January 28, 2016

The Chairperson of SOBEK Trade and Investment (Egypt), Mrs. Manal Abdel Moneim and the chairperson of the African Union Commission, H.E. Dr. Nkosazana Diamini Zuma have signed a Memorandum of Understanding (MOU) On January 19 at the African Union Headquarters in Addis Ababa, Ethiopia for the formation of a Pan African Agribusiness Holding Company.

The MOU was designed to target the development of women in agribusiness by facilitating investments and providing support to their businesses across Africa.

The launch of the Pan African Agribusiness Holding Company was sparked by African Union’s 2014 theme of Year of Agriculture and Food Security, and its 2015 theme of Year of Women’s Empowerment and Development toward Agenda 2063, in addition to the African Agribusiness Strategy.

At the signing ceremony, African Union chairperson, Dr. Diamini Zuma stated, “I am very pleased that women in the private sector who are doing so well have not forgotten to support and pull other women along. I am very much inspired”, adding that this private sector development was “in line with Africa’s Agenda 2063”.