African Development Bank supports Guinea’s honey value chain with US$642K grant

GUINEA – The African Development Bank has partnered with the Republic of Guinea to improve honey production, build the competitiveness of the value chain and increase farmer’s income.

Under the project AfDB has issued a grant of C$ 846,360 (US$642K) through the African Trade Fund (AfTa), which represents 86.8% of the total cost of the initiative, with a counterpart of C$122,550 (US$93K) coming from the beneficiaries.

ADVERT

The funding, according to AfDB will be channelled through the Peanut, Shea and Honey Production Cooperative (COPRAKAM), which has 1,500 members in the honey sector.

The project will be carried out in three prefectures i.e Dabola, Kouroussa and Faranah and targets to strengthen the capacity of actors; improve honey production and processing techniques for better access to existing and new markets; preserve biodiversity and mitigate the effects of climate change.

“Growing demand for honey offers huge business benefits for Africa, and Guinea could integrate the global value chain by improving honey production and processing through compliance with safety and health protection standards.”

Africa Development Bank

The project intends, through technical support, to increase the number of actors involved in the sector to 2,450 members.

“The technical support of the project, in the structuring and organization of the sector and the training of beekeepers in the practice of an improved activity, will help the integration of new actors in the sector,” indicated AfDB.

ADVERT

Guinea enjoys a rich and varied honey potential, with a production of 3,171 tons in 2015.

It contributes significantly to the fight against food insecurity and the improvement of household income as a liter of honey sells for US$ 1.77 in the country, resulting in a potential local income of over US$ 4 million.

The potential export revenues are estimated at over US$ 16.8 million. From 2000 to 2013, honey exports across the continent jumped 613%.

“Growing demand for honey offers huge business benefits for Africa, and Guinea could integrate the global value chain by improving honey production and processing through compliance with safety and health protection standards,” stated AfDB.

In 2017, AfTa also granted assistance of approximately US$ 343,000 to Rwanda for the establishment of honey value chain and production growth.

The general objective of the project, which targeted 1,000 beneficiaries in the Rulindo district, was to increase the honey production capacities of the cooperatives so that they can access structured markets.

Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. SUBSCRIBE HERE

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.