AfDB to invest US$20m in Zimbabwe’s agricultural value chain

ZIMBABWE - Africa focused finance institution, African Development Bank (AfDB) has lined up US$20 million of investments in an agricultural value chain development programme in Zimbabwe, the Herald reports. The programme, which awaits approval from the government is looking to support three components of the agricultural value chains that is, beef development, horticulture development and…

AfDB contracts Kenyan firm in a US$1.78m grant to improve maize production

KENYA - The African Development Bank (AfDB) has unveiled a US$1.78 million initiative dubbed Maize Compact programme and has contracted smallholder firm, African Agricultural Technology Foundation(AATF) to distribute high-yielding maize varieties among smallholder farmers. Kenya is among 12 countries in Africa that will benefit from the programme which aims to increase maize production by at…

FAO and AfDB join forces to mobilize US$100m agricultural investment in Africa

GHANA- United Nation’s agency Food and Agricultural Organisation (FAO) and the African Development Bank (AfDB) have joined forces to mobilize US$100 million investment aimed at boosting the agricultural sector in Africa. The initiative projected to run for the next five years is also geared at tackling hunger, malnutrition and increase economic prosperity on the continent.…

AfDB to avail US$1.5bn annually to support young agriculture entrepreneurs in Africa

CÔTE D’IVOIRE - The regional development finance institution Africa Development Bank (AfDB) has said it will avail more than US$1.5 billion annually towards agriculture in support of young entrepreneurs in the sector across the continent, the Herald has reported. The financial support was part of its efforts to make agriculture more attractive to young people…

AfDB to increase fish production in Africa by 5m tonnes by 2025

NIGERIA - The multilateral development finance institution, African Development Bank (AfDB) Group has announced it is targeting to increase aquaculture production in Africa by five million tonnes by 2025. Through its Technologies for African Agricultural Transformation (TAAT) programme, the bank is looking to increase inland water fish to enable Africa become self-sufficient in fish production,…

AfDB to invest US$120 million to boost cassava and rice production

NIGERIA - The African Development Bank Group has revealed plans to invest US$120 million over the next two to three years in the production and transformation of cassava among other important commodities. As part of a strategy to achieve agricultural diversity, the funding will also boost production of maize, sorghum/millet, wheat, livestock, aquaculture, high iron…

Morocco to receive US$236m from AfDB to reinforce agricultural value chains

MOROCCO - The Board of Directors of the African Development Bank, Côte d’Ivoire’s multilateral development finance institution has approved US$236 million loan for Agricultural development in Morocco. The funding will finance the Program for Supporting the Inclusive and Sustainable Development of Agricultural Value Chains (PADIDFA) while reinforcing sustainable job creation. The program aims to support…

AfDB, UN join hands to improve Africa’s industrial transformation

AFRICA - The African Development Bank (AfDB) has joined partners with the African Union Commission, African governments, United Nations agencies and development finance institutions in a bid to renew support for the industrialization of African countries. The agencies have also agreed to undertake and implement joint programmes for increased development impact, especially in mobilization of…

Ghana, Ivory Coast seek loan to add value to cocoa 

GHANA - Ghana and Ivory Coast are seeking a joint US$1.2 billion loan facility from the African Development Bank (AfDB) to establish warehouses and set up chocolate manufacturing facilities, a senior Ghanaian government official has said. The plea is in response to the sharp decline of the price of cocoa on the world market, the…

AfDB debuts platform to build Africa’s food and cuisine value chain

IVORY COAST - The African Development Bank (AfDB) has partnered with a number of organisations with a goal to boost the contribution of the food and culinary sector in Africa, thereby creating jobs and improving the economies across the Continent The Bank, through an online initiative, is advocating closer linkages between development partners and policy-makers…