twitter RSS Feed linkedin acp contact

AfDB promises funds for agribusiness in Africa

The African Development Bank (AfDB) is to invest US$100 million in its first agribusiness-focused 'Fund of Funds' programme

farm__eurleifAny AfDB investment in a new scheme, directed at national-level interventions, could be significant to the sector, say experts. (Image source: Eurleif/Flickr)

A statement from the AfDB said, “The fund will focus on agribusiness investments in the African continent. This initiative will address growing food security concerns and unleash the largely-untapped potential of the African agriculture and agribusiness.

"The launch of the initiative comes as African agriculture and food security gain increasing prominence on the global agenda, with the recent G8 Summit in Camp David pledging to promote investments in sustainable agriculture on the continent," it added.

Experts have said that the AfDB's latest investment, directed at national-level interventions, could be significant for the continent's agriculture sector.

AfDB president Donald Kaberuka said, “There was a broad consensus that it is the right thing to do to give a boost to agriculture.

“The Fund of Funds will be in compliance with a state-of-the-art environment and social management system, currently being developed by AfDB in cooperation with the World Wildlife Fund,” he added.


LATEST NEWS IN Agriculture

West Africa is all prepped up for desertification COP15

West Africa is all prepped up for desert…

West African representatives from the ministries of planning and finance, environment, and other stakeholders had gathered in Abidjan on 5-6 May 2022 for a capacity-building workshop on addressing land degradation...

FAO and the WFF set up Young Scientists Group

FAO and the WFF set up Young Scientists …

The Food and Agriculture Organization of the United Nations (FAO) and the World Food Forum (WFF) have launched the WFF’s first-ever cohort of the Young Scientists Group

Four agri-tech centres come together to boost innovation in global sustainable farming

Four agri-tech centres come together to …

Four UK agri-tech centres – CHAP, CIEL, Agri-EPI and Agrimetrics – have formed a sustainable farming partnership with world leading agricultural research and training organisation, Wageningen University & Research (WUR)...

Africa must prepare for a global food crisis, says AfDB president

Africa must prepare for a global food cr…

African Development Bank (AfDB) Group President Dr Akinwumi Adesina has said that Africa must prepare for the inevitability of a global food crisis

US and Mozambique governments come together to preserve forests and water

US and Mozambique governments come toget…

On Earth Day 2022, the US Government reaffirmed its support for conservation law enforcement and sustainable forest management in the Niassa Special Reserve (NSR), Mozambique’s largest protected area

TROPICSAFE achieves significant results in managing lethal diseases in palms, grapevine and citrus

TROPICSAFE achieves significant results …

The TROPICSAFE project, funded by the European Union’s Horizon 2020 research and innovation programme and coordinated by Professor Assunta Bertaccini, University of Bologna, Italy, studied three economically important insect-borne prokaryote-associated...

Prev Next

OTHER RELATED ARTICLES - Agriculture

OECD-FAO report: Agricultural output growth to keep food prices low over the coming decade

OECD-FAO report: Agricultural output gro…

Global demand for agricultural products is projected to grow by 15 per cent over the coming decade, while agricultural productivity growth is expected to increase slightly faster, according to an...

Manus Bio partners with STK Bio-Ag Technologies

Manus Bio partners with STK Bio-Ag Techn…

Manus Bio Inc and STK Bio-Ag Technologies (STK) have partnered to develop and commercialise plant-based active ingredients as highly-efficacious biopesticide products

Farming the cities, feeding an urban future

Farming the cities, feeding an urban fut…

Worldwatch's Nourishing the Planet team emphasises urban agriculture as a means of increasing food security, empowering women, and protecting the environment

Improving lentils production in Ethiopia

Improving lentils production in Ethiopia

Australian Centre for International Agricultural Research (ACIAR) has started a project to protect and improve lentil production in Ethiopia

Mozambique’s cashew production dips to 10-year low

Mozambique’s cashew production dips to 1…

Mozanbique's cashew production has dipped to a 10-year low this agricultural season after registering a peak in production last year

IFAD President pledges to bring 90mn out of poverty

IFAD President pledges to bring 90mn out…

Kanayo F Nwanze has said that long-term rural development is the most effective way to reduce poverty

Kenyan farmers receive more than US$2 million for Narok avocado project

Kenyan farmers receive more than US$2 mi…

Kenyan farmers in Mulot, part of the Narok district, are set to benefit from an avocado project expected to cost more than US$2mn

Tobacco-free farms launched in Kenya

Tobacco-free farms launched in Kenya

Hundreds of farmers in Migori County, Kenya will break free from risky tobacco farming and transition to producing more sustainable crops, through the Tobacco-Free Farms Project

Kenyan scientists discover cause of coffee berry pest

Kenyan scientists discover cause of coff…

Researchers at the Kenya-based International Center for Insect Physiology and Ecology (ICIPE), in collaboration with colleagues from Germany, have for the first time decoded the chemical signals that attract the...

Seed-X and TomaTech use AI to accelerate hybrid tomatoes breeding

Seed-X and TomaTech use AI to accelerate…

Innovative agtech company Seed-X and tomato seed breeding company TomaTech have announced a new pilot of GeNee Breeder, a seed phenotype analysis system that aims to provide a real-time classification...

International Year of Pulses closes with call to build upon strong momentum

International Year of Pulses closes with…

The International Year of Pulses, which was celebrated in 2016, has helped raise awareness globally of the benefits of eating and growing pulses, with calls to now build upon the...

Western Cape ministers brief media on farm killing

Western Cape ministers brief media on fa…

Following the killing of Famer Stefan Smit on the Louiesenhof Wine Estate at Stellenbosch, Western Cape ministers of agriculture and community safety and other government officials have met to brief...

Prev Next