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Browsing: Africa Fertilizer Financing Mechanism(AFFM)
- One in five people in Africa suffers from hunger.
- With the rising population, action is necessary to ensure access to healthy and sufficient food.
- AfCFTA can serve as a strong incentive for farmers and other participants in agri-food value chain.
Africa’s population is expected to hit two billion by 2050 yet her food security systems remain a fleeting mirage largely due to delayed financial commitments. Granted, in the past two decades, most African governments have placed great emphasis on transforming their food systems but it progress has been rather slow.
Financing of food systems
Currently one in five people in Africa suffers from hunger. And with a population of 1.1 billion people, it is imperative to take immediate action to ensure access to healthy and sufficient food by 2050. So how will Africa achieve this momentous goal? Experts say all the moving parts are in place, all except one, the …
- EU insists it has not put sanctions on food and fertilizers from Russia
- Malawi receives the first consignment of 20,000 tonnes of Russian fertilizers
- The EU, UN might consider releasing more fertilizers and food embargoed at European ports to Africa
The EU insists that food and fertilizer are not part of the sanctions it has imposed on Russia due to the ongoing conflict with Ukraine, yet the global supply of much-needed fertilizer is in short supply which begs the question; is Russia hoarding fertiliser supplies?
While the EU says it is not to blame, Russia says it is the Western sanctions that are causing the decrease in fertilizer exports. It only makes sense that Russia would hold back fertilizers to increase its own domestic food production in the face of future uncertainties in the still very volatile situation.
The sanctions on other sectors of Russia’s economy are spiralling to the …
The African Development Bank urged development finance institutions, NGOs, farmer cooperatives and the private sector to come up with more effective financing solutions for Africa’s fertilizer value chains.
The Bank’s call came during the Argus Africa Fertilizer Conference held last week. The theme of the conference was Supporting the fertilizer value chain to improve agricultural productivity and economic growth in the region.
“Appropriate investment and financing of the entire fertilizer value chain has become a precondition for achieving our continental objectives in the area of agricultural development,” said Marie-Claire Kalihangabo, coordinator of the Africa Fertilizer Financing Mechanism(AFFM), during a forum on the sidelines of the Conference.
AFFM is a Fund managed by the African Development Bank to accelerate agriculture development in line with the Bank’s High-5 priority, the Sustainable Development Goals, Africa Food Security Vision and the African Union’s Agenda 2063.