USAID, World Cocoa Foundation unveil US$2m fund to boost cocoa sector in Ivory Coast

IVORY COAST – The United States Agency for International Development (USAID) in partnership with the World Cocoa Foundation has announced a US$2 million fund to boost cocoa sector in Ivory Coast. Mark Green, USAID Administrator the funds will also facilitate empowering women to fully participate in the value chain outlining that the agency has in…

Barry Callebaut achieves traceability of a third of its global cocoa volume

SWITZERLAND – The Swiss cocoa and chocolate company, Barry Callebaut has said that it has established traceability for a third of its global cocoa volume, bringing it closer to achieving its ambitious cocoa sustainability goals. By 2025, the company aims to source 100% of the group’s ingredients sustainably by 2025. This commitment is supported by…

AfDB approves US$23m to support agribusinesses in eight African countries

AFRICA - The African Development Bank (AfDB) through the Board of Directors of the Agriculture Fast Track Fund (AFT) has approved US$23 million grant to support agribusiness Small-and-Medium- sized Enterprises (SMEs) in eight African countries. The fund will be used to finance agribusiness in Ghana, Burkina Faso, Ethiopia, Malawi, Mozambique, Nigeria, Senegal and Tanzania with…

Industrialisation lobby group proposes US$2bn bond to support Ghana’s agriculture sector

GHANA – The Alliance for Development and Industrialization (ADI), an industrialisation advocacy group in Ghana, has tabled a US$2 billion Transformational Commodity Fund (TCF) for the development of a sustainable agriculture sector in Ghana. According to ADI the US$2 billion fund will support the entire sector and adjourning structures such as roads infrastructure at community…

Ethiopian industrial conglomerate invests US$1.64m in new flour milling plant

ETHIOPIA – The A.S.S.E.S. Industry Plc, an Ethiopian conglomerate, has invested US$1.64 million in establishing a modern wheat flour processing plant in Amhara Regional state, Ethiopia. Established on a 1,254 Square metre land, the new plant has a processing capacity of producing 82000 kilogrammes of wheat flour per day. According to Sema Melaku, assistant factory…

Ghana commences trade of soybean at commodity exchange platform

GHANA - The Ghana Commodity Exchange (GCX) has commenced the sale of soybean through the platform in a move to formalise and develop the value chain. Speaking during the launch of soybean on the Exchange platform, Dr Kadri Alfah, the Chief Executive officer of GCX said that the platform will improve the value chain, reports…

Kenya’s monthly coffee earnings sink 24% to US$76.98m as global glut persists

KENYA – Kenya's Coffee earnings have continued to record a decline as the country’s March 2019 sales plunged 24% to US$76.98 million (Sh7.8 bn) against US$102.65 million (Sh10.4bn) realised in the same period last year, data from the Coffee Directorate reveals. Daniel Mbithi , chief executive at Nairobi Coffee Exchange said that the decline in…

South Africa’s Kaap Agri reports 28.7% growth in revenues as conditions rebound

SOUTH AFRICA - Kaap Agri, South Africa’s agricultural retailing and service company, has reported a 28.7% growth in revenues to R4.4bn in the six months to end March 2019 supported by drought recovery in some operating regions. The Johannesburg Stock Exchange (JSE) listed firm however, said that gross profit in relation to revenue growth did…

Ghana embarks on efforts to revamp coffee sector, mulls new database

GHANA – The Coffee Federation of Ghana (CFG) has embarked on efforts that seek to revitalise the coffee industry in the country by rolling out initiatives aimed at increasing production of the commodity. As one of its mandates to support all aspects of the coffee value chain in Ghana through advocacy and networking, CFG has…

Kenya mulls commercial cocoa farming as investor launches cocoa production project

KENYA – Kenya is set to join the continent’s leading cocoa producers following latest development that has seen the Kenya Agricultural Research Organisation (KALRO) successfully conduct a feasibility study on the crop viability in the Coast region. The study conducted by KALRO in collaboration with Kilimo Sasa Fund (KSF) has also paved way for the…