Twiga Foods secures US$5m financing from American development bank

KENYA – Twiga Foods, a Kenyan online food distribution platform has received a US$5 million loan from the United States International Development Finance Corporation (DFC) to improve food security in Kenya. The investment from DFC […]

AfDB approves US$1.5m emergency grant to curb desert locusts in Eastern Africa

EASTERN AFRICA – The Board of Directors of the African Development Bank have approved a US$1.5 million emergency relief grant to assist nine countries in the East and Horn of Africa on the control of […]

Liberian government provides funds to enhance local rice production, processing

LIBERIA – Liberia’s Minister of Finance and Development Planning (MFDP), Samuel D. Tweah Jr., and Agriculture Minister, Madam Jeanine Cooper have signed a Cash Collateral Guarantee agreement with the Afriland Bank to enhance rice production […]

Cameroonian commercial bank BC-PME opens agricultural funding window

CAMEROON – Cameroonian commercial bank for small and mid-size companies, Banque camerounaise des petites et moyennes entreprises (BC-PME) recently opened an agricultural financing window. The window was opened following an agreement signed with Agence des PME, […]

South African government offers buffer to the agriculture industry with US$68.4m financing

SOUTH AFRICA – The department of agriculture of South Africa has set aside a package of R1.2bn (US$68.4m) to address effects of the coronavirus and ensure sustainable food production after the pandemic. Speaking during a […]

Cameroon seeks IDB’s US$106.9m financing to boost soybean and cotton seed processing

CAMEROON – The government of Cameroon is seeking XAF64.3 (US$106.9m) financing from The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank Group (IDB) for acquisition of soybean and cotton seed for […]

National Bank of Ethiopia mandates allocation of agricultural loans

ETHIOPIA – National Bank of Ethiopia has issued a directive to banks to allocate five percent of their annual loans to cooperatives, unions and small and micro enterprises in the agricultural sector beginning July 1, […]

DAL Group secures US$75m to improve food security in Sudan

SUDAN – The African Development Bank (AfDB) has signed an agreement with DAL Group, Sudan’s largest foods and agriculture business company, for the provision of up to US$75 million to improve the agribusiness sector, as […]

Kenya sets strategies to boost the agriculture sector with US$428.4m investment

KENYA – The government of Kenya is set to boost the country’s agriculture sector by injecting Sh440 billion (US$428.4m) over the next five years under the Agricultural Sector Transformation and Growth Strategy (ASTGS) 2019-2029. This […]