The Islamic Republic of Mauritania, the communities of Boghé and African Agriculture to enter an agreement for commercial farming development; phased investment of up to $500mm on expanse of Senegal-Mauritania River valley with potential of over 500,000

WASHINGTON, Dec. 19, 2022 /PRNewswire/ -- African Agriculture (AAGR), a Delaware domiciled USA company, which operates agricultural projects in Africa, has agreed to a public-private partnership with the Government of Mauritania and the communities of Boghé, (18 agricultural cooperative societies incorporating approximately 6,000 farmers, organized under GIE DYNN), on the Senegal River Valley for a phased commercial farming buildout up to $500mm of investment with potential of over 500,000 hectares of arable land. The initial program will launch with more than 2,000 hectares and an investment of $30mm US$ in its first phase to further the farming of Alfalfa for the purpose of providing superior quality feed for dairy cattle and providing increased agricultural production for the community. The agreement has been signed in conjunction with the visit of His Excellency President Mohamed Cheikh Ghazouani's visit to Washington, DC as part of the US - AfricaLeaders' Summit hosted by the United States Government and President Biden. After full development, the program is expected to have substantial impact on the Gross Domestic Product (GDP) of Mauritania and permanent job creation.