The fund is targeting individual investors and institutions as well as government-owned funds in the region, and will focus on the production of crops and livestock in Sudan and food processing in Egypt.
Saudi billionaire Prince Alwaleed bin Talal has received approval from Egypt's Ministry of Agriculture to sell 50 Pct of his agricultural firm, which is developing the Toshka agriculture project in southern Egypt, and to invite Asian investors to join the project.
Three options both governments were looking at are whether Egyptian investors would own and cultivate farmland, whether land would be owned in partnership with Egypt and Uganda, or whether land would be owned as a concession right.
A delegation of top Kenana Sugar officials is in Doha to hold talks with Qatar’s Hassad group to create one of the world’s biggest food producing companies with a view to ensuring food security in the Arab world.
Heightened land values have caused several Egyptian banks, private companies and government bodies to purchase agricultural land in Africa, in addition to focusing greater attention on Egypt’s land resources.
“Large Scale Farming in Africa” is an international conference, which meets on 20-21 Apr 2010 in Cairo to explore upcoming investment opportunities in Africa’s agriculture sector, and discuss risk management and financing solutions.