Burkina Faso approves commercial use of first pear millet hybrid

BURKINA FASO – The National Seed Committee of Burkina Faso, has announced the registration of the country’s first pearl millet hybrid in the National Seed Catalog. Commonly known as Nafagnon, the grain is the first single-cross hybrid to be approved in West and Central Africa, and was developed by the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT), a not-for-profit international agricultural research organization in Niger. Also identified as, ICRISAT Millet Hybrid (ICMH) 147007, the millet variety was evaluated in Burkina Faso by the Institut de l’Environnement et de…

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ABC Fund supports three agribusiness ventures in West Africa with working capital

WEST AFRICA – The Agri-Business Capital Fund (ABC Fund), managed by Bamboo Capital Partners, Injaro and Agriterra, has provided loans to three agri-businesses in West Africa, to support their working capital needs and expansion strategies. The backing from the blended-finance impact fund, will also enable the farmers to secure market access in their respective sectors and foster higher rural employment opportunities. The ABC Fund has provided a loan of EUR450,000 (US$546,421) to Kaworo based in Burkina Faso, a producer of grains (mainly maize, millet, sesame, cowpeas and sorghum) and seeds,…

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IFAD, RBAs, FAO, WFP join forces to revitalize economic activities in the SAHEL region

SAHEL – The International Fund for Agricultural Development (IFAD) is joining with the other Rome-based UN agencies (RBAs), the Food and Agriculture Organization of the United Nations (FAO) and the World Food Programme (WFP), as well as the G5 Sahel and the Green Climate Fund to revitalize economic activities and food systems in the group of Five Sahel countries (Burkina Faso, Chad, Mali, Mauritania and Niger) and in the Republic of Senegal. These efforts will strengthen the resilience of rural communities impacted by conflict, climate change and the current Covid-19…

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Agro-allied industries in West Africa clinch US$1.4m financing from Bamboo managed ABC Fund

WEST AFRICA – The Agri-Business Capital Fund (ABC Fund), a blended-finance impact fund has issued loan financing worth £1.2 million (US$1.4m) to two West African companies i.e. Anatrans, a cashew nut processor based in Burkina Faso and Maphlix Trust Ghana Limited, a producer and processor of tubers and vegetables. The investment is aimed to enable the companies weather the COVID-19 pandemic which has put unprecedented pressure on small- and medium-sized enterprises (SMEs) around the globe. According to the fund manager, Bamboo Capital Partners, these investments will enable smallholder farmers to…

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Burkina Faso gets US$20m facility to support agricultural value chains

BURKINA FASO – The government of Burkina Faso has penned a US$20m development loan from the OPEC Fund for International Development to help finance the country’s Agricultural Value Chain Support Project (PAPFA). The total cost of the project is US$71.7 million, with an added financing of US$19 million loan and a US$19 million grant under the debt sustainability framework from IFAD. PAPFA will be additionally co-financed by the Government of Burkina Faso (US$6.4 million) and the beneficiaries themselves (US$7.3 million). PAPFA aims to contribute to poverty alleviation and to enhance…

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