EFTA Ltd’s Post

📍 *Dodoma, Tanzania* Today, NMB Bank's CEO, Ruth Zaipuna, along with the Chief of Retail and Business Banking, Filbert Mponzi, met with Hon. Hussein Bashe (MP), the Minister of Agriculture, in Dodoma. Agriculture is the backbone of Tanzania's economy, and the collaboration between the financial sector and the Ministry of Agriculture is crucial in ensuring that our farmers have access to the resources they need to enhance productivity and efficiency. The discussions between NMB and Hon. Bashe focused on how to improve access to affordable loans for farmers, advance technology and innovation in agriculture, and encourage greater investment in this vital sector. By investing in agriculture, we can not only improve the livelihoods of farmers but also contribute to food security and sustainable economic development for our nation. This partnership between NMB Bank and the Ministry of Agriculture is a prime example of how financial institutions and the government can work together for the benefit of all. #NMBKaribuYako #AgricultureFirst #CollaborativeGrowth #Tanzania

Empowering Youth, Enhancing Food Security in Tanzania The African Development Bank has approved a $129 million loan to support the agricultural sector in #Tanzania, a key step toward boosting productivity, creating jobs for young people, and strengthening #foodsecurity across the country.   By improving access to finance, modern technologies, and training, this initiative will empower young farmers, increase productivity, and support rural communities. The project aims to tackle challenges like climate change, market access, and agricultural value chain development, which are essential for Tanzania’s sustainable growth and food resilience.   Patricia Laverley, the Bank's Country Manager for Tanzania, said: “This project is expected to incubate and empower approximately 11,000 ‘agripreneurs,’ including at least 6,000 young #agribusiness owners.” The program will also facilitate access to finance for 2,500 additional young people already engaged in agribusiness but unable to secure commercial loans, she added. It is estimated that each agribusiness run by a young person will employ an average of five workers. Read more about this impactful initiative and how it will contribute to the country’s growth: https://bit.ly/4eaSNac #AgroTransformation #YouthEmployment

#AfDB Approves US$79 M Loan to Boost Angola's Youth Employment, Agriculture, and Transportation The African Development Bank (AfDB) has approved a US$79 M loan to enhance youth employment, agriculture, and transportation in #Angola. Angola's population is growing rapidly, with half of its 35 million inhabitants being young people. More than 50% of the total workforce is employed in the #agricultural sector. The project aims to create over 5,000 jobs, particularly for young people, and boost agricultural productivity by supporting 150 agricultural cooperatives. Additionally, the loan will facilitate the construction and rehabilitation of 200 km of rural roads to improve access to markets and services, benefiting over 100,000 people in rural areas. https://ow.ly/Colc50SMwCL

We are excited to share details of the newly launched BRIDGE-in Agriculture program in Ghana! Agriculture remains largely under-financed in Ghana despite its importance to the economy and high growth potential. Banks in Ghana are reluctant to extend loans to AgriSMEs mainly due to the high perceived risk associated with the Agricultural sector. Existing annual agriculture financing only represents ~3.6% of all loans and advances from banks.   CrossBoundary Advisory is leading a consortium of seven partners implementing the Mastercard Foundation program designed to help build resilience and invest in the development and growth of Ghanaian entrepreneurs in agriculture. The program recently received approval from the Bank of Ghana to proceed to implementation.    BRIDGE-in Agriculture, which is the acronym for Building Resilience and Investing in the Development and Growth of Entrepreneurs in Agriculture, aims to facilitate access to affordable capital for SMEs in agriculture and adjacent sectors in Ghana. The program will address three objectives as outlined in the Mastercard Foundation’s Youth Entrepreneurship and Development in Agriculture (YENDA) Initiative: access to capital and other financial services; technical assistance to banks; and ecosystem development.    Ultimately, the program goal is to help 400k+ participants in Ghana (at least 70% women) with either access to affordable capital or skills and training support to secure dignified and fulfilling work in agriculture or agriculture-adjacent fields.   Stay tuned for more updates on the BRIDGE-in Agriculture program!   #Agriculture #Ghana #Investment #Youthemployment #Entrepreneurship #YoungAfricaWorks  

