Agriculture Can Help Solve Nigeria’s Dwindling Economy- Former Commissioner

Dr. Olabode Adetoyi, a former commissioner for agriculture and food security in the state of Ekiti, has claimed that agriculture can save Nigeria’s faltering economy.

Speaking to several cooperative farmers of cassava who had visited his farm in Ekiti State yesterday, he said this.

Adetoyi, an investor in agribusiness that includes feed additives, animal feed milling, and crops, emphasized that both the federal and state governments could capitalize on the agricultural revolution by enticing the throngs of young people.

He pointed out that young people make up 60% of Nigeria’s population, thus by establishing agricultural processing zones and assisting the African Development Bank’s programs, their potential might be fully realized.

The former commissioner pointed out the benefits of cassava farms and noted that the crop can be cultivated in almost all of Nigeria’s states and that the country still produces 59 million metric tonnes of it annually.

He claims that we can produce ethanol, cassava flour, and other by-products that have a significant positive impact on the economy of the nation.

“Nigeria’s economy is dwindling and agriculture should be used to rescue the situation.

“We can rescue the situation when both Federal and State Governments key into the Agricultural revolution by making agriculture attractive to our teeming youth.

“60 percent of the Nigerian population is made up of our teeming youth. How can we harness their potential?

“Both states and federal can do this by creating Agric processing zones and supporting the initiative of the African Development Bank.

“This is the only way to key into the Agric value chain. This is a cassava farm. Cassava is very good in Nigeria and it can be grown in nearly all the states in Nigeria.

“Nigeria still produces 59 million metric tonnes of cassava. From cassava, we can have cassava flour which 10 percent will be added to our flour to make bread which will reduce our importation of wheat.

“Also, we can also get by-products such as starch, Garri, Fufu, ethanol, cassava chips, and cassava flour from cassava,” Adetoyi said


Cassava Bio-Ethanol: FG targets N180 billion revenue in 5 years

The concessioning of the cassava bio-ethanol value chain by the Federal Government of Nigeria is expected to generate N180 billion in income within five years of active operation.

Infrastructure Concession and Regulatory Commission (ICRC) states that the FEC’s approval of the project last Wednesday showed that it also aimed to partner with national agricultural research institutions and provide jobs, reduce poverty, improve food security, and provide renewable energy.

It went on to say that the Executive Council had approved the National Fire Detection and Alarm System (NAFDAS) for use in the country as a whole for the efficient prevention, detection, and management of fires.

The two initiatives, which fall under the ICRC’s regulatory supervision, aim to generate N180 billion in revenue, among other things.

While the NAFDAS project will earn N75 billion in total revenue over the course of its 15-year concession, the Cassava Bio-ethanol Value Chain will do so during the course of its five-year concession.

It was made clear that the Cassava Bio-Ethanol Value Chain, which will be implemented in a pilot phase, intends to create a Bio-technology Industrial Park on a 20-hectare plot spanning 20 universities, academic institutions, and research and development organizations.

“The pilot phase, 5,000 special hybrid cassava (TME 419) stems will be planted per hectare, (100,000 stems for 20 hectares),” the statement continued. The initiative will also provide knapsack sprayers, pre- and post-emergent herbicides, pesticides, insecticides, fungicides, and organic fertilizers, boosters, and conditions.

With improved tropical agro-ecology, biotechnology, intense mechanization, and efficient resource mobilization partnerships, Nigeria can double output to 120 million metric tons in 5 years. The project also aims to increase cassava production from the current 62 million tons to over 120 million tons.

This cassava-bioethanol pilot project’s main objective is to illustrate the effectiveness of a private sector-led strategy for encouraging investment in renewable biomass and generating wealth, jobs, and reducing poverty while also enhancing food security and nutrition, supplying renewable energy, and lowering carbon footprint.

