PRESS OFFICE: Djembe Communication
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 company 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.
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 guard employment positions. To manage its operations in Huambo, Estrela will further appoint three managers including a Community Manager, a Planning Manager and a Sales 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. Estrela da Floresta will build a sustainable forest ecosystem that will provide greater community benefits for all Angolans in the near-to-long term. When made with a strong commitment to safeguarding the environment, timberland investments promote economic development, employment growth and overall social-economic development by creating jobs in the rural areas and most importantly, by supporting economic 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 with livelihood 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 ecosystem will 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 organisation 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 on implementing sustainable forest development procedures that adhere to global best practices, whilst balancing investment 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 US$250m allocated capital to the QG Africa Timber L.P. Estrela da Floresta will provide greater community benefits for 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. Estrela da Floresta aims to be third-party certified by the Forest Stewardship Council.
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