#Financing for Smallholder Farmers

[projectchampionz]

Improving Access to Inclusive Financing for Smallholder Farmers through Crop Farming and Agri-Finance Innovations

Improving Access to Inclusive Financing for Smallholder Farmers through Crop Farming and Agri-Finance Innovations Background: Smallholder farmers in developing countries often lack access to affordable and appropriate financial services that could help them improve agricultural productivity, increase incomes, and build resilience. Traditional financial institutions have struggled to serve this…

[solarpunkbusiness]

Innovative business models for small scale solar powered irrigation

If rolled out at scale, solar-powered irrigation systems hold huge potential. They work for smallholder farmers, who account for 80% of sub-Saharan Africa’s farms, according to the UN Food and Agriculture Organization. But they also displace expensive and polluting diesel pumps and can, if managed correctly, contribute to efforts to manage scarce water resources well for the long term.

Chiefly, there is the issue of affordability. Farmers need to be able to pay the upfront cost of a solar-powered irrigation system and to pay for the duration of its use. When compared with the diesel-fueled irrigation pumps many farmers use today, the total lifetime cost of solar powered irrigation systems can be substantially lower. We estimate farmers can save 40% to 60% on irrigation costs.

As we see across the off-grid solar sector, adopting a pay-as-you-go (PAYG) approach – or, in our case, pay-as-you-grow – has the benefit of allowing farmers to pay for their systems over time, as their income increases due to better harvests.

Moving on from affordability, maintenance is the next key challenge, particularly in remote and rural areas where farms can be hard to reach and the availability of trained technicians is limited. By managing the lifecycle of pumps from design through manufacture, finance, installation, and maintenance, companies can work with farmers to ensure that pumps are able to continue to function in often challenging local conditions, season after season.

Internet-of-things (IoT)-enabled technology enables trained teams to monitor pump performance and conduct maintenance remotely. This is complemented by strategically located sales and service centers and a distributed team of field engineers able to rapidly respond to maintenance issues, expand local capacity and minimize downtime for farmers reliant on irrigation for successful harvests.

Again, solar-powered irrigation has an advantage over diesel pumps in that their fuel source is abundant and locally available. Fewer moving parts also make solar-powered irrigation systems less liable to break down than their diesel counterparts.

Source

[rjzimmerman]

Excerpt from this story from EcoWatch:

According to the new Banking on Climate Chaos Fossil Fuel Finance Report 2024, the largest banks in the world have given $6.9 trillion in fossil fuel funding to the industry since the 2016 Paris Agreement.

The goal of the Paris Agreement — signed by 196 countries — is to limit human-caused global heating to 1.5 degrees Celsius above pre-industrial levels by lowering carbon dioxide emissions. However, contrary to their pledges, private interests in many countries have kept funding the operations of fossil fuel companies, which have continued to expand, reported The Guardian.

The impacts of climate change most often affect vulnerable communities who are the least responsible for it.

“Climate change hits the frontlines first and worst. People living on the frontlines of climate chaos and the fossil fuel industry are predominantly Indigenous Peoples, Black and Brown communities, low-wage workers, women, fishers or smallholder farmers, often living in poverty,” Banking on Climate Chaos said.

For the 15th edition of the report, the researchers looked at the underwriting and lending of the biggest 60 banks globally to more than 4,200 oil, gas and coal firms that were causing environmental destruction in the Arctic and Amazon, The Guardian reported.

They discovered that, of the nearly $7 trillion given to the companies, almost half supported the expansion of fossil fuel development.

Banks in the United States were the biggest culprits, giving 30 percent of last year’s $705 billion total. JPMorgan Chase’s support of fossil fuels was $40.8 billion in 2023 — the largest financier. The second largest contributor was Japan’s Mizuho with $37.1 billion, while Bank of America was third.

Europe’s biggest donor was Barclays with $24.2 billion. A little more than a quarter of the financing last year came from European banks, the report said.

[notwiselybuttoowell]

Karina Gonçalves David, a small-scale farmer representative from Brazil, is concerned by the presence of powerful and polluting firms. “If they are inside, they have an advantage. This place is about solutions to face the climate crisis but the companies are appropriating it to do lobbying. They are going the opposite way.”

The world’s top five meat companies’ emissions are estimated to be significantly larger than those of the oil firms Shell and BP, while the dairy industry’s 3.4% contribution to global human-induced emissions is a higher share than aviation.

Outspoken meat lobby groups are also on the ground in Dubai, including the North American Meat Institute, which as recently as 2022 claimed the extent of human-made climate breakdown was “unknown”.

Producers of pesticides have also turned out in high numbers this year, up 30% compared with 2022.

Together, Bayer, Syngenta, BASF and their trade association, CropLife, which has pushed back against attempts to enact new climate measures, sent 29 delegates.

Raj Patel, of the sustainability thinktank IPES-Food, said: “Just as with the influx of oil lobbyists, industrial agriculture businesses are scared. They have read the science and they know how much their business has driven the climate crisis.”

Big food and farming representatives are keen to steer conversations away from dietary change, which is under discussion at the summit. On Sunday, the UN’s Food and Agriculture Organisation will release the first draft of its plan for achieving a sustainable global food system, which is expected to call on rich nations to cut meat consumption.

This follows the recommendation of the Eat-Lancet Commission, which suggests people consume no more than 15.7 kg a year. In 2020, the average American consumed 126kg of meat.

Smallholder farmers are worried they will be sidelined by the power of the agribusiness lobby. A recent report showed small-scale producers get just 0.3% of international public climate finance despite producing a third of the world’s food.

Most corporations, lobby groups and NGOs that attend the Cop climate summits have “observer” status, but the analysis shows an increase in the number of industry representatives attending Cop28 with their national governments, making companies and lobby groups party to diplomatic negotiations.

Participating as country delegates, says Nusa Urbancic from the Changing Markets Foundation, means that industry may be perceived more as peers by policymakers who then give greater credibility to their positions.

The highest numbers of agribusiness representatives were brought in by Brazil, with 36 delegates linked mostly to the meat industry. Next in line was Russia, which handed out 15 passes to people affiliated with fertiliser companies and lobby groups, followed by Canada, which offered tickets to eight more delegates from fertiliser firms.

Fabrício Muriana, from Brazil’s Instituto Regenera, who is attending as an observer with the Global Alliance for the Future of Food, said: “They are here because they knew it would be a food Cop. It’s a cynical move because these people are not even beginning to scratch the surface of reducing harm, let alone addressing climate. We need stricter criteria on who is coming, and with what intentions.”

Big food companies have announced a handful of voluntary initiatives at Cop28. One is the UAE- and US-led Aim for Climate partnership, which has been criticised for skewing heavily towards techno-fixes and the commercial interests of large corporations.

