ABC Fund deploys more capital to support agribusinesses in West Africa

WEST AFRICA – The Agri-Business Capital Fund (ABC Fund), managed by Bamboo Capital Partners, Injaro and Agriterra, is investing a total of EUR 1.6 million (US$1.85m) in two agro-processing companies in the West Africa region. The capital injection will be channelled towards two shea butter processors – Mali Shi, based in the surroundings of Bamako, Mali, and Bio Amandes, in the northern region of Côte d’Ivoire. Mali Shi, deemed to be the first operational industrial shea butter processing plant in Mali, will receive EUR 800,000 (US$927,000) working capital facility to…

Read More

Uganda attains 49.5% rise in value of coffee exports in September due to favourable global prices

UGANDA – Uganda has fetched US$66.62 million from the export of 585,576 60-kilo bags of coffee in September 2021, registering a 49.56% rise in value and 15.82% jump in quantity compared to the same month last year. Despite the rise in both quantity and value obtained from the export of the green gold during the period under review, September’s production was much lower compared to the previous month’s traded volume which stood at 700,035 bags worth US$75.09 million. The recently exported amount comprised of 543,279 bags of Robusta valued at…

Read More

Brazil farmers plant more soybean incentivized by high domestic prices

BRAZIL – Brazil is expected to produce a record amount of soybeans as more farmers are incentiviced to grow the crop due to its attractive domestic price, according to the Foreign Agricultural Service of the US Department of Agriculture (USDA).  Area under soybean farming is estimated to grow to 40.5 million hectares for 2021/22, up from 39 million hectares in 2020/21.  As more acreage comes under the crop, USDA estimates production at 145 million tonnes, based on a yield of 3.58 MT per hectare.    This represents a six percent production increase compared to 137…

Read More

European parliament makes new proposals to improve farm to fork strategy

EUROPE – The European Parliament has released a report that outlines areas for improving Europe’s “Farm to Fork Strategy,” originally proposed by the EU Commission in May 2020.  In the report, Members of the European Parliament (MEPs) put an emphasis on greener food production and made proposals for binding targets for cutting back on pesticides, fertilizers, and antimicrobials in farming.  The Parliament also called for healthier food environments, urging the EU to regulate the marketing and advertising to children of food high in fat, sugar, and salt.   MEPs also want…

Read More

OPEC Fund extends US$25 million credit facility to boost regional agricultural integration in Benin, Togo

WEST AFRICA – The OPEC Fund for International Development has signed loan agreements with the governments of Benin (US$15 million) and Togo (US$10 million) to support the Regional Program for the Integration of Agricultural Markets (PRIMA). The Program’s objective is to strengthen the agriculture and trade sectors to sustainably increase the income and food security of rural households. OPEC Fund’s loan will contribute to finance components of the coordinated regional program PRIMA in Benin and Togo, and is co-financed by the International Fund for Agricultural Development (IFAD) and the governments…

Read More

WFP gains US$6m support from Japan to boost nutrition response in Ghana, The Gambia

WEST AFRICA – The United Nations World Food Programme (WFP) welcomes a US$6 million contribution from the Government of Japan to boost food security in Ghana and The Gambia. In Ghana, the international agency will channel US$4.5 million towards a public-private partnership project which aims to make quality nutrition and health services available to 250,000 people. In collaboration with the Ministry of Health and the Ghana Health Service, WFP will partner with three private sector Japanese firms, The Ajinomoto Foundation (TAF)/KOKO Plus Foundation (KPF), NEC Corporation and Sysmex Corporation, to…

Read More

AfDB champions for more investments in Africa’s agriculture sector to boost food security

AFRICA – The African Development Bank Group has raised a call for all African and global leaders as well as development organizations, to increase investment in agricultural technologies that boost Africa’s food production and food security in the face of climate change. The continent has immense potential to feed itself and to become a breadbasket to the world as about 65 percent of the Earth’s remaining uncultivated, arable land is in Africa. However, that potential is threatened by erratic weather extremes. It is also stunted because a majority of African…

Read More

GE Foundation supports FoodForward South Africa to offer food relief to communities impacted by COVID-19

SOUTH AFRICA – FoodForward SA, the largest food redistribution organisation in South Africa has received a US$100,000 donation from the GE Foundation, to provide immediate relief to South Africa’s communities experiencing food insecurity. The support was issued by GE Foundation as it marked the World Food Day, celebrated annually on 16 October, in line with its efforts to address the economic and social implications of the COVID-19 pandemic. The donation will enable Food Forward SA to provide more than 20,000 people with one meal per day for 12 months in…

Read More

Agribusiness financier MESPT offers backing to small scale farmers in Kenya with US$27m loan package

KENYA – Micro Enterprises Support Programme Trust (MESPT) has partnered with donors such as the Danish government and the European Union to support Kenyan farmers access funds for their agricultural activities. The organization will be extending Ksh3 billion loan to over 50,000 small scale farmers, aimed to strengthen food production and create more jobs in the agriculture sector, reports Business Daily. Ms Rebecca Amukhoye, MESPT Chief Executive Officer, said the institution is implementing a development model that seeks to enhance agriculture enterprise development and agricultural productivity and food safety by…

Read More

USAID supports Zambian agribusiness enterprises, Zimbabwe formulates animal health regulations in partnership with FAO

SOUTHERN AFRICA – Zambia has received an additional US$3.9m support from the United States Agency for International Development (USAID), to support small and medium sized agribusiness enterprises. In the two months since Zambia’s August 12 presidential election, USAID has programmed approximately US$30 million in new U.S. Government funding for the Zambian people. The additional funds will help grow small and medium enterprises, particularly those that are women-led, with a focus on strengthening job creation and revenue growth. Meanwhile, key stakeholders in the Zimbabwe livestock sector from both the public and…

Read More