Tag: CAAPs
Afreximbank, AfCFTA, WFP sign $2bn MoU to boost agriculture
Favour Okpale Abuja, Nigeria – November 5, 2024: In a move to strengthen Africa’s agricultural sector, Afreximbank, the African Continental Free Trade Area (AfCFTA) Secretariat, and the World Food Programme (WFP) have signed a three-year Memorandum of Understanding (MoU) to support African farmers, agro-processors, and commodity traders with a minimum of $2 billion in financing by 2025. Benedict Oramah, president/chairman
ECOWAS, ActionAid, others partner on sustainable food sovereignty in W/Africa
Abuja, Nigeria, October 22, 2024 | by Abbas Jimoh The Economic Community of West African States (ECOWAS), Alliance for Agroecology in West Africa (3AO), West Africa Organic Network (WAfrONet) and ActionAid Nigeria (AAN) have reached an agreement to develop a sustainable security system for food sovereignty in West Africa. The organisations at a Stakeholders ‘Forum on Agroecology and Organic Agriculture in
African Development Bank and partners agree to fast-track implementation of Special Agro Industrial Processing Zones program
Abuja, Nigeria October 10 2024 Nigerian ministers gathered in Abuja with state representatives and other stakeholders to push for accelerated delivery of the SAPZ program in Nigeria. October 2024 The African Development Bank Group has reached an agreement with participating Nigerian state governments to speed up implementation of a program designed to develop eight new agro-industrial zones in the country.
Afreximbank approves US$20.8 million for Starlink Global’s cashew factory project in Lagos
Cairo, Egypt – October 4 2024 African Export-Import Bank (Afreximbank) has approved a US$20.8 million financing facility for Nigeria-based Starlink Global & Ideal Limited to enable the company construct and operate a 30,000-metric tonne per annum cashew processing factory in Lagos. According to the facility agreement signed in on July 22, 2024, Afreximbank will provide the funds in two tranches
AGRA Calls for Increased Investment in Agro-Industrialisation to spur economic growth
Kampala, Uganda The need for Uganda to increase investments in agro-based industries to spur economic growth came into sharp focus at the Regional Industrialization Conference held from 24th to 25th September in Kampala, Uganda. In a keynote address at the conference, the AGRA Uganda Country Director, Mr. David Wozemba, highlighted the important role of agro-industrialization in promoting economic development in
AU Commissioner Josefa Sacko honoured in the Kingdom of Morocco
Fez, Morocco 11/10/24 African Union Commissioner, Ambassador Josefa Correia Sacko was honoured in Fez, Morocco by the Moroccan Association Baouabate for her exceptional commitment to sustainable development and climate resilience on the continent. The African diplomat was honoured on the Moroccan National Women’s Day. She stressed that this recognition is an important stage in her professional career and is testimony
Africa can cut food imports through Common Agro-Parks Programme -CAAPs
By Edward Acquah Accra, Oct. 3, GNA- The implementers of the Common African Agro-Parks (CAAPs) programme, aimed at reducing food imports and fostering innovation in Africa, have called for increased partnerships and investments to enhance agricultural transformation on the continent. The CAAPs initiative, part of the African Union’s Agenda 2063, aims to help Africa reclaim the approximately $50 billion in
Côte d’Ivoire secures USD 28M investment to boost cashew processing industry
Abidjan, Côte d’Ivoire Côte d’Ivoire secures USD 28.7M investment to boost cashew processing industry from three foreign companies, marking a significant step toward boosting local processing capabilities. The investment deals were finalized during the Cashew Sector Investment Forum, held by the CCA on September 23 in Abidjan. TORQ Commodities, a UK-based commodity trader, committed USD 10 million to the project.
FAO reaffirms support for Africa’s Post-Malabo Agenda
Syracuse, Italy. The Food and Agriculture Organization of the United Nations (FAO) on Thursday reaffirmed its commitment to supporting Africa beyond 2025. The Director-General was invited to participate in a G7 panel session with agriculture ministers in Syracuse, Italy, on how best to support Africa’s post-Malabo agenda. Agreed by African heads of state and government at the 2014 African Union
African Development Bank grants $129 million loan to agricultural project generating decent jobs for young people
Abidjan Côte d’Ivoire. The Board of Directors of the African Development Bank Group on 20 September 2024 approved a $129.71 million loan to Tanzania for the implementation of a youth-focused agribusiness program. The loan will fund the first phase of the “Building a Better Tomorrow: Youth Initiatives for Agribusiness” program, which aims to create business opportunities and jobs for young
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