JOHANNESBURG - The Fund for African Private Sector Assistance (FAPA), donors and the African Fertilizer and Agribusiness Partnership have signed a US$1 million agreement to make fertiliser available to smallholder farmers on the continent.
The agreement, signed on the sidelines of the African Development Bank's annual meetings in Busan, South Korea, will help increase affordability, accessibility and incentives for fertilizer use among smallholder farmers in Africa.
It is also intended to create over 1,000 jobs for women and youth.
“This project is very much in line with the Feed Africa strategy of the African Development Bank," said the bank's vice-president for agriculture, human and social development Jennifer Blanke.
"It will promote greater local supply of fertilizer to farmers thereby increasing productivity, which is central to the transformation of value chains."
The initiative complements the bank’s strategy for transforming agriculture value chains in member countries and strengthening private enterprises.
It also helps improve access to finance for blending companies and joint ventures in the agriculture sector.
It will enhance distribution through agriculture input systems with agro-dealer networks in Côte d’Ivoire, Ghana, Nigeria, Mozambique and Tanzania.