African investment company Lonrho says it will continue to concentrate on the growth of its existing portfolio of businesses that are specifically aligned to the continent’s economic growth.

The company says the African market has emerged from the global financial crisis in a strong position and growth projections for coming years are “very strong”.

Lonrho operates in 17 countries across Africa in sectors including agriculture, energy, construction, tourism, IT, aviation and mining.

Turnover from operations for the first six months ended March 31, 2010, increased by 23,5% on a comparable currency basis to reach £47,3-million.

The agribusiness division remains Lonrho's largest division. Rollex, in which Lonrho holds a 51% stake provides the essential infrastructure, cold store, processing, packing and transport logistics required for African produce to reach markets both in Africa and internationally.

The company noted in its results that it would increase its stake in Rollex to 100% soon, and was also developing John Deere franchises in Angola and Mozambique.

Source: Engineering news