13 African Countries Partner With India To Enhance Agricultural Industrialization [2017]

Thirteen (13) African countries have signed a series of partnership agreements (including Nigeria) with India to enhance agricultural industrialization, which includes supply of agricultural machinery, credit advancement to farmers and scientific cooperation.

Agricultural IndustrializationThese partnerships were announced as African Ministers of Agriculture, private sector associations and industry representatives from India and Africa, converged for crucial sessions of deal-making at the 52nd session of the African Development Bank (AfDB) Annual Meetings in India, to rapidly advance cooperation.

To ensure a trade balance between the two regions, the Indian Government is currently preparing an aide memoire – an informal diplomatic communication to all African countries, as well as the country’s readiness to accept imports of key cereals and grains from African producers. In addition, the Indian Government has made a proposal to provide vaccines to enable West African countries to deal with foot and mouth disease – an illness that affects livestock production, as well as its eagerness to advance cooperation through rapid expansion of agriculture.

According to Gujarat State Minister of Agriculture, Chimanbhai Dharamshibai Shaparia:

“We feel the areas identified for cooperation could raise agricultural productivity in Africa because these include our support to the Pan African University Institute of Life and Earth Sciences in Ibadan, Nigeria. We want to ensure that capacity building is given full priority.”

The proposals to invest in Africa’s climate-smart future in farming, providing high quality but low-cost farm machinery and opening avenues for cooperation between Indian and African industry group representatives, stood out as one of the most practical highlights of the 52nd session of the AfDB Annual meeting in the outskirts of the Gujarat capital, Ahmedabad.

AFDB Approves $280 Million To Support Nigerian Youths In Agriculture

The President of the African Development Bank (AFDB), Dr Akinwumi Adesina, says the $280 million approved by the bank would be used to encourage Nigerian youths to go into agro-business.

Adesina, represented by Dr Chiji Ojukwu, a Director in AFDB, stated this on Tuesday in Ibadan at the African Youth Agripreneurs (AYA) Forum organised by the International Institute of Tropical Agriculture (IITA), Ibadan.

Adesina said with International Institute of Tropical Agriculture (IITA) training initiative and the financial support from AFDB, more youths would be interested to go into agribusiness. Furthermore, AFDB is working with 33 countries to give assistance to youths in agriculture with Zambia, Sudan, GR Congo, Cameroon and Nigeria already given necessary assistance in 2016.

He said that the Bank was targeting 37,000 youths in Nigeria who would be given $50,000 each as support in agriculture business.

According to Dr. Akinwumi Adesina,

“The $280m that we have approved for Nigeria cannot be enough; we need $1.8 billion to accommodate the 37,000 youths.

This is why we are giving 80 per cent of the money to commercial banks so that they can lend from their own balance sheet and we expect that every dollar we put in would generate five dollars.’’

Adesina said the programme was for young graduates who could easily be trained on agriculture.

AfDB Approves $155 Million Loan For Nigeria’s EPSERP

According to Fatimah Alkali, Senior Communications Officer of the Africa Development Bank (AfDB), Bank has approved a loan of $155 million for Economic and Power Sector Reform Programme (EPSERP) in Nigeria.

The loan is aimed at improving power systems, business environment and sustaining growth through sound macroeconomic policies and budget priorities.

The programme was designed to benefit the entire population of Nigeria in terms of extended access to more reliable supply of electricity at reduced rate.