Mumtalakat establishes Bahrain Food Holding Company

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Mumtalakat establishes Bahrain Food Holding Company

Manama, Mar. 24 (BNA): Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of Bahrain, announced the launch of Bahrain Food Holding Company "BFHC" to accelerate growth and innovation that will bolster the Agri-food sector and support the kingdom’s efforts in addressing challenges in achieving food security.

Mumtalakat also announced the appointment of the following members to the Board of Directors of Bahrain Food Holding Company: Basim Mohamed Al Saie, Chairman; Sami Mohamed Zainal, Member; Khaled Ali Al Amin, Member; Yousif Khalifa Al Manea, Member; Eyad Redha Faraj, Member; Omar Ali Syed, Member; Mohamed Sadiq Al Rahma, Member.

Bahrain Food Holding Company will include Mumtalakat's existing food sector assets. The consolidation of these companies under Bahrain Food Holding Company will facilitate collaboration and integration prospects, while also serving as a foundation for the development of Bahraini expertise in this specialised field.

Bahrain Food Holding Company will prioritise investments in ventures and technologies that will enhance food production, processing, and distribution.

Shaikh Abdulla bin Khalifa Al Khalifa, Chief Executive Officer of Mumtalakat, noted that the establishment of Bahrain Food Holding Company aims to drive further growth and innovation across both the food and agribusiness sectors.

"This underlines our commitment to cultivating a positive impact and sustainability in the national food industry. It also underscores our dedication to addressing food security priorities for present and future generations in accordance with the Government’s national food security objectives," Shaikh Abdulla bin Khalifa said.

"By identifying and investing in innovative solutions, Bahrain Food Holding Company also aims to promote sustainable food manufacturing and agricultural practices that help reduce our reliance on imports, provide nutritious food, and stimulate manufacturing and distribution in the agri-food sector of the Kingdom," he added.

Bahrain Food Holding Company aims to prioritise its investment efforts in sectors including agri-food technology, sustainable agriculture, and food services, in pursuit of opportunities and partnerships that correspond with its overarching objective and approach of optimising its current assets and enhancing its portfolio to achieve long term sustainable growth.