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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Amethis acquires majority stake in Moroccan distributor of irrigation systems Magriser Group

MOROCCO – Africa-focused private equity firm Amethis has expanded its portfolio with an investment in Magriser, a pioneer in the distribution and installation of turnkey micro-irrigation and solar pumping systems in Morocco. Under the deal, Amethis has acquired a majority stake through its Amethis MENA Fund II, dedicated to the SMEs in the region. The investment is aimed to enable Magriser to transition in a new development phase which will entail launching its own production unit for micro-irrigation pipes by the end of 2021 and ambitions to expand its activities to…

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Ethiopia launches construction works on the US$126.9m Ajima-Chacha dam

ETHIOPIA – The government of Ethiopia Ethiopian has launched the construction of the Ajima-Chacha irrigation dam in the Amhara region in the north of the country. The US$126.9 million project has been awarded to the Chinese Civil Engineering Corporation (CCEC) in partnership with Amhara Water Works Construction Enterprise. The Ethiopian Minister of Water, Irrigation and Energy, Seleshi Bekele, recently visited the Amhara region to lay the foundation stone for the construction of the Ajima-Chacha Irrigation Dam on the Jimma River. Over the next three years, the two companies will commission…

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The OPEC Fund boosts sustainable agriculture in Malawi with US$20m development loan

MALAWI – The OPEC Fund for International Development (the OPEC Fund) has signed a US$20 million development loan agreement with Malawi to improve the livelihoods of around 1.3 million people living in rural areas. The financing will support the ‘Transforming Agriculture through Diversification and Entrepreneurship’ program, aligning with Sustainable Development Goal 2 on food security, improved nutrition, and sustainable agriculture. The objective of the program is to strengthen value chains and improve the resilience and capacity of Malawi’s smallholder farmers and rural organizations. The program will provide better infrastructure ,including…

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AfDB grants Burundi US$20m for climate resilience of farmers

BURUNDI – The African Development Bank (AfDB) has granted US$20.55 million to support farmers affected by climate change phenomenon. The project to support the sustainable development of agriculture and livestock value chains in Burundi (PADCAE-B) is expected to start soon after the initiative received funding of USD 20.55 million from the African Development Bank (AfDB). Part of the financing, US$12.83 million, comes from the African Development Fund (ADF), the concessional window of the AfDB while the rest of the package, US$7.72 million, comes from Pillar 1 of the Transition Support…

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Ghana fosters value addition of plantain with US$200K processing

GHANA – The government of Ghana has approved the disbursement of US$200,000 for the establishment a plantain processing plant in Ashanti region, South of Ghana. The facility to be built under the government’s One District, One Factory (1D1F) initiative will process plantain into flour and other by-products for local consumption and export. Through this it will provide a ready market for plantain farmers, in turn reducing reduce post-harvest losses which had been a major challenge in the area, reports Ghana News Agency. Ghana is a major producer of plantain and currently exports…

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Cameroon, IFAD join hands to boost food security, support small-scale farmers

CAMEROON – The International Fund for Agricultural Development of the United Nations (IFAD) has announced a $59.9 million investment to fund a six-year extension of the successful Commodity Value Chain Development Support Project (PADFA) in Cameroon. Gilbert F. Houngbo, IFAD President, and Alamine Ousmane Mey, Minister of Economy, Planning and Regional Development of the Republic of Cameroon met virtually to sign the financing agreement for the second phase of the Commodity Value Chain Development Support Project (PADFA II). Cameroon has great potential to meet its food demand and improve the…

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Rwanda clinches US$28m financing from Japan to enhance nutrition improvement efforts

RWANDA – The government of Rwanda has received the second tranche of the 10 billion-yen (US$94m) Sector Policy Loan for Nutrition Improvement through Agricultural Transformation, from Japan International Cooperation Agency (JICA) to assist Rwanda’s effort to tackle malnutrition. The second tranche aggregating to 30% of the total loan i.e. equivalent to US$ 28million has been disbursed as a result of achievements of the set policy actions by the Government of Rwanda in its continuous efforts to improve nutrition through agriculture transformation, reports Rwanda News Agency. Since 2012, official statistics show Rwanda has…

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