New $25m fund launched to grow African agriculture
CAPE TOWN - A mango project in Burkina Faso exporting to Europe will receive the first grant from a new $25-million agriculture fund launched on Thursday that is designed to connect small farmers to international markets.
With global food demand expected to grow by at least 7% by 2050, and with sub-Saharan Africa home to about 60% of the world's unused arable land, experts see African farmers as leading the next agricultural boom.
But one of the biggest problems many small-scale farmers faced across the continent was finding the financing that would help them buy seeds, improve yields and take their products to market.
The fund, capitalised by the USAid development agency and the Swedish government, tried to fill the gaps that prevent subsistence farmers from becoming commercial farmers. It would be managed by the African Development Bank (AfDB).
"The African economy is currently overly dependent on public investment for infrastructure development," said AfDB president Donald Kaberuka.
"The Agriculture Fast Track is a critical tool to better leverage donor funding to catalyse private sector investment in support of infrastructure construction and Africa's long-term economic growth and food security," Kaberuka said in a statement released at a World Economic Forum meeting in Cape Town.
The fund will provide grants ranging from between $100 000 and $1-million and aimed to double to $50-million over the next year.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
At Airshrink - CiP, we surpass customer expectations with innovative MV and LV cable accessories, including heat shrink joints, terminations,...
VISIT SHOWROOM
As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