The new analysis gives only a snapshot of the industrial agriculture sector’s influence. Agriculture and trade ministers, which fell outside the scope of the analysis, have been fierce advocates for the interests of agribusiness at UN events in recent years.

Government officials from Brazil and Argentina – both big producers of beef – pushed to water down scientific recommendations about reducing meat-eating in the latest IPCC report.

The US agriculture secretary, Tom Vilsack, a former dairy lobbyist, told industry groups before Cop28 that the US would use the summit to advocate for its market-based approach to agricultural policy, which shuns calls for regulation of industries such as meat and dairy.

[mariacallous]

If you ever had pastries at breakfast, drank soy milk, used soaps at home, or built yourself a nice flat-pack piece of furniture, you may have contributed to deforestation and climate change.

Every item has a price—but the cost isn’t felt only in our pockets. Hidden in that price is a complex chain of production, encompassing economic, social, and environmental relations that sustain livelihoods and, unfortunately, contribute to habitat destruction, deforestation, and the warming of our planet.

Approximately 4 billion hectares of forest around the world act as a carbon sink which, over the past two decades, has annually absorbed a net 7.6 billion metric tons of CO2. That’s the equivalent of 1.5 times the annual emissions of the US.

Conversely, a cleared forest becomes a carbon source. Many factors lead to forest clearing, but the root cause is economic. Farmers cut down the forest to expand their farms, support cattle grazing, harvest timber, mine minerals, and build infrastructure such as roads. Until that economic pressure goes away, the clearing may continue.

In 2024, however, we are going to see a big boost to global efforts to fight deforestation. New EU legislation will make it illegal to sell or export a range of commodities if they have been produced on deforested land. Sellers will need to identify exactly where their product originates, down to the geolocation of the plot. Penalties are harsh, including bans and fines of up to 4 percent of the offender's annual EU-wide turnover. As such, industry pushback has been strong, claiming that the costs are too high or the requirements are too onerous. Like many global frameworks, this initiative is being led by the EU, with other countries sure to follow, as the so-called Brussels Effect pressures ever more jurisdictions to adopt its methods.

The impact of these measures will only be as strong as the enforcement and, in 2024, we will see new ways of doing that digitally. At Farmerline (which I cofounded), for instance, we have been working on supply chain traceability for over a decade. We incentivize rule-following by making it beneficial.

When we digitize farmers and allow them and other stakeholders to track their products from soil to shelf, they also gain access to a suite of other products: the latest, most sustainable farming practices in their own language, access to flexible financing to fund climate-smart products such as drought-resistant seeds, solar irrigation systems and organic fertilizers, and the ability to earn more through international commodity markets.

Digitization helps build resilience and lasting wealth for the smallholders and helps save the environment. Another example is the World Economic Forum’s OneMap—an open-source privacy-preserving digital tool which helps governments use geospatial and farmer data to improve planning and decision making in agriculture and land. In India, the Data Empowerment Protection Architecture also provides a secure consent-based data-sharing framework to accelerate global financial inclusion.

In 2024 we will also see more food companies and food certification bodies leverage digital payment tools, like mobile money, to ensure farmers’ pay is not only direct and transparent, but also better if they comply with deforestation regulations.

The fight against deforestation will also be made easier by developments in hardware technology. New, lightweight drones from startups such as AirSeed can plant seeds, while further up, mini-satellites, such as those from Planet Labs, are taking millions of images per week, allowing governments and NGOs to track areas being deforested in near-real time. In Rwanda, researchers are using AI and the aerial footage captured by Planet Labs to calculate, monitor, and estimate the carbon stock of the entire country.

With these advances in software and hard-tech, in 2024, the global fight against deforestation will finally start to grow new shoots.

[victorysp]

#UNSGSA Queen Máxima speaks at today's #wef23 #FinancialInclusion Beyond Access session, examining how innovation & collaboration can bring inclusive finance to the underserved, such as the poor, women, smallholder farmers, and MSMEs.

📷 UNSGSA vía Twitter

[xinrenresearch]

Africa Agritech Market: Trends, Drivers, and Opportunities

The Africa agritech market is experiencing a transformative wave as technology meets agriculture, unlocking new potential for farmers and agribusinesses across the continent. With a rapidly growing population and increasing demand for food security, this market is ripe for innovation. This report explores the current landscape, highlighting key trends, challenges, opportunities, and market drivers.

Full Report At: https://www.xinrenresearch.com/regional-reports/africa-agritech-market/

Market Dynamics of Agritech in Africa

The agritech market in Africa is evolving due to a confluence of factors, including advancements in technology, changing consumer preferences, and the urgent need for sustainable agricultural practices. As African nations strive for food security and improved agricultural productivity, agritech solutions are stepping in to bridge the gap.

Innovations such as precision agriculture, mobile apps for farming advice, and automated farming equipment are gaining traction. These technologies not only enhance productivity but also contribute to sustainable farming practices that are vital for the continent's future.

Key Market Drivers

Population Growth and Urbanization Africa's population is projected to reach 2.5 billion by 2050, leading to increased food demand. Urbanization further drives the need for efficient agricultural practices to ensure food security for growing urban populations.

Technological Advancements The rise of digital technology, including mobile phones and the internet, is revolutionizing agriculture in Africa. Farmers now have access to valuable information, market prices, and weather forecasts, enabling better decision-making and increased productivity.

Government Initiatives Many African governments are implementing policies to promote agritech adoption. These initiatives include funding for research and development, subsidies for technology adoption, and partnerships with private sector players to foster innovation.

Investment from Private Sector There is a surge in investment from venture capital firms and agribusinesses looking to tap into the African agritech space. This influx of funding supports startups and established companies in developing innovative solutions tailored to local agricultural challenges.

Climate Change and Sustainability As climate change poses significant threats to agriculture, there is a pressing need for sustainable practices. Agritech solutions, such as drought-resistant crops and efficient water management systems, help farmers adapt to changing conditions while promoting environmental sustainability.

Key Trends in the Africa Agritech Market

Precision Agriculture The adoption of precision agriculture technologies is on the rise. Farmers are utilizing data analytics, satellite imagery, and IoT devices to monitor crop health, optimize resource use, and increase yields.

Digital Platforms for Market Access Digital platforms are connecting farmers with consumers, enabling direct sales and reducing reliance on middlemen. These platforms enhance transparency and improve farmers’ income by giving them access to broader markets.

Agri-Fintech Solutions Financial technology tailored for agriculture is gaining momentum. Innovative financing solutions, such as microloans and insurance products, are helping farmers access capital and manage risks effectively.

Challenges Facing the Market

Despite its potential, the Africa agritech market faces several challenges. Limited access to technology and infrastructure in rural areas can hinder adoption. Additionally, regulatory hurdles and lack of awareness among farmers about available technologies can slow market growth. Ensuring that solutions are affordable and accessible to smallholder farmers remains a significant challenge.

