Pan-African development financier GroFin has received a grant of US$10 million from the USAID East Africa Trade and Investment Hub to make investments in the agribusiness sector in East Africa over a two-year period.
Farmers and economists both know that to make things grow you need the right resources and the right conditions. With a uniquely diverse climate and more than half the world’s uncultivated arable land, Africa has the natural resources to drive an agricultural boom. But we have not yet created the right economic conditions.
Igbokwe noted that global agricultural production is already being affected by changes in rainfall and temperature thus compromising food security.
African countries are facing a maize shortage and losses running into billions of dollars due to the devastation caused by the fall armyworm. A new report released by the Centre for Agriculture and Biosciences International (Cabi) shows that improper management of the armyworm could cost 10 of the continent's major maize producing economies between $2.2bn and $5.5bn per year in lost maize harvests.
“Uganda’s fertile agricultural land produces a wide range of food products and has the potential to feed 200 million people in the region and beyond,” said Malac.
Climate change is taking a severe toll on farmers, as they watch their livelihoods disappear with the onslaught of floods, droughts and rising sea levels and temperatures. With agriculture currently employing over 1.3 billion people throughout the world, or close to 40 percent of the global workforce, it is imperative that we incorporate climate resilience into all aspects of crop breeding and food innovation.
The Kilimanjaro Agricultural Training Centre (KATC) has offered to train agricultural experts in East Africa on improved production of rice, one of the staple food crops in the region.