World Bank to fund US$30B projects in Nigeria, other countries

NIGERIA – The World Bank is set to disburse a total of US$30 billion to fund existing and new projects in Nigeria and other countries as part of a global response to combat the ongoing food security crisis. The international financial institution, in a statement on the funding plan, noted that the financing will include US$12 billion funding for new…

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OPEC Fund signs US$30m loan to boost productivity for smallholder farmers in Uganda

UGANDA – The OPEC Fund for International Development has signed a US$30 million loan facility agreement with Uganda to help improve food security and incomes for more than 120,000 smallholder households in the northern and north-eastern regions engaged in the production and marketing of oilseeds (groundnuts, sunflower, sesame and soy).   The National Oil Seeds Project is co-financed by the…

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Smart irrigation company SupPlant raises US$10m to grow its South African market

SOUTH AFRICA – Precision agriculture company SupPlant has raised US$10 million to widen the reach of its smart irrigation technology in the South African market. The company partnered with private equity firm Boresight Capital, social impact fund Menomadin Foundation, Israel-listed Smart-Agro Fund and Israel-based investment company Mivtah Shamir on the company’s latest fundraising round, bringing its total funding to US$19…

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Agri-tech startup Farmhut wins US$100,000 grant funding from Hult Prize

ZIMBABWE – Zimbabwean agri-tech startup Farmhut, has secured US$100,000 in grant funding after being selected as one of the winners of the annual Hult Prize competition. Farmhut is an AI-powered marketplace connecting farmers to markets that pay fair prices for  their produce and enables farmers to grow their business fast throughout the year, and ensures  consumers get fresh, local, and sustainably-grown…

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Heifer International and Rwandan government announce US$10m investment in livestock farmers

RWANDA –  International development organization, Heifer International and the Rwanda Ministry of Agriculture have announced a partnership to invest more than US$10 million in livestock and training for 23,400 smallholder farming households geared towards improving incomes and food and nutrition security in Rwanda’s most impacted regions. In Rwanda, one fifth of the population is food insecure, and the average income…

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OPEC Fund gives Burundi US$20m loan to strengthen food security

BURUNDI – The OPEC Fund for International Development (OFID) has signed a US$20 million public sector loan agreement with Burundi to co-finance a project that will improve food security, expand access to marketplaces and social services, and strengthen the resilience of agricultural production systems. More than 700,000 people in the central plateau region in Burundi are expected to benefit. Burundi…

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AfDB, FAO and South Sudan ink protocols for US$14m grant to boost agricultural markets

SOUTH SUDAN – The African Development Bank (AfDB) has signed protocols to disburse a US$14 million grant to the Government of South Sudan to boost agricultural markets in a project to be implemented by the UN’s Food and Agriculture Organization (FAO). The Agricultural Markets, Value Addition and Trade Development (AMVAT) project aims to enhance agricultural productivity and boost the marketing…

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Zambia’s Good Nature Agro secures $2.1 million funding to scale up production

ZAMBIA – Good Nature Agro, a Zambian company working from end-to-end within the specialised legume value chains has closed Series A equity funding totalling $2.1 million. Goodwell Investments led the round with participation from existing seed investors Global Partnerships and FINCA Ventures. This investor capital will accelerate Good Nature Agro’s ability to build up essential value-add processing infrastructure in Central…

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African Risk Capacity Ltd and insuretech Pula sign partnership to deliver agriculture index insurance

KENYA – The African Risk Capacity Limited (ARC Ltd) has announced a partnership agreement with Kenya’s insurance intermediary Pula to deliver best-in-class agriculture index insurance products to protect African farmers from climatic risks. Every farming season, African farmers are exposed to a wide range of climate risks including drought, excessive rainfall, pests and diseases, among several other perils that negatively…

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World Bank grants $80 million to Ethiopia for agriculture

ETHIOPIA – The World Bank and the Government of Ethiopia have signed an agreement that will see the Eastern African country receive $80 million grant. The deal was signed between the Ministry of Finance of Ethiopia and the World Bank on September 23, 2020 and is aimed at supporting the completion of projects started during the second phase of Agricultural…

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