Opportunities for Growth

The future of the Africa agritech market is promising. As technology continues to evolve and investment increases, the potential for agritech solutions to transform the agricultural landscape is immense. Companies that focus on developing affordable, scalable, and user-friendly technologies will likely thrive in this emerging market.

Conclusion

The Africa agritech market is at a critical turning point. With a growing population, increasing demand for food security, and the rise of innovative technologies, the potential for growth is substantial. By embracing agritech solutions and fostering collaboration among stakeholders, Africa can revolutionize its agricultural sector and pave the way for a sustainable future.

This market represents more than just agricultural innovation; it embodies the hope for a food-secure Africa. Those who seize the opportunities and address the challenges will play a crucial role in shaping the continent's agricultural landscape for generations to come.

More Reports At : https://www.xinrenresearch.com/

[palmoilnews]

RSPO Thailand affirms commitment to developing Sustainable Palm Oil sectorTechnologies Palm Oil Actors Call for Promotion of RSPO Certification, Aiming to Drive Regional and Global Demand for Sustainable Thai Palm Oil Products Bangkok, 25 October 2024: Thailand, the world's third-largest exporter of palm oil, is strengthening public-private partnerships to create a more sustainable palm oil industry. On Friday, October 25, 2024, the Roundtable on Sustainable Palm Oil (RSPO) held a media and stakeholder briefing to provide insights into Thailand's sustainable palm oil sector. Participants included representatives from the Thailand Alliance for Sustainable Palm Oil (TASPO), the Office of Agricultural Economics, the Ministry of Agriculture and Cooperatives and the Srijaroen Sustainable Oil Palm Production Community Enterprise Group. Thailand's sustainable palm oil production has demonstrated extraordinary growth of more than 200%, expanding from 348,027 tonnes in 2019 to 1,112,048 tonnes in 2024. This surge is centred in key southern provinces, including Surat Thani, Krabi, Chumphon, Nakhon Si Thammarat, and Phangnga. Thailand's certified sustainable palm oil (CSPO) spans an impressive 57,336 hectares, a reflection of the country's prioritisation of sustainable agricultural practices. Asanee Malampush, President of the Thailand Alliance for Sustainable Palm Oil (TASPO) and President of the Palm Oil Refinery Association highlighted that while Thailand has been exporting excess palm oil in recent years, this is mainly in the form of crude palm oil (CPO) without added value. He emphasised the need to position palm oil produced in Thailand as desirable and high-quality. "It must be sustainable, low-carbon, and fairtrade." He stressed the importance of farmers receiving a fair deal and not allowing private companies to dominate profits. Prioritising Support for Smallholders Smallholders are the backbone of Thailand's palm oil industry, accounting for about 85% of production. In Thailand, smallholders are defined as growers with less than 50 hectares (312.5 rai) of land. Thailand was the first country to establish four RSPO Certified independent smallholder groups in 2012. During the briefing, RSPO Technical Manager, Radda Larpnun noted, "Most Thai smallholders manage oil palm plantations of about 0.64 - 0.80 hectares and often lack the resources for effective management. As a result, yields are low, averaging 18.75 - 20 tons per 1 ha. This limited production and restricted access to financing and knowledge reduce their bargaining power in price negotiations and hinder their economic security." "RSPO remains committed to facilitating certification for Thai smallholders, as this is strongly aligned with the Thai government and private sector's ambitions to drive demand for high quality and sustainable palm oil products", she added. As of October 2024, RSPO Thailand's membership includes 91 groups of both small and large-scale farmers, with 34 RSPO Certified independent smallholder groups. This encompasses over 9,062 farmers, covering a certified area of 45,410 hectares. RSPO Certification provides smallholders with better access to resources, market opportunities, and premium prices for Fresh Fruit Bunches, enhancing their economic outcomes. Certified smallholder groups can achieve annual gains of up to 10.416 million Thai Baht (THB) (approximately 287,401 USD). "To encourage farmers to meet RSPO Standards, government agencies and the private sector must strengthen their support through sustainable palm oil education, facilitating group formation, and improving financial access," stated. Chaowalit Wuttipong, Chairman of the Srijaroen Sustainable Oil Palm Production Community Enterprise Group. The RSPO Smallholder Support Fund (RSSF) has provided financial assistance to help oil palm smallholders adopt sustainable practices since 2014. A total of 5,274 smallholders in Thailand have benefited, receiving 12,658,792 THB (383,101 USD). Surat Thani: A National Model for Sustainable Palm Oil Production Representing the Palm Oil National Board, Dr. Kanjana Kwanmuang, Deputy Secretary General of the Office of Agricultural Economics, Ministry of Agriculture and Cooperatives stated, "Since April 2024, the Ministry of Agriculture and Cooperatives, alongside the Ministry of Commerce and the Ministry of Industry, has been acknowledging and promoting the RSPO Standards. Our commitment extends to supporting research and development initiatives that enhance commercial value, ensuring that sustainable practices contribute to the growth and prosperity of our agricultural sector." In 2022, the RSPO and the Surat Thani Provincial Office signed a Memorandum of Understanding (MoU) to scale up Surat Thani as Thailand's model city and an innovation and technology hub for certified sustainable palm oil. Since 2022, the RSPO CSPO plantation area in Surat Thani has grown from 13,148.53 hectares to 17,246.29 hectares, a 31% increase. Certified Fresh Fruit Bunch (FFB) production has risen from 209,858.53 tonnes to 283,818.69 tonnes. RSPO Certification now spans 12 districts with 3,619 RSPO Certified farmers. RSPO aims to expand certification to oil palm plantation areas across all 17 districts of Surat Thani. Thailand aims to highlight its ongoing sustainability efforts and competitiveness in the global market at the upcoming RSPO Roundtable Conference (RT2024) on November 11-13, 2024, in Bangkok. A further 30 independent smallholder groups are set to receive RSPO Certification at RT2024. This growth reflects Thailand's commitment to elevate palm oil production standards and promote sustainability within the country's agricultural sector, aiming to improve the quality of life for farmers and communities involved in palm oil production. About RSPO: The Roundtable on Sustainable Palm Oil (RSPO) is a global partnership to make palm oil sustainable. Formed in 2004, the RSPO is a multi-stakeholder non-profit organisation that unites members from across the palm oil value chain, including oil palm producers, palm oil processors and traders, consumer goods manufacturers, retailers, banks, and investors, environmental or nature conservation non-governmental organisations (NGOs), and social or developmental NGOs. As a partnership for progress and positive impact, the RSPO facilitates global change to make the production and consumption of palm oil sustainable. To inspire change, we communicate the environmental and social benefits. To make progress, we catalyse collaboration. To provide assurance, we set the standards of certification. The RSPO is registered as an international association in Zurich, Switzerland, with main offices in Malaysia and Indonesia, and offices in China, Colombia, Netherlands, United Kingdom, and the United States.