The Federal Government is proposing to fund the project with a grant, and concessionaires are proposing to invest N11.9 billion in the project. Sales of cassava stem, cassava flour, garri, starch, and bioethanol are all included in the project’s proposed revenue stream.

The five-year concession period will bring in a total of N105,610,000,000.

The NAFDAS project seeks to deliver technology, software, and equipment for fire mitigation that will be connected to a cloud network under the supervision of the Federal Fire Service via a private organization.

This technology will greatly cut the call and response times for fire events, prevent needless occurrences, save more lives and property, and generally increase the effectiveness of fire prevention, detection, and management.

This entails connecting smoke alarms and other fire detection hardware to a server, which will notify the system when a user is in trouble without requiring them to call for assistance.
Before expanding to all other states in the nation, the project will start as a pilot with 7 of the federation’s states.

The project’s total estimated cost is N3.5 billion, but the government expects to make N75 billion in revenue during the course of the concession’s 15-year term.

40% of the subscription revenue totaling N17,262,850,871 (or an average of N1,150,856,724, for the 15-year proposed concession period) was estimated to go to the government.

The project’s proposed income stream includes annual subscription fees from service customers and margin on installations.

Both projects are to be carried out in accordance with ICRC regulations, with revenue being split between the Federal Government and the concessionaire in accordance with the concession agreement.


Rice Production: Bühler and Nigeria collaborate to enhance production and food security

Bühler and the Nigerian government are working together on a project to increase rice production all across the nation. The initiative, which involves both the state and federal governments, was started in 2017 with an agreement for the purchase of a rice mill in Imota. Both levels of government have realized the value of increasing the independence and security of their food supply.

In order to boost the nation’s rice production, Bühler has partnered with the Nigerian government. A project that was started in 2017 comprises the purchase of eight smaller mills supported by the federal government, as well as a rice mill in Imota. One of the eight mills is now operational. The federal and state governments of Nigeria understand the significance of increasing the nation’s food supply’s security and self-sufficiency.

The rice industry is important to Nigeria’s efforts to improve food security, and the government’s current push to invest in rice mills across the country is supported by products from Bühler Nigeria. Since it first arrived in Nigeria more than 50 years ago, the multinational Swiss family business has made a name for itself as the country’s primary source of technology for raising rice production and processing to worldwide standards.

The National Rice Development Strategy-II (2020-2030) and the Competitive African Rice Initiative were launched by the federal government in December 2013 in order to guarantee surplus rice production for export, food security, and employment creation. The government’s objectives of self-sufficiency in rice production, food and nutrition security, employment creation, and production of surplus for export are all being met under the NRDS-II, a ten-year plan for the growth of the rice industry.

The completely automated Imota rice mill, which was opened in January of this year by Muhammadu Buhari, president of the Federal Republic of Nigeria, serves as an example of the collaboration with Bühler. According to Iyore Amadasun, Sales & Channel Business Manager for Bühler Nigeria, the rice business in the nation is going to undergo a revolution thanks to what is reportedly the largest rice manufacturing facility in sub-Saharan Africa, with an annual production of roughly 2.5 million 50 kilogram bags. When operating at full capacity, it will lower rice prices, boost domestic production, and ultimately improve Nigeria’s trade balance.

By 2050, Nigeria, which currently has the sixth-largest population in the world, is expected to overtake the United States and rank among the top three nations. Accordingly, the current 216 million population is projected to grow to 401 million by 2050 and reach a peak of 732 million by 2100. The Nigerian government faces a challenge in feeding this expanding population in a sustainable and effective manner, and Bühler is dedicated to helping the country achieve food independence by offering dependable food processing technologies.

Bühler Nigeria can build a more sustainable future for everyone by making investments in new technologies, collaborations, innovation, and education. Industry and the government have clearly accepted full responsibility as evidenced by the strong resonance and favorable comments received.

Six-year fertilizer strategic plan of the AfDB to benefit Nigeria and other African nations.

