Switzerland’s Syngenta to invest $500m in Africa over next 10 years

18 May 2012 15:16  [Source: ICIS news]

LONDON (ICIS)--Syngenta is investing $500m (€395m) in its Africa business over the next 10 years to expand its presence in the region, the Switzerland-based agrochemicals company said on Friday.

Syngenta said the investment will support its target of $1bn sales in Africa in 10 years.

“Africa has become one of our strategic growth regions and our aspiration is to contribute to the transformation of African agriculture,” said CEO Mike Mack.

The investment will include the recruitment and training of over 700 new employees.  

The company said the target for the 10-year period is to reach over 5m farmers and to enable productivity gains of 50% or more, while preserving the long-term potential of the land.

“We can bring the knowledge, tools, technology and services farmers need whatever the size of their field or the type of cropping system. Africa needs a fully integrated approach to crops because there is no single technology solution,” said Mack.

($1 = €0.79)

By: Leigh Stringer
+44 208 652 3214

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