Posted on September, 14, 2022 at 06:49 am
This fund would be used to improve seed systems, government engagement, agricultural supply chains, and combat climate change. The overall goal of procuring this huge fund is to reduce dependency on imported food, and of course, reduce the inflation of food prices in Africa.
The $550 million fund set out by AGRA is intended to help local and small-scale farmers across the continent, mitigate agricultural challenges. These farmers have neither the means nor the resources to combat some of the more complex issues that well-funded farmers can. They are in a vulnerable position where even the slightest nudge could affect their output.
There is a need to empower and encourage smallholder farmers across Africa, not just in combating primary farming issues but also to equip them against natural disasters and climate issues.
Agra chairman and a former Prime Minister of Ethiopia; Hailemariam Desalegn said; “Hard-won gains are now under threat from external shocks, particularly the impact of climate change. The multi-season droughts in East Africa and extreme weather events like cyclones in Southern Africa have already changed everything.”
“Covid-19 put supply chains under intolerable pressure. The commodity price crisis, exacerbated by the Russia Ukraine crisis, undermines food security and agriculture everywhere. We want farmers to be able to gain and retain access to the right seed, at the right price and at the right time.” he added.
Research by AGRA showed that despite Africa having some of the most arable lands in the world, the continent still has the lowest agricultural productivity, and one in five people on the continent is hungry. 40% of Africa’s land is arable but this resource is not being maximized. AGRA noted that it is committed to changing that narrative.
Source: Business Insider