.
"The agreement includes tax exemptions on importing agricultural inputs and equipment, as well as allowing full repatriation of profits," said Prof. Mathias Buabua, the chief executive of DRC's National Investment Promotion Agency (ANIPA).
"DRC has 120 million hectares of fertile land out of which only 2% are currently cultivated. The agreement is part of the government's efforts to improve food security,"said Prof. Buabua
Prof. Buabua spoke to TradeInvestAfrica at the sidelines of a conference on investment opportunities in the DRC organised by the Cape Chamber of Commerce in association with Nedbank and the Nepad Council.
South Africa has one of the most developed agriculture sectors in Africa and farmers are increasingly looking for opportunities in other countries.
"Potential investors in the DRC would have lucrative rewards. We hope to also acquire technology and new farming methods in the process," said Buabua.
Copyright © 2009 TradeInvest Africa. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com).
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