[dh5ryxhgbctgr]

Zimbabwe Solar Water Pumps Market Review and Strategic Growth Pathways 2024 - 2032

The solar water pumps market in Zimbabwe is emerging as a critical solution to the country's water supply challenges, especially in rural and underserved areas. As the nation faces issues related to water scarcity and energy access, solar water pumping systems offer an efficient and sustainable alternative. This article examines the current state of the market, key drivers, challenges, and future prospects.

Market Overview

Definition of Solar Water Pumps

Solar water pumps are systems that utilize solar energy to power water pumping solutions. They are particularly beneficial in regions with limited access to electricity, providing a reliable source of water for agricultural, domestic, and industrial use. These systems consist of solar panels, pumps, and control systems that work together to transport water efficiently.

Market Size and Growth

The Zimbabwean solar water pumps market has seen significant growth in recent years, driven by increasing awareness of renewable energy solutions and government initiatives aimed at improving water access. With a high solar irradiance level, Zimbabwe is well-positioned to harness solar energy for various applications, including water pumping.

Key Drivers of Market Growth

Water Scarcity Issues

Zimbabwe faces persistent water scarcity due to factors such as climate change, droughts, and inadequate infrastructure. Solar water pumps provide a reliable means of accessing water, particularly in rural areas where traditional water sources may be unreliable.

Government Initiatives and Policies

The Zimbabwean government has been actively promoting the use of renewable energy and sustainable practices. Policies that encourage the adoption of solar technologies, including financial incentives and subsidies, are driving the growth of the solar water pumps market.

Agricultural Demand

Agriculture is a crucial sector in Zimbabwe, and efficient irrigation practices are essential for increasing crop yields. Solar water pumps facilitate irrigation in remote areas, allowing farmers to cultivate crops year-round and improve food security.

Types of Solar Water Pumps

Surface Pumps

Surface solar water pumps are used to draw water from shallow sources, such as wells or ponds. They are ideal for irrigation and domestic use in areas where water sources are readily accessible.

Submersible Pumps

Submersible solar water pumps are designed to operate underwater, making them suitable for deeper wells. These pumps are often used in agricultural applications and for providing water to communities with limited access to surface water.

Market Segmentation

By Application

Agriculture

Domestic Use

Industrial Use

Livestock Watering

By Region

Harare

Bulawayo

Mutare

Gweru

Challenges Facing the Market

High Initial Costs

Despite the long-term savings associated with solar water pumps, the initial investment can be a barrier for many consumers, especially smallholder farmers. Access to affordable financing options is crucial for increasing adoption rates.

Limited Awareness and Education

Many potential users in rural areas may lack awareness of the benefits of solar water pumps. Educational initiatives and outreach programs are needed to inform communities about the advantages of these systems.

Technical Expertise and Maintenance

The effective operation of solar water pumps requires technical knowledge for installation and maintenance. A shortage of skilled technicians can lead to challenges in ensuring system longevity and performance.

Future Trends

Increasing Adoption of Hybrid Systems

The integration of solar water pumps with other renewable energy sources, such as wind or diesel generators, is likely to grow. Hybrid systems can provide a reliable water supply in areas with fluctuating solar availability.

Technological Innovations

Advancements in solar technology, including more efficient solar panels and smart control systems, are expected to enhance the performance and affordability of solar water pumps. These innovations will make systems more accessible and user-friendly.

Growth of Public-Private Partnerships

Collaboration between the government and private sector entities can drive investment in solar water pump projects. Such partnerships can facilitate the development of infrastructure and improve access to financing for consumers.

Conclusion

The solar water pumps market in Zimbabwe is on a growth trajectory, driven by the need for sustainable water solutions in the face of scarcity and energy challenges. With supportive government policies, increasing agricultural demands, and advancements in technology, the market is poised for expansion. By addressing challenges such as high initial costs and limited awareness, stakeholders can unlock the full potential of solar water pumps, ensuring reliable water access for communities across Zimbabwe.

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[news365timesindia]

[ad_1] IDH held the second edition of its annual event, SUTRA 2.0: The Sustainable Trade Summit 2024, at The Oberoi, Gurugram, on October 17-18, 2024. With the theme "Accelerating Responsible Sourcing in Indian Markets," the summit brought together around 400 industry leaders, policymakers, and sustainability experts to discuss the challenges and solutions to advance responsible sourcing and sustainable supply chains. BharatRohan was the platinum sponsor, with Everest & Jayanti Herbs & Spice as additional sponsors, and Sattva Consulting served as the Knowledge Partner. Building on the success of the inaugural summit, SUTRA 2.0 emphasized ethical and sustainable practices across key sectors such as agriculture, textiles, spices, and palm oil.The Sustainable Trade Summit 2024 by IDH at The Oberoi, GurugramSutra 2.0 featured engaging sessions, covering topics such as regenerative agriculture, innovative financing, gender-inclusive business models, and the transformative role of technology. The key speakers during the event included H.E. Marisa Gerards, Ambassador of the Kingdom of the Netherlands to India; Daan Wensing, Global CEO of IDH; Jagjeet Singh Kandal, Country Director - India, IDH; Sanjeev Asthana, CEO, Patanjali Foods; Sonali Shahpurwala, Managing Director & Head, Inclusive Banking at HSBC India; Anukool Joshi, Director Agro, PepsiCo India; Malavika Gopinath, Sustainability Lead, Olam Agri, and Vilas Shinde, Chairman of Sahyadri Farms. Their insights provided strategies for integrating sustainability into business practices, making supply chains more resilient and socially responsible.Speaking at the event, Daan Wensing Global CEO and Chair of the Executive Board, said, "Today, India is the world's fifth-largest economy, characterized not only by its role as a major producer but also by a rapidly growing consumer market. With agriculture contributing 15% to the country's GDP, the sector plays a key role in driving its growth. As India works towards its development and climate targets, our focus must now be on ensuring agricultural transformations are both sustainable and just, benefiting smallholder farmers and their communities. Through SUTRA, we are creating a platform to building strong partnerships and driving collective action for more sustainable and inclusive value chains in India."Panel discussions at the summit focused on advancing sustainable farming, strengthening supply chain resilience, and accelerating public-private partnerships through technology. The summit highlighted the power of pre-competitive collaboration, with discussions on leveraging gender-responsive business models and innovative financing to drive sustainable trade. Breakout sessions explored key value chains such as spices, palm oil, coffee, and textiles, addressing sector-specific barriers and solutions. Additionally, the agenda featured cross-sectoral insights on sustainable procurement and regenerative agriculture, aiming to reshape industry practices for a more sustainable future.Jagjeet Singh Kandal, Country Director - India, IDH, remarked, "Agriculture, a means of livelihood for millions, and a cornerstone of our economy and cultural heritage, stands at a critical juncture today. Not only must we contend with climate change, but we must also prioritise social equity. To ensure a sustainable future, we must focus on three pillars: environmental stewardship, economic viability, and social equity. The SUTRA 2.0 summit on responsible sourcing in India is a crucial platform that will foster important dialogue and unlock pathways to ensure that we empower our farmers while protecting our natural resources." The summit served as a platform to launch several new initiatives aimed at scaling sustainable sourcing in key sectors and addressing some of the pertinent challenges. These initiatives include pre-competitive collaborations in multiple sectors, as well as investment commitments to support smallholder farmers and promote climate-resilient agricultural practices.

