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Browsing: Agribusiness in Ethiopia
Black gold runs the world and Uganda’s President Yoweri Museveni seems to have struck his long-coveted oil pipeline deal with Tanzania.
In the wake of his November state visit to Tanzania, the $3.5 billion deal is heading in the right direction.
However, this article is about another black gold, not crude oil, no, our topic of discourse is another prime foreign exchange earner for Uganda; the sweet aroma filled and much-coveted Robusta coffee, a $657 annual earner for Uganda.
Granted it’s but a fraction of what the oil deal will earn the country but coffee earnings represent much bigger financial inclusion for the Ugandan people than any oil deal ever will.
Here is why. Coffee farming directly employs over 1.7 million Ugandans who produce close to 6 million bags. Actually, Uganda produces 6% of global Robusta and 1% of the world’s Arabica coffee. Put together, coffee brings 18% of all …
The U.S. Agency for International Development (USAID) and Awash Bank announced a new partnership of $6.4 million to finance microfinance institutions and small- and medium-sized agricultural businesses in Ethiopia.
Under a USAID Development Credit Authority (DCA) agreement, the program will expand commercial bank lending into underserved areas in Ethiopia. It will also provide private finance needed to help farmers and businesses increase production, as well as support Ethiopia’s efforts to modernize the agricultural sector.
Through private capital sources, local microfinance institutions are able to expand lending to individuals and small businesses, mostly smallholder farmers and Productive Safety Net Program (PSNP) clients. This partnership will also support Awash Bank’s direct lending to SMEs in the agriculture sector, where access to credit remains low despite contributing 34 per cent of Ethiopia’s GDP and employing about 70 per cent of the total labour workforce.