Syngenta looking to invest $US 500 million in Africa

(Reuters) – Syngenta, the world’s largest agrochemicals company, said on Friday it is planning to invest some US$500 million in Africa to help sow the seeds of a US$1 billion business in the region over the next 10 years.

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

To achieve its target, the Swiss company plans to invest over US$500 million.

The money will be used to recruit and train over 700 new employees, develop distribution channel networks, logistics and local production facilities and increase access to technology for smallholders and large-scale farms.