The summit featured the launch of the India Sustainable Palm Oil Manifesto. The Manifesto seeks to unite stakeholders from the private sector, government, and civil society around a shared commitment to sustainable palm oil sourcing. Additionally, The Life and Building Safety (LABS) Initiative and the National Safety Council (NSC) signed an MoU to enhance safety in the apparel and textile industries. The partnership will focus on knowledge sharing, training, and improving safety standards to protect workers and foster a culture of safety excellence.A study facilitated by the Womens Safety Accelerator Fund (WSAF) on the Assam tea sector, launched alongside a handbook on addressing gender stereotypes, reveals the impact of gender-based violence on business outcomes through econometric analysis. The study highlights productivity and revenue losses, as well as additional costs tea estates face due to discrimination and violence against women workers, offering insights for tracking the return on investment in addressing these issues. The handbook, aimed at industry leaders, encourages awareness and reflection on unconscious biases from the boardroom to farms, fostering mindfulness and promoting gender equity across the value chain.As the summit concluded, participants committed to translating the summit's outcomes into actionable steps for businesses, governments, and civil society. IDH will continue driving sustainable trade by expanding the SUTRA 2.0 ecosystem to include more partnerships and projects that mainstream responsible sourcing practices across global value chains.For more information about the event, please visit: idhsutra.com/index.htmlAbout IDH IDH seeks to transform markets through collaborative innovation, convening and investment in inclusive and sustainable solutions that enable businesses to create value for people and planet. To achieve this, IDH brings together coalitions of committed stakeholders from across global value chains towards joint visions and program agendas for sustainable trade in key agricultural, manufacturing, apparel and commodity value chains. In 16 years of operation, IDH has mobilized private sector investment and support to test and innovate new business models designed to create better jobs, better incomes, a better environment, and gender equity for all. [ad_2] Source link

[news365times]

[ad_1] IDH held the second edition of its annual event, SUTRA 2.0: The Sustainable Trade Summit 2024, at The Oberoi, Gurugram, on October 17-18, 2024. With the theme "Accelerating Responsible Sourcing in Indian Markets," the summit brought together around 400 industry leaders, policymakers, and sustainability experts to discuss the challenges and solutions to advance responsible sourcing and sustainable supply chains. BharatRohan was the platinum sponsor, with Everest & Jayanti Herbs & Spice as additional sponsors, and Sattva Consulting served as the Knowledge Partner. Building on the success of the inaugural summit, SUTRA 2.0 emphasized ethical and sustainable practices across key sectors such as agriculture, textiles, spices, and palm oil.The Sustainable Trade Summit 2024 by IDH at The Oberoi, GurugramSutra 2.0 featured engaging sessions, covering topics such as regenerative agriculture, innovative financing, gender-inclusive business models, and the transformative role of technology. The key speakers during the event included H.E. Marisa Gerards, Ambassador of the Kingdom of the Netherlands to India; Daan Wensing, Global CEO of IDH; Jagjeet Singh Kandal, Country Director - India, IDH; Sanjeev Asthana, CEO, Patanjali Foods; Sonali Shahpurwala, Managing Director & Head, Inclusive Banking at HSBC India; Anukool Joshi, Director Agro, PepsiCo India; Malavika Gopinath, Sustainability Lead, Olam Agri, and Vilas Shinde, Chairman of Sahyadri Farms. Their insights provided strategies for integrating sustainability into business practices, making supply chains more resilient and socially responsible.Speaking at the event, Daan Wensing Global CEO and Chair of the Executive Board, said, "Today, India is the world's fifth-largest economy, characterized not only by its role as a major producer but also by a rapidly growing consumer market. With agriculture contributing 15% to the country's GDP, the sector plays a key role in driving its growth. As India works towards its development and climate targets, our focus must now be on ensuring agricultural transformations are both sustainable and just, benefiting smallholder farmers and their communities. Through SUTRA, we are creating a platform to building strong partnerships and driving collective action for more sustainable and inclusive value chains in India."Panel discussions at the summit focused on advancing sustainable farming, strengthening supply chain resilience, and accelerating public-private partnerships through technology. The summit highlighted the power of pre-competitive collaboration, with discussions on leveraging gender-responsive business models and innovative financing to drive sustainable trade. Breakout sessions explored key value chains such as spices, palm oil, coffee, and textiles, addressing sector-specific barriers and solutions. Additionally, the agenda featured cross-sectoral insights on sustainable procurement and regenerative agriculture, aiming to reshape industry practices for a more sustainable future.Jagjeet Singh Kandal, Country Director - India, IDH, remarked, "Agriculture, a means of livelihood for millions, and a cornerstone of our economy and cultural heritage, stands at a critical juncture today. Not only must we contend with climate change, but we must also prioritise social equity. To ensure a sustainable future, we must focus on three pillars: environmental stewardship, economic viability, and social equity. The SUTRA 2.0 summit on responsible sourcing in India is a crucial platform that will foster important dialogue and unlock pathways to ensure that we empower our farmers while protecting our natural resources." The summit served as a platform to launch several new initiatives aimed at scaling sustainable sourcing in key sectors and addressing some of the pertinent challenges. These initiatives include pre-competitive collaborations in multiple sectors, as well as investment commitments to support smallholder farmers and promote climate-resilient agricultural practices.

