IDA community fund has a reimbursement rate of 60% – news

Angolan agriculture is still largely controlled by families, representing more than 80% of activity, while corporate agriculture is almost non-existent.

The community fund of the Agrarian Development Institute (IDA) has a credit reimbursement rate of 60%, as indicated by data provided this week by the Ministry of Agriculture and Forestry. The community fund is an organization created by the IDA, which essentially aims to support members of cooperatives, at the same time as reimbursing them and helping to finance the cooperative itself.

According to data from the entity, the community fund is financed at 3 billion kwanzas, grants credits and focuses on creating financial autonomy for cooperatives. In addition to this community fund, the IDA also deals with training farmers, supporting legislation issues, such as in specific cases of recognition and other demands for land ownership, as well as supporting farmers in obtaining financing.

During the conversation with journalists, this Monday, the 20th, the Minister of Agriculture and Forests, António Francisco de Assis, clarified that Mecanagro was closed from the perspective that the work it did could be done by private entities, but not That’s what happened, it ended up creating embarrassment. On the other hand, Angolan agriculture is still largely controlled by families, representing more than 80% of activity, while corporate agriculture is almost non-existent.

Looking at the production zones, we realize that the center controls agricultural production in the country, with emphasis on seven provinces. Moving on to products, data from the Ministry of Agriculture and Forestry shows that from 2018 to now, the five-year period defined by the National Development Plan (PDN), cereals represent 28%, while tubers represent 23%, at the same time as horticultural crops represent 4% of total production in the period. Africa has 800 million arable land, representing 60% of the world’s total, but only uses 43% of this potential, which constitutes a true waste of its potential. In addition, of the lands that the continent uses, only 4% are exploited with irrigation support.

BY: Ladislau Francisco

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