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Browsing: Agri-business investments in Africa
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.
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The Italian Development Cooperation contributed more than €4.55 million to two United Nations Industrial Development Organization (UNIDO) projects in Egypt and Iraq.
A signing ceremony to launch the projects took place at the UNIDO headquarters.
The Egypt project was developed after an in-depth analysis of the Egyptian tomato value chain. Egypt is the world’s fifth-largest producer of tomatoes producing about eight million tonnes of fresh tomatoes per year. Suitable climate, dual seasonality and fertile lands attributed to the success of the crop. However, only three to four per cent of the tomato crop is processed, with the processing sector affected by lack of integration with the supply chain.
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The project will boost the linkages between supply and processing factories, improve the technical skills of workers and managers in the factories, improve the quality of production and processing of tomatoes and expand …