Since 2017 the company has diversified its business into the food and agribusiness. The business is becoming an increasing part of the company’s activities and has a particular focus on Africa. Currently, the company provides a large variety of finished food products, as well as raw agricultural commodities, such as wheat, corn, rice and sugar to Africa at affordable prices. The company’s agribusiness forms a substantial part of the Empowering Africa project that was initiated by the company’s founder in 2017.
Since early 2019 Paramount teamed up with the local grain trader Harvest Group S.A. and provided them with significant financial as well as operational support. Through our partnership we have been able to grow a very important business of agricultural supplies to Africa at affordable prices. Due to the success of this cooperation, we decided together in December 2020 to form Harvest Commodities SA and operate the agribusiness on a joint basis.
The Company supports farmers in FSU countries, including Kazakhstan, Russia and Ukraine by providing them with financial assistance to increase their harvest and improve available logistical infrastructure (such as access to the Group’s silos and transportation and transhipment facilities) enabling them to quicker bring their products to market. Thanks to this successful cooperation the agribusiness is growing and forming and ever-increasing part of Paramount’s overall commercial activity.