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Home»Business»India’s Beta Group commits to $100mn investment in Guinea-Bissau cashew sector

India’s Beta Group commits to $100mn investment in Guinea-Bissau cashew sector

The Kerala-based Group which owns the Nut King and Ole brands aims to procure, process, and export cashew from Guinea-Bissau.
News DeskBy News DeskNov 28, 2022
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Guinea bissau in cashew
Image: Beta Group
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Guinea-Bissau, Africa: The Council of Ministers of Guinea-Bissau recently gathered in an Extraordinary Session at the Republic Palace in Bissau, under the Patronage of General of the Umaro Sissoco Army Pack, His Excellency the President of the Republic and Supreme Commander of the Armed Forces.

One of the major talking points of the gathering was a Memorandum of Understanding between Beta Group of the Republic of India and the Council of Ministers of Guinea-Bissau that was signed before.

The Kerala-based Group which owns the Nut King and Ole brands aims to procure, process, and export cashew from Guinea-Bissau. The company is to set up a $100 million unit in the region.

Beta Group In Guinea Bissau
Image: Beta Group

Mr. Fernando Vaz, Minister of Tourism, Guinea-Bissau, Dr. J Rajmohan Pillai, Chairman, Beta Group, Directors Mr. Rajnarayanan R Pillai, and Mr. Sachidanandan PS were present at the function held at the Guinea Ministry of Economy, Planning and Regional Integration.

According to the MoU, Beta Group would invest $100 million over the course of five years in Guinea-Bissau’s cashew sector. A division of Beta Group Nabisco Commodities, was among the 1st enterprises to discover cashew in Guinea Bissau and is still one of the country’s top importers.

Beta Group In Guinea Bissau
Image: Beta Group

Beta Group has diversified its activities both laterally and horizontally throughout the years. A Memorandum of Understanding has been signed by Beta Group’s international dry fruit and nut business, which will process and export value-added cashews from Guinea Bissau.

Executives from Beta Group voiced confidence that the new MoU will usher in a second industrial revolution in the economy of Guinea Bissau. Officials from Guinea Bissau’s Ministry of Commerce confirmed that the Beta Group’s next phase of the operation will serve as a boost for the country’s cashew dealers, growers, and exporters.

GULF GENERAL: Etihad Airways and Garuda Indonesia deepen Partnership

Beta Group $100 million Project Beta Group In Guinea Bissau cashew sector investment in Guinea Council Of Ministers Of Guinea Bissau Guinea Bissau Beta Group Beta Group MoU Kerala Based Beta Group J Rajmohan Pillai Guinea Ministry Of Economy
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The above news/article was published by a desk reporter at Emirati Times who sourced, compiled, and corroborated this content. For any queries or complaints on the published material, please get in touch through WhatsApp on +971 5060 12456 or via Mail (at) Emirati Times (dot) com

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