Ghana to launch Cassava Processing Factory under 1D1F initiative

Ghana to launch Cassava Processing Factory

GHANA – Ghana is moving ahead with its 1 District 1 Factory initiative that targets to have at least one factory in every district and has announced plans to launch a cassava processing factory in Keta District before the end of September. While delivering the development, The Municipal Chief Executive (MCE) of Keta, Mr Godwin Edudzi Yao Effah, said government was committed to deliver the project within the stipulated timelines. He further revealed that Ghana was committed to partner the investors, Hormeku Engineers and Planners (HoPE) Limited, to ensure the…

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Tunisian Date Exporter VACPA secures US$12M from IFC to cushion business against COVID19 effects

TUNISIA—Tunisian Date Exporter, VACPA has secured financing amounting to US$12.41 million from the IFC as part of efforts to cushion its business from the adverse effects of the COVID19 pandemic. IFC, a member of the World Bank Group, in a press statement noted that the financing to VACPA was part of an effort to preserve jobs, especially for women, amid the COVID-19 pandemic. VACPA according to the IFC is Tunisia’s largest exporter of dates, buys its fruit from close to 1,000 farmers and employs more than 1,700 workers, 80 percent…

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Ghana to domestically process 50% of cocoa produce, to use US$600m AfDB facility in enhancing processing capacity

GHANA – Ghana, the second largest producer of cocoa in the world, has reiterated its commitment towards locally processing half of the cocoa that it produces. The Chief Executive of Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo echoed the government’s stand after holding a closed-door meeting with Executive Directors of AfDB at the COCOBOD headquarters, in Accra. According to the Public Affairs Manager of Cocobod, Mr. Fiifi Boafo, the meeting was a precursor to the final processes for the disbursement of the US$600m AfDB credit facility to finance crucial projects…

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AfDB to pump US$300m in the development of agro-processing zones in Nigeria

NIGERIA – The African Development Bank is planning to support the implementation of the Special Agro-Industrial Processing Zones project in Nigeria with US$300m. Senior Special Adviser on Industrialisation to AfDB President, Prof. Oyebanji Oyelaran-Oyeyinka, revealed AfDB’s plans at an SAPZ Inception Workshop in Abuja on Monday. The SAPZs are designed to concentrate agro-processing activities within areas of high agricultural potential. The zones, which are also expected to create jobs, boost food security and reduce food imports, will enable agricultural producers, processors and distributors to operate in one vicinity. Oyelaran-Oyeyinka, in…

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Morocco agri-food export volumes reach 3.1m tonnes for the first time in history

MOROCCO –  Exports of agri-food products reached around 3.1 million tons during the 2018-2019 campaign in terms of volume, the Moroccan Ministry of Agriculture has revealed. The ministry revealed this in a press statement adding that this was the first time that Morocco reached this volume in its history. Exports of agro-food products recorded a growth of 97% with share of about 21% compared the total exports of Morocco during the 2010-2018, The Ministry of Agriculture said. According to the statement, revenues from the export of the national agri-food products…

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Ghanaian Women Cooperative gets new USAID funded Shea Processing Facility

GHANA –  The United States Ambassador to Ghana, H.E Madam Stephanie Sullivan has presided over the opening of a new shea butter processing and warehousing facility at Sorogu in the Sagnarigu Municipality of the Northern Region. The new facility, meant for Tiyumtaba Women’s Shea Cooperative, will provide the needed infrastructure to add value to the commodity in the area and will improve the incomes of 600 women, who collect and process shea nuts in the area. The United States Agency for International Development (USAID) developed the facility in partnership with…

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Gambia, Senegal, Guinea-Bissau to benefit from USDA funded Cashew Value Chain Project

WEST AFRICA – The United States Department of Agriculture’s (USDA) Food For Progress (FFPr) Regional Cashew Value Chain Project is implementing a US$38 million, six-year project in The Gambia, Senegal, and Guinea-Bissau. USDA says that the project will enhance the regional cashew value chain to improve the trade of processed cashews in local and international markets.  Facilitating the processing of cashew nuts within the region will create new jobs and increase incomes. During the launch, the United States was represented by both the U.S. Ambassador to The Gambia, Richard Carlton…

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Liberia, World Bank Sign US$3.7m agreement to boost fisheries sector

LIBERIA – The Government of Liberia and the World Bank have signed a US$3.7 million Project Preparatory Advance (PPA) document intended to set the pace for a bigger International Development Association’s US$40 million to support the fisheries sector. The new project which will be implemented in Montserrado and four other sites to be selected in four coastal counties will involve investments in improving the management of selected fisheries, improving the handling of fish and fish products and support for aquaculture. The World Bank Country Manager also outlined that the US$3.7…

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Leading phosphate company In Morocco set to launch operations in Romania

MOROCCO – OCP Group, one of the leading exporters of phosphate rock, phosphoric acid and phosphate fertilizers in the world has received approval from the Government of Morocco to launch operations in Romania, in cooperation with Emirati agricultural company Al Dahra. The approval to invest in Romania was given to OCP (formerly The Office chérifien des phosphates) by Morocco’s Head of Government, Saad Eddine El Othmani, with the countersignature of the Minister of Finance, Mohamed Benchaaboun. OCP operations are set to be executed by a newly-founded company to be called…

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Burkina Faso secures US$20m loan from OPEC to enhance food security

BURKINA FASO – The government of Burkina Faso through the Ministry of Economy, Finance and Development has secured a loan of US$20 million from the Organization of the Petroleum Exporting Countries (OPEC) Fund to support agribusiness activities in the country. The loan was signed by the Director-General of the OPEC Fund for International Development (the OPEC Fund) Dr Abdulhamid Alkhalifa and Burkina Faso’s Minister of Economy, Finance and Development, Lassané Kabore. In a statment, OFID revealed that the funds will be specifically used to help finance Burkina Faso’s Agricultural Value…

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