In 2016-2017, while at FSDT, I started a project aimed at enabling financial inclusion to smallholder farmers through leveraging agricultural marketing societies or "AMCOS" and the system of selling agricultural commodities via warehouse receipts. This was in partnership with Tanzania Cooperative Development Commission (TCDC) and the Warehouse Receipts Regulatory Board (WRRB). The project focus started in cashew producing regions of Tanzania, namely Mtwara, Lindi, Ruvuma, and Pwani. FinScope Tanzania 2017 survey took place in the same year. It was a perfect baseline. The project received enthusiastic response from the central bank, Bank of Tanzania, and from financial service providers, including banks, mobile money operators, MFIs, etc. Fast forward to FinScope Tanzania 2023, the levels of financial inclusion growth in these regions is significant. In Mtwara, access grew from 63% to 80%, Lindi from 63% to 79%, Ruvuma from 60% to 75%, and Pwani from 73% to 87%. Bank access in Mtwara, Lindi, Ruvuma, and Pwani recorded 30%, 33%, 18%, and 25%. This compared to national average of 22% and compared to other regions such as Dodoma and Morogoro at 18% and13% respectively. In contrast, some regions with high access contracted while many regions remained flat. Iringa went from 78% to 75.6%, Kilimanjaro went from 90% to 77.5% while Njombe stayed flat from 77% to 78% and Kagera from 62% to 61.7%. Is it a coincidence? Maybe. Perhaps Financial Sector Deepening Tanzania can investigate through a deep dive. Nevertheless, the correlation is very positive. Moreover, by 2018 the project expanded to regions including Shinyanga, Simiyu, and Mwanza which have grown from 59% to 65%, 39% to 60%, and 69% to 82% respectively. Much more work is needed to convert access into meaningful usage and into impact for smallholder farmer households and their enterprises; particularly by linking financial solutions to agriculture activities and enterprises. Perhaps there are lessons here to leverage and to keep moving forward. Andrew E. Temu Eric Massinda Jamie Anderson Tanzania Mercantile Exchange PLC NMB Bank Plc CRDB Bank Plc Sosthenes Kewe Irene Madeje Mlola Financial Sector Deepening Tanzania Mutashobya Mushumbusi Justa Martine Samora Lupalla #20yearsofFSDT

African Development Bank Approves USD 129 M Loan for Tanzania's Youth-Focused Agribusiness Program African Development Bank Group (AfDB) has approved a USD 129.7 M loan to Tanzania for the “Building a Better Tomorrow: Youth Initiatives for Agribusiness” program. This project, which aims to create business opportunities and jobs for young people in agriculture, is estimated to cost USD 241.3 M. The program is expected to incubate around 11,000 young "agripreneurs," including 6,000 agribusiness owners. The project will also provide financial support to 2,500 young farmers already in agribusiness but lacking access to commercial loans. Each agribusiness is expected to employ an average of five workers, further boosting employment opportunities in the sector. The initiative will leverage digital technologies such as satellite technology and artificial intelligence to enhance agricultural productivity and improve decision-making for young farming cooperatives. In addition to the AfDB's contribution, the funding package includes grants from the KOAFEC Trust Fund and East-West Seed, with the Tanzanian government providing USD 110.41 M. #Agribusiness #YouthEmployment #Agriculture #Tanzania #DigitalTransformation #AfDB #Incubator

NEWS REVIEW: AFDB INVESTS $10.9BN IN NIGERIA The African Development Bank’s (AfDB) Director-General, Lamin Barrow, announced $10.9 billion in cumulative financing approvals in Nigeria. The bank supports public and private sector projects, focusing on the High 5 priorities. The event emphasized addressing challenges faced by youth and women in agribusiness, to drive Africa’s agricultural revolution and ensure food security... Explore this link to read more... https://lnkd.in/d9r8paYc #agribusinessafrica  #agribusinessnigeria  #agribusiness  #nigeriaagriculture  #economicgrowth  #agricnewsinafrica  #agrinews  #agriculture  #foodsecurity  #agribusinessnews #agriculture

