Financial Times FT.com

Angola launches $6bn agriculture expansion

By Tom Burgis in Johannesburg

Published: October 4 2008 03:47 | Last updated: October 4 2008 03:47

Angola, one of the world’s fastest-growing economies, has launched an ambitious plan to exploit both its fertile soils and high global food prices to attract $6bn (€4.3bn, £3.4bn) in agriculture investments over the next five years.

As it emerges from one of Africa’s most protracted civil wars, Angola’s abundant oil and diamonds have attracted febrile interest from foreign investors. Yet the talks under way with several private-sector farming giants are subject to a host of obstacles, ranging from clogged ports and red tape to corruption fears and competing claims to land rights.

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