Sharp Daily
No Result
View All Result
Wednesday, June 4, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Afreximbank and ARISE IIP tackle food insecurity with new initiative

Judd Mutua by Judd Mutua
November 15, 2023
in News
Reading Time: 2 mins read

The African Export-Import Bank (Afreximbank) has entered into a framework agreement Initiative with ARISE Integrated Industrial Platforms (ARISE IIP) and the governments of Chad, Malawi, Zimbabwe and Egypt for the Export Agriculture for Food Security (ExAFS) Initiative.

ExAFS is a USD 2 billion initiative that aims to boost production, processing, and intra-African trade in agricultural products, providing African farmers and agribusinesses with opportunities to access larger markets across the continent.

Read more: Government backtracks on immigration and citizen fees hike after public uproar

“The initiative is intended to help address food insecurity in Africa, which includes a near 20 per cent hunger rate, by reducing dependence on other regions for much needed food commodities.” Said the bank in a press release

RELATEDPOSTS

High fertilizer uptake despite fake fertilizer controversy, says PS Rono

April 16, 2024

Afreximbank’s Prof. Oramah awarded for championing Pan-African Payment and Settlement System

November 21, 2023

Key components of the initiative include the establishment of agricultural transformation centers (ATCs) through a public-private partnership model. These ATCs, located in agricultural production zones, will serve as hubs for collecting, sorting, storing, and transporting agricultural produce from farming communities to be processed or distributed. Additionally, they will offer farmers various services, including microfinance, basic social services, cold storage facilities, extension services, and training.

Anchor investors, including zone developers, large-scale commercial farmers, seed companies, and development finance institutions, will invest in ATCs and their infrastructure, serving as primary purchasers and aggregators in origin markets.

Read more: EPRA announces decreased diesel, kerosene prices

The continent is grappling with a food security crisis, influenced by factors such as the war in Ukraine, supply chain shortages, conflict, and drought. Africa’s agricultural sector, which makes up a third of its GDP and employs around 50 percent of its population, is plagued by low productivity and under-investment with the The United States Agency for International Development (USAID) estimating a USD 100 billion gap in unmet demand for financing

Email your news TIPS to editor@thesharpdaily.com

Previous Post

CBK Governor warns of fiscal challenges as Kenya’s emergency reserves dwindle

Next Post

Uganda MPs pass bill giving UNOC full power to import oil directly from refineries

Judd Mutua

Judd Mutua

Judd Mutua is a journalist with wide ranging interests ranging from the world of finance to the latest in tech and business news. Off duty you can find him reading his favorite books and manga. Send tips via jmutua@thesharpdaily.com

Related Posts

News

Co-op Bank posts KES 6.9 billion profit in Q1’2025

May 16, 2025
Agriculture And Economy
News

Lets get Kenya out of FATF list

May 9, 2025
News

The downside of Impact Investing

May 2, 2025
News

Leadership challenges at the University of Nairobi

April 24, 2025
News

Easter eggs and earnings: Growing your nest egg with CMMF

April 16, 2025
News

Geoffrey Ruku declares KES 377M net worth during CS vetting

April 15, 2025

LATEST STORIES

How Kenyan banks can modernize without marginalizing

June 4, 2025

Human rights concerns over activists’ treatment in Tanzania

June 4, 2025

Decoding stock-based compensation

June 4, 2025

Comparative advantage is the secret to real economic take off

June 4, 2025

Understanding inflation and its impact on everyday life

June 4, 2025

Economic reforms are costly

June 3, 2025

Cytonn Income Drawdown Fund (CIDDF)

June 3, 2025

Navigating the money market and fixed income funds landscape

June 3, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024