Finance Archives - FarmBiz Africa

US invests $15M investment in African farmers to support food systems

The United States government has announced a $15 million investment to support inclusive and resilient food systems in Africa. This will be targeted at smallholder farmers, women, and small- and medium-sized businesses in food systems across the continent. Announced on Tuesday (02/09/2023), at the Africa Food Systems Forum in Dar es Salaam, Tanzania, USAID Deputy …

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UK charity project to benefit 100,000 Western Kenya youth in agribusiness

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Practical Action and Mastercard Foundation have collaborated in establishing the Resilient Agriculture that Works for Young People (RAY) project. The project is expected to benefit over 100,000 youth in Western Kenya through a mentorship model to increase youth engagement in the agriculture sector. The program will be implemented in the nine counties of Kisumu, Homabay, …

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State-backed affordable seasonal crop lending increased by Sh8 billion

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President William Ruto on Wednesday announced that the government will Increase the budget for the Agriculture Finance Corporation (AFC) for seasonal crop lending from two billion shilling to ten billion shillings to facilitate affordable credit to farmers. The credit will be provided at single-digit rates to reduce the cost of production for farmers and improve …

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Kenya secures Sh7.5B loan for subsidised fertilizer & seeds ahead of short rains

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By George Munene The African Development Bank Group has approved a Sh7.5 billion loan to Kenya to enable the government to provide affordable fertilizer and seeds to farmers ahead of the October-December 2022 short rains and into the 2022/2023 long rains crop production season. This will boost cereals and oil seeds production by over 1.5 …

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