Africa: humanity has long appreciated forests for the energy, food and medicine they provide, and as a source of wood products for construction and other purposes. But the role of forests in supporting agriculture, preserving biodiversity, protecting water supplies, creating jobs, increasing domestic GDP and moderating the impact of climate change are less well-understood.
It is an industry often crucial to the well-being of people in large parts of Africa. Angola, for example, has a total forest area of 60 million hectares, representing 20% of its total land area including a rich variety of flora and fauna. This is combined with relatively stable governance as well as various measures the government has implemented to improve Angola’s forest ecosystem such as creating ties between the Ministry of Agriculture and the Ministry of Planning, the Ministry of Industry, and the Ministry of Water and Energy. The country’s exotic plantation area is small (0.2% of forest area) but with significant potential for the economy.
Located in the Planalto region of Angola, Quantum Global Group, through its US$250m Timber Fund, has acquired 18 land concessions leased from the government of Angola. The objective is to manage and rehabilitate the old Angolan Government eucalyptus pulpwood plantations, with an aim to build an integrated forest industry in the provinces of Huambo, Benguela, Huila and Bie to develop the country’s forest ecosystem.
Natural resources have a large role to play in Africa, specifically the timber industry due to its enormous potential. Through the Timber Fund, we have opted to plant carefully selected eucalyptus species, given its many uses and reputation as one of the best options for curbing deforestation of natural woodland in Africa.
Eucalyptus is not only sustainable but also plays a driving role in the supply of raw materials for the manufacturing industry, whilst presenting tremendous benefits for local communities. The sale of wood will be used for both national and regional exports, including residential and other basic needs.