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Agricultural investment company Afgri is re-entering the poultry business through its subsidiary Philafrica Foods in a 50-50 joint venture in northern Mozambique.
The recently launched Philafrica has earmarked up to R1.5bn for investment in agriculture and food processing in several African countries over the next 18 to 24 months. Its joint-venture partner in Mozambique, Novos Horizontes, is an integrated chicken producer focusing on smallholder production.
The partnership was the first of many such investments, Philafrica CEO Roland Decorvet said on Tuesday.
Afgri divested itself of its poultry interests in 2015, when it sold Afgri Poultry and Kinross Animal Feeds Mill to AfPo Consortium led by Matome Maponya Investments. At the time, Afgri said the sale would allow it to concentrate on its core grain businesses and orientate the company for growth.
The domestic poultry sector has been hit by a combination of cheap EU imports and an outbreak of a highly pathogenic strain of avian f...
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