New Initiative to Support Farmers in Africa

Posted on December 15, 2015 · 2 min read

New Initiative to Support Farmers in Africa - Featured Image | MEA Markets
Share this article
Image

New Initiative to Support Farmers in Africa

AgDevCo Launches US$15.4 Million Initiative to Boost Smallholder Farmer Incomes in Africa

AgDevCo, in partnership with The MasterCard Foundation, today announced a US$15.4 million initiative to boost the incomes of smallholder farmers in seven African countries (Ghana, Malawi, Mozambique, Senegal, Tanzania, Uganda and Zambia).

AgDevCo, a specialist agriculture impact investor, has established a Smallholder Development Unit (SDU) to work with the farmers to increase their productivity and strengthen their ties with local agribusinesses.

Activities will include providing training and better quality inputs to farmers, implementing mobile technology solutions, and brokering long-term purchase contracts. The SDU aims to develop 25 “outgrower schemes” over five years, directly benefitting up to half a million farmers, half of them women under the age of 35 years.

Sandi Roberts, the newly appointed head of AgDevCo’s SDU, said, “Boosting farmer productivity is not enough. Farmers need long-term relationships with trusted buyers who pay fair prices. The SDU can help farmers who need reliable markets and local agribusinesses who need quality raw materials.”

Ann Miles, Director of Financial Inclusion and Youth Livelihoods at The MasterCard Foundation, said, “We are excited about the potential of this work with AgDevCo to drive the adoption of new technologies – such as mobile phones, cashless payments and micro-insurance products – by a younger generation of African farmers. We want to help to shift the perception of agriculture so that young people see it as a viable livelihood in which they can imagine a beneficial and sustainable future.”

Many smallholder farmer projects help improve yields but do not establish reliable links to markets. The SDU can take advantage of the fact that AgDevCo – and its sister working capital facility Lending for African Farming LAFCo – already invest in storage, trading and processing businesses which source crops such as maize, sunflower, groundnuts, chillies and avocadoes.

The SDU aims to make an important contribution to AgDevCo’s mission of investing in agricultural enterprises in Africa to create jobs, improve food security and increase rural prosperity.

The AgDevCo partnership adds to The MasterCard Foundation’s growing portfolio of work supporting smallholder farmers in Africa. To date, the Foundation has committed more than US$175 million to agricultural finance projects which will improve lives of an estimated 3.5 million people living in poverty.

You might also like

Looking for more? Gain deeper insights with these recommended articles, selected to provide further value.

January 27, 2023 Private Sector Urged to “Own and Drive” Africa’s Continental Trade Agreement

The private sector is recognized as an indispensable stakeholder in the African Continental Free Trade Agreement (AfCFTA), especially given its ability to catalyze sustainable economic development and job creation.

October 24, 2016 Leaders in the Steel & Construction Industry

Established in 1987, Hydra Arc started from humble beginnings, now a leading South African welding contractor, specialising in the manufacturing, maintenance and refurbishment of pressure vessels, piping fabrication, steel construction, refinery a...

May 9, 2024 Dubai Health Authority Collaborates with Knight Frank MEA’s Healthcare Division

Knight Frank MEA’s Healthcare division is proud to announce its collaboration with the Dubai Health Authority (DHA) in releasing the latest edition the Dubai Health Investment Guide 2024.

Join our newsletter.

Gain Access To Exclusive Content

Stay Updated With The Latest News

It's Free To Subscribe

By signing up, you agree to receive marketing emails.

Join our newsletter box - side image
Trusted by the best teams around the world