The Cape Verdean government has created a public capital corporation to manage the agricultural lands it was given in Angola by that country’s authorities as a part of bilateral cooperation between the two states. The corporation, which has social capital of 5 million escudos underwritten by the State of Cape Verde, is charged with elaborating, approving and executing strategic and management plans for the development of farming, agriculture and rural tourism on the space, located in the Angolan province of Kwanza Sul.

The land, according to Cape Verdean authorities, is characterized by its arable and fertile soil, with significant and long-lasting annual rainfall and permanent streams of water. The land also presents topographic conditions perfect for the implementation of modern technology at a low cost. These characteristics, in the view of the Cape Verdean government, provide “a series of favorable conditions and potentialities for diversified agricultural development that is both of high quality and economically viable.”

The government also affirms that the land will open up a range of promising new opportunities for the strengthening of cooperation between the two countries, the development of the agricultural sector, the reinforcement of food security and the strengthening of the private sector. As such, the executive is recommending the emergence of a competitive, market-geared agricultural sector able to improve the quality of life, create employment opportunities, respect good environmental practices and contribute to maintaining habitats, biological diversity and the landscape.

The law-decree making the corporation official was published Monday, June 22 in the Official Bulletin.