Accra AGRF secures US$728.6 million for African agricultural transformation

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The just-ended Africa Green Revolution Forum (AGRF), held in Accra, Ghana has secured investment pledges totaling, 728.6 million US dollars for various agricultural activities across Africa, a report received here on Saturday said.

Accra AGRF secures US$728.6 million for African agricultural transformation
Accra AGRF secures US$728.6 million for African agricultural transformation

The report issued after the close of the forum late Friday said if they were delivered, these investments would develop agriculture opportunities for young Africans, as well as develop and strengthen several value chains in some African countries.

The AGRF which opened here on Tuesday was under the theme, “Grow Digital: Leveraging digital transformation to drive sustainable food systems in Africa.”

Among the commitments secured was the one from Mastercard Foundation to invest 500 million dollars for a new Young Africa Works program.

The initiative will provide the needed capital to support the efforts of a new generation of young “agripreneurs” (Agriculture entrepreneurs) investing their talents in farming and other agriculture-oriented ventures.

“This generation is not just heeding the call: they are leading the charge and changing the narrative of the 21st-century African farmer,” Reeta Roy, the president of the foundation said.

Accra AGRF secures US$728.6 million for African agricultural transformation
Accra AGRF secures US$728.6 million for African agricultural transformation

She described the vision of youth as seeing farming more as business-oriented, and more tech-enabled.

READ MORE: U.S.-Africa Trade & Investment Global Summit (USATIGS-2019): Meet Mr. Godwin Oyefeso

In addition to that, several businesses, including Dangote Farms Ltd. of Nigeria, Press Agriculture Ltd of Malawi, Pearl Dairies Ltd. of Uganda, and Fresh Ltd. of Mozambique and Eswatini also pledged 200 million dollars in new investments.

These investments aimed to “develop and strengthen several value chains in Malawi, Mozambique, Nigeria, Uganda, and Eswatini.”

The Unilever-IDH partnership also pledged to invest 28.6 million dollars in small and medium-sized enterprises (SMEs) working in a variety of food-related enterprises. Enditem.

Source: Newsghana.com.gh


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