Innovation accelerator Impact Lab launch Agritech Launchpad for innovative entrepreneurship

MOROCCO – Impact Lab, an African innovation accelerator, officially launched Launchpad Agritech, an acceleration program dedicated to the promotion of innovative entrepreneurship in the Moroccan agro-industry. With this initiative, Impact Lab aims to accelerate the marketing of Moroccan Agritech startups, but also to encourage the future generation of Moroccan Agritech entrepreneurs. “We are convinced that Morocco has the potential to position itself as a major innovation hub in the agro-industrial sector in Africa. However, the ecosystem of Agritech startups in Morocco is still weak, and innovation opportunities in the sector…

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AGRA partners Aceli to enhance capital flows for SMEs in agriculture sector

AFRICA – Alliance for a Green Revolution in Africa (AGRA), has announced a partnership with Aceli Africa, a market incentive facility, to enhance capital flows for SMEs in the agriculture sector and support a financially inclusive agricultural transformation across Africa. AGRA and Aceli have signed a letter of intent committing to jointly work together to test and scale up innovations that substantially drive down the cost and risk of financing SMEs in the agriculture space. “AGRA firmly believes that it is vital to unlock the potential of SMEs for agricultural…

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FAO and Arab Bank for Economic Development in Africa sign MoU to advance African agriculture

AFRICA – The United Nations Food and Agricultural Organization (FAO) and the Arab Bank for Economic Development in Africa (BADEA) have signed a memorandum of understanding for future collaboration to promote agricultural infrastructure development and skills training for women and youth. The agreement would also advance climate-smart agriculture in Africa. FAO Director-General Dr. Qu Dongyu and BADEA Director-General Sidi Ould Tah signed the agreement on 29 April in a virtual ceremony during a high-level dialogue organized by the African Development Bank and the International Fund for Agricultural Development, in partnership…

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Kenya’s horticulture sector gets US$6m boost from EU

KENYA – The European Union (EU) has granted Kenya €5 million (US$6 million) to support Kenya’s horticultural sector achieve sanitary and phytosanitary standards (SPS) as required by the export markets. Under a four-year plan dubbed New Export Trade (NExT), EU aims at increasing the contribution of the horticultural sector to household income.  Deputy Head of Delegation, EU to Kenya, Katrin Hagemann, said this will be achieved through the generation of employment opportunities and foreign currency. She said to improve food security safety and nutrition there is need to increase the…

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Kenya’s Family Bank partner USAID to disburse US$4.7m to agribusinesses

KENYA – Financial institution Family Bank and the United States Agency for International Development(USAID), have partnered disburse US$4.7 million to agri-businesses in seventeen counties in Kenya in the next one year. The partnership deal between the lender and the United States Agency for International Development (USAID) seeks to unlock US$374 million to Small and Medium Enterprises (SMEs) in Kenya and East Africa. The partnership will see Family Bank finance agri-businesses in the selected 17 Counties in the East Africa nation. Through an initiative dubbed ‘Pay for Results’, the bank targets…

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Italian Trade Agency launches first E-Lab Innova in Nigeria

NIGERIA – The Italian Trade Agency, a governmental agency that supports the business development, partnerships and collaborations between Italian companies and their local counterparts, has launched the first E-Lab Innova in Nigeria. The E-Lab Innova is an educational training program for the agri-food sector in Nigeria which will be implemented in collaboration with the Nigerian Export Promotion Commision (NEPC) alongside other Italian partners, such as MACFRUT, a leading exhibition for the agribusiness industry. “Nigeria remains a strategic point for engagement between the agency and other countries across West Africa,” the…

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Co-op Bank and eco.business Fund join forces to boost agribusiness in Kenya

KENYA – Co-operative Bank of Kenya, a tier one lender in Kenya, has secured US$10 million loan from eco.business Fund, a Luxembourg-based impact investment fund for on-lending to agribusinesses. The Nairobi Securities Exchange listed lender said it had received the subordinated loan from eco business Fund and will extend the same to sustainable agribusinesses, such as those in the coffee and tea. The facility marks the first investment in Kenya for eco-business Fund, a specialist in promoting use of natural resources, and mitigating and adapting to climate change. Co-op Bank chief executive…

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Agri-tech startup Farmhut wins US$100,000 grant funding from Hult Prize

ZIMBABWE – Zimbabwean agri-tech startup Farmhut, has secured US$100,000 in grant funding after being selected as one of the winners of the annual Hult Prize competition. Farmhut is an AI-powered marketplace connecting farmers to markets that pay fair prices for  their produce and enables farmers to grow their business fast throughout the year, and ensures  consumers get fresh, local, and sustainably-grown food from small producers in their local area.  The company has been selected as one of 11 winners of this year’s Hult Prize, an annual, year-long competition that crowd-sources ideas from…

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Heifer International and Rwandan government announce US$10m investment in livestock farmers

RWANDA –  International development organization, Heifer International and the Rwanda Ministry of Agriculture have announced a partnership to invest more than US$10 million in livestock and training for 23,400 smallholder farming households geared towards improving incomes and food and nutrition security in Rwanda’s most impacted regions. In Rwanda, one fifth of the population is food insecure, and the average income per household is approximately US$3.11 per day in the 15 districts in Rwanda’s Northern, Southern, Western provinces where PRISM will be implemented. Through the partnership, Heifer International aims to support…

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Digital farming platform Complete Farmer raises funding, launches new offering

GHANA – Complete Farmer, an end-to-end digital farming platform, has raised an undisclosed amount of funding from Ingressive Capital as it plans to expand into other markets. Desmond Koney, chief executive officer (CEO) of Complete Farmer, said he was excited about the next chapter and the startup’s partnership with Ingressive Capital. “Together, we believe we are going to transform agriculture using technology and innovations to realise Africa’s potential to feed the world. With the network within the Ingressive capital family and the synergies with the existing portfolio companies, this partnership…

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