The summit featured the launch of the India Sustainable Palm Oil Manifesto. The Manifesto seeks to unite stakeholders from the private sector, government, and civil society around a shared commitment to sustainable palm oil sourcing. Additionally, The Life and Building Safety (LABS) Initiative and the National Safety Council (NSC) signed an MoU to enhance safety in the apparel and textile industries. The partnership will focus on knowledge sharing, training, and improving safety standards to protect workers and foster a culture of safety excellence.A study facilitated by the Womens Safety Accelerator Fund (WSAF) on the Assam tea sector, launched alongside a handbook on addressing gender stereotypes, reveals the impact of gender-based violence on business outcomes through econometric analysis. The study highlights productivity and revenue losses, as well as additional costs tea estates face due to discrimination and violence against women workers, offering insights for tracking the return on investment in addressing these issues. The handbook, aimed at industry leaders, encourages awareness and reflection on unconscious biases from the boardroom to farms, fostering mindfulness and promoting gender equity across the value chain.As the summit concluded, participants committed to translating the summit's outcomes into actionable steps for businesses, governments, and civil society. IDH will continue driving sustainable trade by expanding the SUTRA 2.0 ecosystem to include more partnerships and projects that mainstream responsible sourcing practices across global value chains.For more information about the event, please visit: idhsutra.com/index.htmlAbout IDH IDH seeks to transform markets through collaborative innovation, convening and investment in inclusive and sustainable solutions that enable businesses to create value for people and planet. To achieve this, IDH brings together coalitions of committed stakeholders from across global value chains towards joint visions and program agendas for sustainable trade in key agricultural, manufacturing, apparel and commodity value chains. In 16 years of operation, IDH has mobilized private sector investment and support to test and innovate new business models designed to create better jobs, better incomes, a better environment, and gender equity for all. [ad_2] Source link

[socialenterprise23]

Agri-Finance: Bridging the Gap for Underserved Farming Communities

In India, agriculture is the backbone of rural livelihoods, contributing significantly to the country's economy and providing employment to a vast section of the population. However, many farming communities, particularly smallholder and marginal farmers, continue to face significant barriers to financial access, which impedes their growth and productivity. Agri-finance plays a crucial role in bridging this gap, offering vulnerable farming communities the resources they need to thrive while fostering sustainable livelihoods in India.

In this blog, we will explore the importance of agri-finance for vulnerable communities, its benefits, and how it contributes to the broader goal of building sustainable livelihoods.

The Need for Agri-Finance in Vulnerable Communities

Farming in India is often characterised by fragmented landholdings, unpredictable weather patterns, and fluctuating market conditions. For small and marginal farmers, who make up a substantial portion of the agricultural workforce, these challenges are compounded by limited access to formal financial services. Traditional banking systems often perceive these farmers as high-risk, leading to a reliance on informal lending mechanisms that can result in cycles of debt and poverty.

Agri-finance for vulnerable communities addresses these challenges by providing accessible, affordable financial solutions tailored to the needs of farmers. From crop loans to insurance schemes, agri-finance ensures that underserved farming communities have the financial support necessary to invest in quality inputs, adopt modern agricultural practices, and safeguard their livelihoods from unforeseen risks.

Promoting Sustainable Livelihoods in India

The concept of sustainable livelihood in India goes beyond the idea of mere survival; it encompasses long-term resilience, security, and the ability to prosper. Agri-finance plays a pivotal role in promoting this concept by empowering farmers to improve their agricultural productivity while safeguarding natural resources. By providing financial access, agri-finance enables farmers to invest in sustainable farming practices, such as organic farming, water conservation, and agroforestry, which contribute to both environmental sustainability and long-term economic stability.

Financial inclusion through agri-finance helps farmers diversify their income streams, allowing them to invest in supplementary activities like livestock rearing, poultry, or value-added agricultural products. This diversification reduces the reliance on a single crop or income source, making farming households more resilient to economic shocks, market volatility, and climatic uncertainties.

Key Benefits of Agri-Finance for Underserved Communities

Agri-finance for vulnerable communities offers a host of benefits that not only improve agricultural productivity but also contribute to building resilient, sustainable livelihoods. These benefits include:

1. Improved Access to Quality Inputs

Agri-finance enables smallholder farmers to purchase high-quality seeds, fertilisers, and equipment, which are essential for improving crop yields. With access to credit, farmers can invest in these inputs at the right time, ensuring they have what they need to increase productivity and harvest better-quality crops.

2. Adoption of Modern Agricultural Techniques

One of the primary challenges faced by small farmers is the lack of resources to adopt modern farming techniques. Agri-finance solutions provide the necessary funding for farmers to invest in technology-driven solutions such as drip irrigation, mechanised farming equipment, and climate-smart agricultural practices. These advancements not only improve efficiency but also enhance environmental sustainability.

3. Mitigating Risk Through Insurance

Farming is a high-risk occupation, with unpredictable factors such as weather conditions, pest infestations, and fluctuating market prices affecting farmers' income. Agri-finance often includes access to crop insurance, which helps farmers mitigate these risks. By providing a safety net, insurance products ensure that vulnerable farmers are protected against potential losses, allowing them to continue farming without fear of financial ruin.

4. Access to Better Markets

Agri-finance opens up opportunities for farmers to participate in more profitable market systems, bypassing middlemen and securing better prices for their produce. Financial resources enable farmers to invest in transport, storage, and marketing infrastructure, ensuring they can access markets that were previously out of reach. This, in turn, leads to higher incomes and improved livelihoods.

5. Encouraging Entrepreneurship in Agriculture

Financial inclusion fosters a sense of entrepreneurship among farming communities. With access to finance, farmers can expand their operations, explore new agricultural ventures, or move into agro-processing, which adds value to raw agricultural products. This entrepreneurial spirit contributes to job creation in rural areas, supporting sustainable livelihood in India by improving the socio-economic conditions of farming households.

Challenges in Scaling Agri-Finance

Despite the clear benefits of agri-finance, there remain challenges in scaling these solutions to reach all vulnerable farming communities in India. One major hurdle is the lack of financial literacy among smallholder farmers. Many farmers are unfamiliar with the formal financial system and may lack the knowledge required to navigate loan applications, insurance policies, and repayment terms.

Additionally, the geographical dispersion of rural communities poses logistical challenges for traditional financial institutions. Digital financial services have begun to address this issue, with mobile banking and fintech solutions offering more accessible and user-friendly platforms. However, more needs to be done to ensure that digital solutions are available in remote areas and that farmers are educated on their use.

The Role of Policy and Partnerships

Government policies and public-private partnerships play a critical role in enhancing the reach and impact of agri-finance. Initiatives such as the Pradhan Mantri Fasal Bima Yojana (PMFBY) and Kisan Credit Card (KCC) have made strides in increasing financial access for smallholder farmers. However, there is still room for improvement in policy implementation, particularly in ensuring that marginalised groups are not left behind.

Collaboration between governments, financial institutions, non-governmental organisations, and private sector entities is essential for creating an enabling environment for agri-finance. These partnerships can help develop innovative financial products, improve financial literacy, and expand outreach to underserved farming communities.

Agri-finance is an essential tool in bridging the gap between underserved farming communities and financial inclusion. By offering tailored financial solutions, agri-finance empowers vulnerable communities to improve their productivity, adopt sustainable practices, and build resilient livelihoods. As India strives towards a future of sustainable agricultural growth, ensuring that all farmers have access to the financial resources they need will be key to achieving this goal.