The African Development Bank (AfDB) has declared that it is dedicated to raising money to enhance the availability and proper use of fertilizer across the continent as part of its Africa Fertilizer Financing Mechanism (AFFM) strategy plan 2022–2028.

The decision is wise, especially at a time when Small Holder Farmers (SHFs) are struggling with high input costs due to the ongoing conflict between Russia and Ukraine.

The AFFM strategic plan 2022–2028 gives increasing access to financing a high priority through financial investments and policy changes, while technical help will also be given to improve smallholder farmers’ access to adequate fertilizer.

This was the main topic of discussion during a hybrid meeting held at the bank’s headquarters in Abidjan with 11 institutional members of the AFFM’s governing council.

They included the African Union Commission, the African Export and Import Bank, the International Fertilizer Development Center, the Alliance for a Green Revolution in Africa, the International Fertilizer Association, the Norwegian Agency for Development Cooperation, the Pan African Farmers Organization, Zimbabwe’s Ministry of Agriculture, the AfDB, and the AFFM Secretariat.

However, the council members commended the AFFM for completing trade credit guarantee initiatives effectively in Nigeria, Tanzania, Ghana, and Côte d’Ivoire.

Beth Dunford, vice president of the AfDB for agriculture, human development, and social development, stated that the AFFM is one of the crucial tools for fulfilling the goals of the Bank’s Feed Africa Strategy.

“It is no surprise that AFFM has been instrumental in supporting the implementation of the bank’s African Emergency Food Production Facility. I’m proud to say that the bank has mobilised our agriculture expertise to roll out facility programs in 24 African countries,” Dunford said.

Through the end of 2022, trade credit guarantees totaling $8.8 million offered 5.3 times the leverage and allowed 690,896 smallholder farmers in the four nations to receive 112,268 tonnes of fertilizer. Under these projects, 138 businesses, including fertilizer suppliers, hub-agro dealers and aggregators, 20,987 smallholder farmers, and 97 small and medium-sized businesses gained access to financing and capacity building.

The AFFM has created a pipeline of projects to be implemented in 2023 in order to ramp up its investments in trade credit guarantee. Mozambique, Zimbabwe, Uganda, Kenya, and Tanzania will all receive them.

The work program and budget for 2023, as well as the AFFM annual report for 2022, have received council approval.

Amb. Josefa Sacko, African Union Commissioner for Agriculture, Rural Development, Blue Economy, and Sustainable Environment and chair of the AFFM Governing Council, stated that AFFM must be strengthened to support the implementation of decisions that would emerge from the summit prior to the 2023 Africa Fertilizer and Soil Health Summit (AFSH), scheduled for June and July 2023 in Dakar, Senegal.

Amb. Sacko was represented by Ms. Janet Ademe, Director of the African Union Commission’s Rural Development Division.

The transformation of African agriculture depends on procedures for the sustainable production, distribution, use, and management of fertilizers and soil health. All of these require the AFFM to carry out its responsibility to provide suitable financing mechanisms, allowing the private sector to invest and allowing our farmers access to and proper use of this crucial input in African agriculture.

Palm Oil: Experts seek increased investment to stop importation

To accelerate the growth and development of the sector, agricultural experts have recommended for increased investment in the production of oil palm.

On Tuesday in Lagos, they each stated this in separate interviews with the News Agency of Nigeria.

They experts remarked in light of a report that Nigeria bought palm oil worth N299.6 billion from 2017 to 2022, according to a report that was published last week.

According to the newspaper, which used quarterly figures from the National Bureau of Statistics, “Palm Crude Oil” is frequently among the top five agricultural imports into the nation.

The National Agriculture and Extension Research Liaison Service fellow Prof. Adetunji Iyiola called the importation of oil palm by an agrarian nation like Nigeria an anomaly.

Iyiola stated that specialists must create fresh plans to increase domestic oil palm production in the nation.

“The strategy to boost the oil palm sector is to go back to the basics.

“What we need is to make a new habit of investing in oil palm production in Nigeria. It is a very lucrative business.

