24 MAR 24

Bahrain Mumtalakat Holding Company (“Mumtalakat”), the sovereign wealth fund of the Kingdom of Bahrain, announced today the launch of Ghitha to accelerate growth and innovation that will bolster the Agri-food sector and support the Kingdom of Bahrain’s efforts in addressing challenges in achieving food security.

In addition, Mumtalakat announced the appointment of the following members to the Board of Directors of Ghitha, bringing together a wealth of experience and expertise to strengthen the company’s capabilities and support further growth:

Mr. Basim Mohamed Al Saie Chairman
Mr. Sami Mohamed Zainal Member
Mr. Khaled Ali Al Amin Member
Eng. Yousif Khalifa Al Manea Member
Mr. Eyad Redha Faraj Member
Mr. Omar Ali Syed Member
Mr. Mohamed Sadiq Al Rahma Member
Bahrain Food Holding Company will include Mumtalakat's existing food sector assets. The consolidation of these companies under Ghitha will facilitate collaboration and integration prospects, while also serving as a foundation for the development of Bahraini expertise in this specialised field. Furthermore, Ghitha will prioritise investments in ventures and technologies that will enhance food production, processing, and distribution.

Commenting on the announcement, His Excellency Shaikh Abdulla bin Khalifa Al Khalifa, Chief Executive Officer of Mumtalakat, welcomed the newly appointed board and said: “The establishment of Ghitha 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."

“By identifying and investing in innovative solutions, Ghitha 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,” H.E. Shaikh Abdulla added.

Ghitha 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.