International Courant
The brand new platform will construct and assist sustainable meals manufacturing and distribution methods in Africa, contributing to abilities improvement, job creation, and meals safety.
By offering entry to finance and abilities coaching, the platform goals to strengthen 30 agricultural worth chains throughout Africa by 60 agri-finance operations. These will cowl a spread of crop sorts and can handle challenges holding again the sector’s progress and resilience.
Agriculture is important to Africa’s financial system, contributing about 20 % of the continent’s GDP and greater than 60 % of its employment. Nevertheless, Africa presently imports a big proportion of its meals, lowering the continent’s resilience to exterior shocks. The platform’s focused funding technique will assist the sustainable progress of the sector and improve meals safety throughout the continent.
“At present we take a significant step in the direction of a simply African agricultural transformation by mobilizing substantial new financing for African farmers and for the worth chains that assist them” mentioned Mostafa Terrab, Chairman and CEO of OCP Group. “The partnership between IFC and OCP is working to unlock the total potential of Africa to feed not solely itself however the world.”
“Agriculture is a important sector for Africa, and we’re thrilled to scale up our partnership with OCP to enhance meals manufacturing and appeal to funding to the continent”, mentioned IFC Managing Director, Makhtar Diop. “Each IFC and OCP Group will commit assets to develop the platform and we’re eager to draw like-minded companions and potential traders to hitch us on this necessary and well timed challenge.”
By constructing a pipeline of interventions, the platform goals to draw new traders who will have the ability to take part both immediately or not directly. Every funding can be monitored for its affect towards social, financial and environmental measures.
In addition to offering funding, the platform will undertake in-depth research of focused worth chains to determine the challenges going through the sector and design options. The platform goals to foster the emergence of African champions and allow greatest practices to be shared in order that success will be replicated throughout Africa.
The platform has already partnered with Financial institution of Africa to enhance entry to fertilizers and different inputs for African farmers and agri-processors. The platform has additionally designed new initiatives to assist cashew and rice worth chains in Côte d’Ivoire and has already began designing new initiatives in Cameroon, Gabon and different nations.
The event of the platform leverages the experience of INNOVX, a multi-sectorial enterprise platform launched by Mohammed VI Polytechnic College (UM6P) that’s devoted to constructing revolutionary and sustainable companies and ecosystems with a powerful native affect, and the deep information of OCP Africa (OCP Group’s subsidiary devoted to the continent).
IFC and OCP Group Launch $800m Agri-Finance Platform to Construct Sustainable Meals Techniques in Africa.
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