(3 Minutes Read)
A major investment deal was signed in Bangui, marking a turning point for the Central African Republic’s economic development. Valued at USD 1.2 billion, the initiative is spearheaded by India’s Mahasakthi Group and focuses on the cultivation and processing of sugarcane and cassava across 30,000 hectares. The project will engage local farmers extensively and is projected to create over 100,000 direct jobs.
The agreement, formalised in the presence of President Faustin Archange Touadéra, represents a strategic partnership between the Central African Republic and Mahasakthi. The signing ceremony included key figures such as Mahasakthi Chairman T Rajkumar, Economy Minister Richard Filakota, Finance Minister Hervé Ndoba, and SCIS Group CEO Albert F. Bengala.
Of the total land involved, 20,000 hectares will be dedicated to sugarcane and 10,000 to cassava. Mahasakthi will directly manage half of this area, while the remaining portion will be made available to local farmers, each operating at least five hectares. This inclusive approach aims to empower more than 3,000 local agro-entrepreneurs and stimulate national agricultural growth. Minister Filakota noted that the project reflects a renewed international confidence in the country, which boasts over 5 million hectares of arable land.
Rajkumar highlighted Mahasakthi’s extensive operations in India, where the group cultivates 100,000 hectares and processes 14,000 tons of sugarcane daily while employing over 100,000 people. He assured that a similar model would be applied in the Central African Republic, including a guaranteed purchasing system for crops from local farmers. Additionally, two power plants generating a combined 70 megawatts will be built, utilising sugarcane byproducts for energy.
Dr. Guy-Laurent Fondjo, President of Afriland First Holding and a key facilitator of the project, stressed its comprehensive nature. He explained that the initiative combines strong economic investment with social impact by actively involving local communities. “This project transforms planters into entrepreneurs, creating wealth that is both inclusive and sustainable,” he said.
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With groundwork already in progress, such as identifying suitable land and plant locations, the initiative represents a significant step toward economic revitalisation. This public-private partnership not only promises large-scale employment and industrial growth but also signifies a new era of opportunity and resilience for the Central African Republic.
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