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Wasim Alimohamed President, Mafcom

ANGOLA - Agriculture

Wasim Alimohamed

President, Mafcom


Wasim Alimohamed is President of Mafcom.

"In 2022, we launched many new industries, beginning with a spaghetti plant on an investment of around EUR15 million with an hourly capacity of five tons."
With ambitious plans to diversify further into food production and export to the surrounding region, Mafcom is optimistic about Angola and is investing accordingly.
How has 2022 been for the company?

In 2022, we launched many new industries, beginning with a spaghetti plant on an investment of around EUR15 million with an hourly capacity of five tons. We also invested in a sausage plant, which gives three to four tons per hour. We have been heavily investing in agriculture, where we are planting coffee, soy, and palm. We are more focused today on local manufacturing as trading is dying down in Angola. We are also engaged in lease-holding, frozen food, and pharmaceuticals. We have invested in Club Naval and we already have 300 kids enrolled in the school. The reason we chose to go into education was to provide it at a better price for those who cannot afford it. We follow the Cambridge curriculum and have Angolan staff from abroad.

How could Angola become more internationally competitive?

We need to stop relying on external markets and instead develop local content. That is why we invest in industries where we see great potential. We support the local community by making things here and supplying them at a cheaper price. We saw positive demand for sausage because we used to trade the product. So, we decided to invest and manufacture locally. We want to give back and also be able to export. We are almost in all the provinces and now we have plans to open in Soyo and Dundo as well.

Will you be creating new jobs?

We built a new warehouse in the ZEE and employ about 500 Angolans there to help us run our industries. We want to support more Angolans and also bring in people from abroad where necessary. In 2022, we employed about 500 Angolans. We have a team that we brought in from outside to teach our employees on how to handle food; the business is highly sensitive and has to be sanitary. Everything at our facilities is food grade, including the pallets.

What are the investment opportunities in Angola?

Investment is all about industry right now, as Angola’s trading businesses are completely dying. In 2022, we invested EUR50 million in the country and want to put the industries online. In 2023, we are looking at more extensive industrial activity. Investing in Angola is capital intensive. The market is competitive, smaller players have trouble, and you have to deal with currency issues. Prices change daily due to exchange rate fluctuations.

Who is your target client and what are their needs?

In the food business, our target is supermarkets. We have over 300 items in the Alimo brand with specialties such as tuna, popcorn, ketchup, and mayonnaise. We also have “cesta basica,” which features the basic needs such as rice, oil, spaghetti, farina, and salt. Our target, therefore, is the mass market. In frozen food, we have chicken and other meat, again set up for the mass market. Pharmaceuticals are a mass market, too, and we sell to retail pharmacies. We are wholesalers and distributors and do not engage in retail.

What plans do you have for expansion?

We are based in four countries: Angola, Democratic Republic of Congo, Republic of Congo, and Ghana, which we entered three years ago. We have a margarine factory we established four years ago from where we export to Congo and Ghana. We export spaghetti to all our markets. In terms of agriculture, we have coffee, which we export to Spain, Portugal, and many other European countries. In Africa, we are heavily focused on industries, especially high-volume items like spaghetti. In the future, palm oil is set to become a large market, and we could potentially set up an oil refinery in a country yet to be selected. West Africa offers the possibility of exporting without incurring duties if a company locates their industry there.



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