Recommendation, page-1365

On the finance, he said the Angolan bank had their credit committee meeting on Tuesday and subject to a site visit by their CEO tomorrow, they hope to finalise that loan "very, very shortly".
If it didn't pass credit committee, there wouldn't be any point to a site visit. It might be that the site visit is a photo opportunity to formally announce approval of the loan.Tomorrow Angola time is tomorrow night our time so possibly an announcement Monday?
The loan is now for $15mill instead of $10mill which means they might now have what they needed to go straight to stage two.

A couple of interesting slides I took screenshots of.

The first shows details on how much could be added to Angola's $50bill economy through growing the agricultural sector. For comparison, oil is worth around $26bill. Agriculture could grow to that same $26bill over the next 10 years as shown in the slide below to diversify the economy, feed itself and export food and to "alleviate poverty".



This slide shows current fertiliser use per capita in Angola is under 3kg/capita. It is 62.5 globally and at least 15 in most other African countries on the list. Angola has a lot of growth potential to catch up.



We have seen this one before, showing the transport advantage of producing green ammonia locally of up to $200/t. That's big for a product selling currently for $400/t. Perhaps more importantly, he said that every 1c increase in the cost of electricity adds $120/t to the cost of green ammonia. Solar electricity is typically 5c so the extra 4c on top of what MNB has adds $480/t to something that can currently be bought for $400/t. Even buying at $400, it would still cost $550-600/t transported to Angola but Minbos has a huge advantage at 1.1c/kwh.