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7/16/24, 3:44 PM Thani Al Zeyoudi, Cote d'Ivoire Prime Minister inaugurate UAE-backed cashew processing factory in West African nation
processing factory in the West African country, signaling an important milestone in
the two nations' economic relations.
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.
Cote 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 Cote
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 Cote d'Ivoire. "The opening of this
impressive cashew-processing factory underlines the UAE's belief in the economic
potential of Cote 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
Cote 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 Cote
d'Ivoire is a country rich in potential. "This factory not only represents a major
investment in the Cote d'Ivoire market, it is also testament to the strength of the
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