🌾 Bridging the $182 Billion Agriculture Funding Gap in Nigeria 🌾 At the 2024 StanbicIBTC Agribusiness Breakfast Summit, Wole Adeniyi, CEO of Stanbic IBTC Bank, emphasized a critical $182 billion financing gap in Nigeria’s agriculture sector. The theme, "Driving Economic Transformation through Agro-processing: Building a Sustainable Future," highlights the sector's potential to drive economic growth and job creation. The need for financing in agriculture has never been more urgent. Agro-processing alone holds the key to unlocking massive GDP contributions, creating jobs, and ensuring food security. However, the lack of adequate funding hampers progress, keeping our agricultural sector from reaching its full potential. 🌱 To truly transform Nigeria’s economy, we must bridge this funding gap through increased investments and innovative financing models. Government bodies, financial institutions, and development partners must collaborate to ensure access to capital for farmers, agripreneurs, and agro-processors across the value chain. It's time for stakeholders to step up and channel resources where they’re most needed. More investments in agriculture can change the game for Nigeria’s economy. Let’s build a sustainable future together! #AgricultureFinance #AgroProcessing #EconomicTransformation #SustainableDevelopment #Agribusiness @ Sasakawa Africa Association (SAA) AGRA, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH ThriveAgric AFEX Heifer Nigeria

As the country gains political stability and commercial momentum, new opportunities for trade and investment are emerging. The INVEST SOMALIA CONFERENCE & Expo 2024 happening from April24th - 26th, organized by Nation Media Group in partnership with Somalia Ministry of Planning, Investment and economic development, is the perfect platform to explore these opportunities. This conference brings together government agencies, investors, business facilitators, scholars, entrepreneurs, and Somalia friends in diaspora, to network and pursue investment opportunities to rebuild the country's economy. Opportunities in Somalia - Sustainable fishing and export, estimated at an annual yield of 180,000 to 200,000 tons. - 200 billion cubic feet of gas reserves and unexplored oil fields, energy exploration investments. - The fast-growing banking sector, coupled with a world-leading money transfer market, provides lucrative opportunities for financial services expansion. - Potential to generate 30,000 to 45,000 MW from onshore wind power - The largely private healthcare system and minimal insurance coverage present opportunities for investments in healthcare services and insurance products. - Dominating the agricultural GDP, the livestock sector offers opportunities in trade, processing, and export, supported by substantial livestock numbers (7.1M camels, 5.3M cattle, 30.9M goats, and 13.6M sheep). - Rapid urbanization and housing demand in Mogadishu signal strong investment opportunities in real estate development and urban infrastructure. Don't miss out on the chance to showcase and sell your products and services, strike business deals, and explore business opportunities in Somalia. For more information contact me directly through +255 743 31 30 68 | [email protected]. Let's help Somalia reach its full potential! #ISOC2024 #InvestSomalia #SomaliaRising #Entrepreneurship #InvestmentOpportunities

Improving access to credit for farmer organizations and SMEs in #ethiopia is crucial for the growth of the agricultural sector. To address this issue, BENEFIT-SBN piloted a 'guarantee fund' scheme in collaboration with Cooperative Bank of Oromia (CBO), Anbasa, and Abay Banks 🏦 . This initiative aimed to alleviate the stringent collateral requirements imposed by banks, thereby facilitating credit provision to farmer organizations and SMEs. Building upon this practical experience, RAISE-FS conducted a comprehensive review to identify policies, regulations, and directives that hinder the effective implementation of guarantee funds for rural finance 💸 in Ethiopia. RAISE-FS's review provides valuable insights and recommendations for enhancing access to credit. Read more in the document! #foodsystemstransformation #ethiopia #RuralFinance #agriculturesector