Agri-finance for vulnerable communities has the potential to create a lasting impact on rural development, promoting both economic security and environmental sustainability. The road ahead may be challenging, but with the right support, agri-finance can transform the lives of millions of farmers across the country, paving the way for a more prosperous and sustainable future.

[mordorintelligencemarketresearch]

The Growth of Africa’s Agricultural Machinery Industry: Driving Agricultural Productivity 

Africa's agricultural machinery market is poised for significant growth, with its market size estimated at USD 2.27 billion in 2024 and expected to reach USD 3.09 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.40% during the forecast period (2024-2029). This surge is driven by the growing need to modernize farming practices and enhance agricultural productivity across the continent. Agriculture remains the backbone of many African economies, contributing significantly to employment and GDP, and the demand for advanced machinery is increasing as farmers seek more efficient ways to cultivate crops and manage resources. 

Market Overview 

The agricultural machinery market in Africa is evolving rapidly, underpinned by a combination of factors like increasing mechanization, government support, and the rising adoption of modern technologies. Traditionally, agriculture in Africa has relied heavily on manual labor, but with increasing pressure to meet the food demands of a growing population, the need for mechanized solutions has become critical. 

Farmers are now seeking to adopt machinery such as tractors, combine harvesters, planters, and irrigation equipment. These machines not only reduce labor intensity but also significantly improve yields by ensuring timely planting, efficient harvesting, and better resource management. The market is also witnessing increased interest in precision agriculture technologies that integrate machinery with data analytics, drones, and GPS systems to optimize field operations. 

Key Drivers of Market Growth 

Government Initiatives: Several African governments have launched initiatives aimed at boosting agricultural productivity through mechanization. Subsidies, low-interest loans, and tax incentives for machinery imports are becoming common, providing farmers with the financial means to invest in modern equipment. 

Rising Population and Food Demand: The continent’s population is expected to reach 2.5 billion by 2050, leading to a substantial rise in food demand. This growth is putting pressure on African farmers to produce more food efficiently, driving the demand for agricultural machinery that can facilitate large-scale, high-yield farming practices. 

Technological Advancements: The introduction of innovative technologies, such as smart tractors, precision farming tools, and automated equipment, is helping farmers increase productivity. These technologies not only reduce operational costs but also enhance sustainability by minimizing wastage and optimizing resource use. 

Access to Finance: Improved access to finance through government programs and private sector partnerships is making it easier for small and medium-sized farmers to afford agricultural machinery. Microfinance institutions and agricultural banks are also offering specialized loans aimed at promoting mechanization. 

Challenges Facing the Market 

Despite the positive growth prospects, the African agricultural machinery market faces several challenges: 

High Initial Costs: The cost of purchasing agricultural machinery remains a significant barrier for many smallholder farmers. While government subsidies and financing options exist, they are not always accessible to everyone. 

Infrastructure Deficits: Poor infrastructure, including roads and electricity in rural areas, hampers the efficient use and maintenance of machinery. This makes it difficult for farmers to fully leverage mechanized equipment, particularly in remote regions. 

Limited Technical Know-How: The lack of technical skills required to operate and maintain agricultural machinery is another challenge. Many farmers are unfamiliar with advanced equipment, and access to training and support services is often limited. 

Climate Variability: Africa’s agriculture is highly dependent on rainfall, and the increasing unpredictability of weather patterns due to climate change poses a risk to agricultural investments, including machinery. Irrigation equipment and climate-resilient technologies will play a crucial role in mitigating these risks. 

Future Outlook 

The Africa agricultural machinery market is poised for significant growth in the coming years. With more governments focusing on agricultural mechanization as a strategy for food security and rural development, and the increasing penetration of global machinery brands into African markets, the industry is set to expand. Innovations in equipment tailored to the specific needs of African soils and climates are also expected to drive adoption. 

Moreover, as Africa continues to urbanize and industrialize, the trend towards commercial farming will intensify, further fueling the demand for advanced agricultural machinery. The growing focus on sustainability will also lead to increased demand for equipment that promotes eco-friendly farming practices, such as machines designed to optimize water use and reduce soil degradation. 

Conclusion 

The agricultural machinery market in Africa holds immense potential as the continent strives to modernize its farming practices. As mechanization continues to be a key driver of agricultural productivity, the market is set to play a critical role in Africa’s journey towards food security, economic development, and rural transformation. The future of agriculture in Africa is mechanized, and as the industry evolves, it will be instrumental in shaping the continent’s agricultural landscape. 

For a detailed overview and more insights, you can refer to the full market research report by Mordor Intelligence https://www.mordorintelligence.com/industry-reports/africa-agricultural-machinery-market   

[mordormr]

Understanding the Ethiopian Agriculture Industry: Insights and Trends

Introduction

The agriculture market in Ethiopia is projected to be valued at approximately USD 5.09 billion in 2024 and is expected to reach USD 6.65 billion by 2029. This reflects a compound annual growth rate (CAGR) of 5.5% during the forecast period from 2024 to 2029.

Ethiopia’s agriculture sector is a cornerstone of its economy, employing over 70% of the population and contributing significantly to the country's GDP. As of 2023, the agriculture market is undergoing a transformation, driven by modernization, investment, and favorable government policies. This blog explores key trends, opportunities, challenges, and the future outlook for the agricultural industry in Ethiopia.

Current Market Landscape

Key Statistics

Ethiopia's agricultural sector is primarily dominated by smallholder farmers, who account for about 95% of total agricultural production. In 2023, the sector contributed approximately 34% to the national GDP and is a vital source of export earnings, particularly through coffee, pulses, and oilseeds.

Key Trends Shaping the Agriculture Sector

Modernization and Technology Adoption The integration of technology in agriculture is gaining traction, with the adoption of precision farming techniques, drones, and mobile apps for monitoring crop health and weather patterns. Market research indicates that digital platforms are enhancing access to information and resources for farmers.

Investment in Infrastructure Significant investments in rural infrastructure, including roads, irrigation systems, and storage facilities, are improving market access and reducing post-harvest losses. The Ethiopian government, alongside international partners, is prioritizing infrastructure development to bolster agricultural productivity.

Sustainable Practices There is a growing emphasis on sustainable agricultural practices, including organic farming and agroecology. Farmers are increasingly adopting environmentally friendly methods to enhance soil health and reduce dependency on chemical fertilizers.

Value Chain Development Efforts to enhance value chains are underway, focusing on processing, packaging, and marketing of agricultural products. This shift is not only aimed at increasing the income of farmers but also at boosting the overall competitiveness of Ethiopian agricultural exports.

