Lindsay commented on how the oil & gas industry brought in export hard Dollars which allowed the building of considerable infrastructure in Angola, one of the reasons the Govt is very happy for us to expand export opportunities.
One thing I just remembered from the AGM, was the export customer who signed the LOI with us, is looking to send grain etc back to Angola instead of the ship returning empty. This greatly reduces the shipping cost. Angola is a big importer of food another reason the Govt is so keen to grow the agricultural sector especially with its rapidly growing population.
Lindsay stressed the importance to us in having USD. It puts us in a very strong position as most local companies have lots of Kuanza but no USD. For example in the last update they mentioned blending our product, what they referred to as primeiro+ Having USD would allow us to import the N & K etc, even if you are Kuanza rich it is very hard (think costly) to exchange this into a hard currency in Angola.
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