Presidential Decree to support local production in Angola•...

Presidential Decree to support local production in Angola• Presidential Decree no. 213/23 came into effect 1 January 2024 andprioritises local production over imports for certain goods, includingfertilizers. Authorisation for imported fertilizers is now required, which willonly be granted when the importer demonstrates it has exhaustedpurchasing opportunities with registered national producers.• This means phosphate fertilizer customers will be required to purchasefrom Minbos, as it is the only producer of phosphate fertilizers Angola(currently 100% of such fertilizers are imported).• As well as building a moat around the Company’s business, the law alsobenefits and strengthens Minbos customers, as they are producers of foodand other agricultural products that are largely imported into Angola.