Access to Finance Innovative financing solutions, including microloans and agricultural cooperatives, are improving farmers' access to capital. Financial inclusion initiatives are helping smallholders invest in better seeds, equipment, and technologies.

Challenges Facing the Industry

Despite its potential, the Ethiopian agriculture sector faces several challenges:

Climate Change: Erratic weather patterns and prolonged droughts are impacting crop yields and food security. Farmers are increasingly vulnerable to climate-related shocks.

Land Degradation: Soil erosion, deforestation, and unsustainable farming practices are leading to land degradation, threatening long-term agricultural productivity.

Market Access: Smallholder farmers often struggle with limited access to markets, resulting in low prices for their produce. Improving supply chains and market linkages is essential for enhancing profitability.

Future Outlook

The future of Ethiopia’s agriculture industry is promising, driven by several factors:

Government Support: The Ethiopian government is committed to enhancing agricultural productivity through various policies and programs aimed at modernization and sustainability.

Investment Opportunities: With an increasing focus on agribusiness, there are ample opportunities for local and foreign investments in areas such as agro-processing, export logistics, and technology solutions.

Focus on Food Security: The emphasis on achieving food security and self-sufficiency will continue to drive innovations and improvements in the sector, aligning with global sustainable development goals.

Conclusion

Ethiopia’s agriculture industry is at a pivotal moment, balancing traditional practices with modernization and sustainability efforts. The potential for growth is vast, fueled by investments, technological advancements, and a commitment to improving the livelihoods of farmers. As the market continues to evolve, stakeholders must collaborate to address challenges and harness opportunities, ensuring a resilient and prosperous agricultural future for Ethiopia.

In summary, the Ethiopian agriculture sector is not just a vital component of the economy but also a crucial driver of social development. By focusing on innovation, sustainability, and inclusivity, Ethiopia can transform its agricultural landscape and secure a brighter future for its people.

[brandspurng]

Corporate News Nigeria Today - Navigating the Dynamic Business Landscape

The corporate environment in Nigeria is ever-evolving, reflecting the country's rapid economic growth and diversification. With a population of over 200 million people and a thriving entrepreneurial spirit, Nigeria stands as one of Africa's leading economies. Businesses in various sectors, from fintech to agriculture, are experiencing unprecedented growth, making it crucial to stay informed about corporate news in Nigeria today.

One of the most notable trends in corporate news Nigeria today is the rise of tech startups. Nigeria's tech ecosystem, often dubbed "Silicon Lagoon," has become a hub for innovation and investment. Lagos, the commercial capital, is home to numerous startups that are not only reshaping the local economy but also attracting significant foreign investment. Companies like Flutterwave, Paystack, and Andela have gained international recognition, highlighting Nigeria's potential in the global tech scene.

In addition to tech, the agricultural sector remains a cornerstone of Nigeria's economy. Corporate news Nigeria today frequently covers developments in agribusiness, as the government continues to implement policies aimed at boosting food production and reducing import dependence. Initiatives such as the Anchor Borrowers’ Programme (ABP) have empowered smallholder farmers, leading to increased productivity and profitability. The rise of agritech startups is also contributing to the sector's growth, with innovations in precision farming and supply chain management making significant impacts.

Another critical area in corporate news Nigeria today is the oil and gas industry. Despite global shifts towards renewable energy, oil and gas remain vital to Nigeria's economy, contributing a significant portion of the country's GDP and government revenue. Recent corporate developments include the ongoing implementation of the Petroleum Industry Act (PIA), which aims to overhaul the sector and attract more investment. The Act's focus on transparency, efficiency, and community engagement is expected to foster a more sustainable and prosperous oil and gas industry in Nigeria.

The banking and finance sector is also a frequent subject in corporate news Nigeria today. Nigerian banks continue to show resilience in the face of economic challenges, with many expanding their services to reach the unbanked population. The Central Bank of Nigeria (CBN) has been proactive in regulating the sector, introducing policies to enhance financial inclusion and stability. The rise of digital banking and fintech solutions is reshaping the way Nigerians access financial services, leading to greater convenience and efficiency.

Well, staying updated with corporate news Nigeria today is essential for anyone involved in the business landscape. From the booming tech sector to the resilient oil and gas industry, Nigeria's corporate environment is dynamic and full of opportunities. As the country continues to grow and diversify, keeping an eye on these developments will be crucial for businesses and investors alike.

[mariacallous]

Editor's Note: Below is a viewpoint from the Foresight Africa 2023 report, which explores top priorities for the region in the coming year. Read the full chapter on food security.

In Liberia, we hold one truth to be self-evident: If one has not eaten rice on any given day, then one has not eaten. Well, at least that is the conventional theory that has driven food policy and planning for the last 60 years.

Rice is Liberia’s staple food, and our contemporary history has been completely shaped by rice: Its availability on the local market, price, and, to a lesser extent, quality. Since 1979, when government plans to raise tariffs on imported rice caused deadly riots, and eventually a coup d’état, public policy has favored imports over locally produced rice.

Fast forward to 2022, and it’s 4Cs: COVID-19, Climate, Conflict, and Commodity price escalations. Four simultaneous and intensifying shocks, at a time when we have not fully recovered from the previous shock of Ebola.

And here is another incontrovertible truth: Liberians’ dogged reliance on imported food is not sustainable. The looming food security crisis is an opportunity to finally tackle rice availability on three main fronts: Boosting smallholder production; taking agribusiness micro, small, and medium-sized enterprises (MSMEs) to scale; and attracting commercial agri-food enterprises.

Since we have ostensibly been doing just these things for years, now is the time to innovate the “how” of agri-food production. The “innovation” is simple: Enhance what is working, what is familiar and help farmers and businesses to produce more, faster, cheaper—and get surpluses to market. The technologies exist to do this.

Take rice. President Weah has set up a National Rice Stabilization Task Force to ensure constant availability of rice in our markets. We have set a national goal to grow 75 percent of what we consume in four cropping seasons: A 150 percent increase in production over what we are doing now.

In setting these targets, we considered the production realities of our smallholders. Realizing the adoption of yield improving technologies has been poor, and rarely sustained past project-end, we are resolving some of the challenges brought on by limited capital and labor for any given piece of land: Improving weed and pest management on farms; post-harvest processing capacities at village level (to optimize use); and access to markets and digital buying platforms. Couple these with solutions that enhance food and nutrition security, water, and energy at community level.

We work with MSMEs along the value chain to grow or build and service and maintain the seeds, tools, and equipment needed to produce, package, transport, and market rice to urban consumers. The Liberia Agricultural Commercialization Fund is providing critical financing to innovations that service food markets and helping rice processors to scale up operations.

We are building our knowledge base and creating business profiles to attract private investments.

The global food security crisis compels Liberia to draw on its legendary resilience and creativity. We are intentional about getting rice right. And we will.