African Potash Signs Fertilizer Distribution MOU with Ugandan Government
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Fertilizer specialist African Potash as signed a non-binding Memorandum of Understanding (MoU) with the Ugandan government to develop a distribution network for the country’s farmers.
The MoU is supported by the Common Market for Eastern and Southern Africa (COMESA), a trading group of twenty African countries that is already in partnership with African Potash.
Under the agreement, African Potash will source and deliver 20,000 metric tonnes of fertilizers from overseas to the Ugandan capital Kampala to bought by the government.
It will also undertake a feasibility study to assess the viability for the manufacture of fertilizers in Uganda using local materials that and may lead to a manufacturing agreement.
The MOU is subject to the signing of definitive legally binding agreements.
Source: (June 13, 2016) Proactive Investors
About African Potash
African Potash is focused on creating a vertically integrated platform for the mining, production and distribution of fertiliser, which the Board believes could generate material value for shareholders. A combination of rising demographics and growing affluence in the developing world has led to a structural shift higher in global demand for agricultural produce. Accommodating the increase in demand for foodstuffs will require a greater use of fertilisers, which creates an opportunity for a pan-African, London listed vehicle, focussed on fertilizer.
To stop by African Potash’s website, CLICK HERE
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