Browsing: agribusiness funding

Increased investments in agri-business will see Agriculture Technology (Agri-Tech) in Africa record massive growth. The food security crisis has ravaged many African countries. Consequently, the situation has attracted investor interest. This has instigated a digital revolution promoting the Agri-tech start-up ecosystem. Agri-tech startups remain instrumental in developing the agribusiness sector. The sector wields enormous economic potential for the continent.…

The European Bank for Reconstruction and Development (EBRD) provided Egypt and the other four countries with $200 million in loans to strengthen agribusinesses.

According to a statement from Egypt’s Ministry of International Cooperation, the funding also aims at helping local farmers adopt climate-smart agriculture practices as well as strengthening farmers’ agribusinesses and improving their financial wellbeing through financing purchases of various agricultural commodities such as hazelnuts, dry dairy products, grain and onions in the selected countries of operation.

Also Read: East African Agribusiness SMEs to receive $1m

“As one of the only five economies across the Eastern Mediterranean, Eastern Europe and the Black Sea region to receive the loan, the EBRD will help transform Egypt’s agriculture value chain into “smart farming” through new methodologies that include climate-related risk management and stress testing” the Ministry noted in a statement.

This comes at a time when COVID-19 has multiplied the threats to …