Page 480 - MOE ENGLISH PR REPORT - JULY 2024

The state-of-the-art facility, which is located in the northern city of Boundiali, is owned and

operated by Pan African Agro Commodities Holding Limited (PAACH), an entity incorporated

in the Abu Dhabi Global Market (ADGM) that seeks to promote West Africa’s domestic

agriculture sector and support the development of its key exports.

Côte d’Ivoire is one of the top five exporters of cashews globally, with around 80 percent of its

annual production sold to overseas markets. Cashews are also Côte d’Ivoire’s second-most

important export product, contributing 9 percent to the nation’s GDP. With a daily processing

capacity of 100 metric tonnes, the facility is expected to create 500 direct and 3,500 indirect

jobs and enhance the country’s role in global supply chains.

In remarks delivered at the launch ceremony, Al Zeyoudi said the facility is an embodiment of

the UAE’s commitment to West Africa and expressed his optimism for the future of relations

between the UAE and Côte d’Ivoire. “The opening of this impressive cashew-processing

factory underlines the UAE’s belief in the economic potential of Côte d’Ivoire, and offers a

compelling model for further investments into the region as a whole. This is one of the most

dynamic economies on the continent, one that is adopting bold economic policies and

ambitious reforms designed to deliver sustained, diversified growth. We envision huge

potential for private-sector collaboration between our nations as we support the development

of Côte d’Ivoire’s industrial, agricultural and supply chain capabilities. My visit this week

marks an important step in strengthening the economic partnership between our two

countries, which I look forward to building on in the years ahead.”

In his remarks at the inauguration, Abdul Jabbar Al Sayegh, Chairman of the Board of

Directors of Pan African Agro Commodities Holding Limited, stressed that Côte d'Ivoire is a

country rich in potential. “This factory not only represents a major investment in the Côte
d’Ivoire market, it is also testament to the strength of the bilateral relations between the UAE

and Côte d’Ivoire. We are committed to contributing positively to the local economy, and are
confident that our company and its investments in the Ivorian economy will enhance growth

and contribute to economic and social progress. It will be a new gateway to opportunities for

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minister