The recent signing of a $200 million Soft Commodity Finance Facility agreement by the African Development Bank (AfDB) with the Export Trading Group (ETG) will have far-reaching benefits for something in the region of 600,000 African farmers in seventeen African countries.
The main aim of this important initiative is to assist local farmers and soft commodity manufacturers to produce enhanced quality goods with a view to improving export potential in that area. This intervention along the agricultural value chain in Africa is of great importance to ALPHA’s partners involved in this key sector, particularly in the export of products such as cashew nuts and other value-added commodities.
With this fund in place farmers will have greater access to inputs such as seeds and fertilisers, along with the capacity to develop greater levels of mechanisation and to achieve higher quality standards, while pointing the way to the consolidation of valuable international markets for agricultural output.
The new loan arrangement will also boost sustainability and encourage economic growth on many levels. Within Africa it will help significantly in improving regional integration through the development of sustainable platforms for the supply of local and regional markets, while also improving overallemployment prospects within the agriculture industry, especially for women and younger people.
ALPHA provides excellent advice and assistance to all companies interested in becoming part of the rapidly developing agricultural sector in Africa. ALPHA’s African Port Hub digital magazine also provides a gateway to the continent’s major logistics routes. All enquiries about advertising in this prestigious magazine are welcome. Contact info@alphaports.com.
