New Timber Company to Develop Angolan Forest Ecosystem by Furthering Economic Development and Increasing Prosperity for Local Communities
Luanda, Angola, 18 October 2016:Estrela da Floresta, a company aimed at developing Angola's forest ecosystem, has announced commencement of its operations with the official opening of an office in Huambo and additional plans to open a second subsidiary office in Lobito. The companyhas acquired over 80,000 hectares of plantations and additional land bank area in the Planalto region of the country from the Angolan Government to develop large-scale wood fiber plantations.
As part of its commercial strategy, Estrela da Floresta has commenced wood sales from its eucalyptus plantations. First contracts were signed in September 2016 and customers have already started wood harvesting operations. Estrela da Floresta has also launched a drive to recruit Angolans for 50 forest guardemployment positions. To manage its operations in Huambo, Estrelawill further appoint three managers including a Community Manager, aPlanning Manager and aSales Manager.
Jean-Claude Bastos de Morais, Chairman of Quantum Global, stated, “We are very pleased with the establishment of Estrela da Floresta, which represents a significant milestone for the Quantum Global Timber Fund. Estrelada Floresta will build a sustainable forest ecosystem that will provide greater community benefitsfor all Angolans in the near-to-long term. When made with a strong commitment to safeguarding the environment, timberland investmentspromote economic development, employment growth and overall social-economic development by creating jobs in the rural areas and most importantly, by supportingeconomic diversification.”
The existing plantations in the Planalto region will support the early establishment of wood processing industries in the area and contribute to the creation of industrial employment and a forest industry based cluster. Estrela da Floresta, in conjunction with local partners including the Angolan Forestry Department, will work to provide communities withlivelihood opportunities, improve turnover for Estrela da Floresta commercial partners, reduce timber waste and make timber more readily available for the domestic market.
José Evangelista, an executive of Estrela da Floresta, said, “Estrela’s aim is to promote sustainable forestry practices across Africa ensuring the implementation of measures that protect the natural habitat as it is critical for the environment.Estrela da Floresta’s focus on building a sustainable ecosystemwill create new commercial opportunities by bringing to the market products that have been traditionally difficult to access in the African continent.These new commercial opportunities will also lead to significant job creation and long term economic growth opportunities in Angola.”
Estrela da Floresta aims to be third-party certified by the Forest Stewardship Council. The Council is a global, not-for-profit organization dedicated to the promotion of responsible forest management worldwide.
“Historically, the Planalto region has witnessed illegal deforestation, resulting in significant soil erosion.Therefore, a significant emphasis will be placed onimplementing sustainable forest development procedures that adhere to global best practices,whilst balancinginvestment return requirements with strong environmental considerations,” commented Evangelista.
About Estrela da Floresta:
Estrela da Floresta has been established by Quantum Global as part of its USD $250 million allocated capital to the QG Africa Timber L.P.Estrela da Floresta will provide greater community benefitsfor all Angolans in the near-to-long term by building a sustainable forest ecosystem. Estrela da Floresta has acquired over 80,000 hectares of plantations and additional land bank area in the Planalto region of the country from the Angolan Government to develop large-scale wood fiber plantations.Estrelada Floresta aims to be third-party certified by the Forest Stewardship Council.
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Olivio Gambo
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