DAL Group for Food Processing Obtains 50 Million Dollars from BII
21 March, 2023
DAL Group for Food Processing Obtains 50 Million Dollars from BII
By: Al-Hidai Ahmed
Khartoum, Mar.20 ( Sudanow): The British International Investment Corporation (BII), the Financial Corporation for Development in the United Kingdom and the leading investment in Britain, has announced it allocated investments worth 50 million dollars for Invictus Trading Company, the main partner responsible for import operations in DAL Group in Sudan.
The British International Investment (BII) has issued a press release stating that the primary goal of these investments is to enable the "DAL. Group" to provide basic foods during periods of turmoil that may affect global markets, or when facing challenges at the level of supply chains, or due to climate changes that threaten food security in an unprecedented manner in Sudan.
The British Ambassador to Sudan HE Giles Lever was quoted by saying ‘’I am pleased with the success of the British International Investment Corporation, (BII), the Financial Corporation for Development in the United Kingdom, in pumping its first investments in the Republic of Sudan on ground that it believes in the importance of this investment in maintaining the continuity of the business of one of the most important economic sectors during these exceptional circumstances in addition to its role in highlighting the UK's continuous commitment to support the Sudanese people, and ensuring social and economic stability in Sudan.
He stressed that this investment in a local African company embodies the goal of the British International Investment Corporation (BII) to support local companies contributing to enhancing economic development.
The Head of the Corporate Office at the British International Investment Corporation Mr. Richard Palmer shared the British Ambassador the viewpoint on providing support to “Invictus Trading and DAL Group with aim of enabling them improve the level of basic food supplies for the people of Sudan. Palmer furthermore highlighted that the BII investments coinciding with the continued climate change and the escalation of the Ukrainian crisis and their impact on economic growth levels and disrupting supply chains.
The Chairman of the Invictus trading Company and DAL Group Osama Dawood Abdel Latif, said, “This financing provided by the British International Investment Corporation (BII) is of exceptional importance due to its role in providing sustainable food supplies in addition to highlighting our long -term historical efforts to ensure food security for the people of Sudan, and contribute to creating a real and permanent positive impact through the societies in which we work.’’
He indicated that with this investment, the group will be able to purchase 280,000 metric tons of wheat annually and uses it in developing biological food products, which means providing more than 20 billion of a loaf of bread for Sudanese society. He went on to say that “The challenges resulting from the policies of macroeconomics and growing conflicts and the rise in export expenditures globally, in addition to the exceptional circumstances resulting from climate changes such as drought and floods, could lead to the occurrence of a food crisis in Sudan.’’ Dawood noted that the humanitarian response plan for the year 2023, estimated that up to a third of Sudan's population - about 11.7 million people - will suffer from food insecurity in 2023.
The "Dal Group" is distinguished by its institutional heritage that dates back to more than 70 years in the Sudanese market. The DAL Group Chairman said, the group is interested in providing basic foods in Sudan through its subsidiaries and it employs more than 7,000 people. It also has an ambitious forward-looking vision to strengthen its partnerships with small farm owners. Dal Group is the largest importer of wheat in the country, and the leading company in providing basic food products to the population based on enormous capabilities in terms of distribution operations and its expanding network of sales points throughout Sudan, concludes the chairman.
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