“We should also invest more in the local processing of oil palm.

“Within the space of four to five years, an investment in oil palm would have begun yielding returns; therefore, we need to go back to the basics.

“We have money bags that should invest in the sector, we should see cultivating oil palm as a long-term investment and should include the entire value chain from production, to processing and export.

“We should not import palm oil as a nation, we have a very fertile land for oil palm production from Benin to Osun to Ondo we have good palm that can grow well,” Iyiola stated.

He asserts that all of the South-South states of the nation are suitable for the growth and maintenance of oil palm.

He urged the government to make investments in oil palm cultivation and agricultural extension.

“The farmers need to be equipped with information on oil cultivation to boost local production.

“Government should also aid the local processing of oil palm, the entire value chain should be boosted for the funds we waste in palm oil importation to be invested back into the economy,’’ he said.

Co-founder of Corporate Farmers International Mr. Akin Alabi said more work needed to be put into growing, processing, and marketing the vegetables.

Alabi stated that in order to expand the industry, the nation must address the problems associated with the manufacturing and processing of the commodity.

Cashew Export: Nigeria Targets $500 million Revenue In 2023

The Nigerian Export Promotion Council, NEPC, has reaffirmed its dedication to boosting cashew export revenues from 252 million to 500 million in 2023.

This was said on Thursday at the launch of the organic cashew certification program in Nigeria for export by the Executive Director/CEO of NEPC, Dr. Ezra Yakusak.

By assisting the Nigerian cashew industry, the five-year program with NEPC, Nicert, Valency Limited, and PRO-Cashew aims to boost growth in the non-oil export sector.

He said that the effort will help people gradually switch over to organic cashews, whose export ensures a specialized market and higher prices.

Yakusak stated that the project’s objectives are to promote the Nigerian cashew industry, boost cashew productivity and efficiency, enhance crop quality, and enhance harvest and post-harvest practices.

Yakusak stated that value-adding was required despite the fact that Nigeria exported 315,677 metric tonnes of raw cashew nuts worth 252 million dollars in 2022, making up 5.24 percent of Nigeria’s non-oil export portfolio.

“In 2022, our non-oil performance export performance indicated that cashew was the 5th leading non–oil exportable product in Nigeria.

“We felt that we need to encourage this product and ensure that the potential from cashew is better harnessed.

“We exported cashew worth about 252 million dollars in 2022 and with the launch of the project we hope to double it this year,’’ Yakusak said.

Despite being the fifth-largest non-oil exportable good in Nigeria in 2022, he voiced concern that the entire economic potential inherent in cashew export had not been fully realized.

The project, according to Yakusak, will solve problems affecting the Nigerian cashew industry.

He said that a number of factors, including poor practices, ageing trees, lack of traceability, low yield per hectare, and non-compliance with food safety requirements, were major hindrances to Nigeria’s cashew export industry.

Choosing organic farming practices will allow Nigeria to lessen its dependency on poisonous and damaging chemicals, according to Annabel Kamuche, the Group Managing Director of Nicert, a private organization that provides international certification for export products.

In addition to fostering soil health, Kamuche claimed that Nigeria might also build a stronger and more resilient food system.

“As we continue to face challenges related to climate change and environmental degradation, it is critical that we adopt sustainable practices that minimise harm to the planet and support local communities.

“It is thing of pride for Nigeria that it has started making mark in the usage of organic products where apart from cashew, crops like turmeric, honey sesame, soybean, hibiscus are gaining substantial grounds.

“Nicert is confident that in the coming years, Nigeria will be among the front runners in the global organic sector with more value chains participating in organic agriculture,’’ Kamuche stated.

Morocco's carrot exports

Morocco’s carrot exports primarily go to Sub-Saharan Africa.

According to the website EastFruit, which focuses on agriculture, Sub-Saharan Africa is one of Morocco’s main export markets for carrots.

According to data from EastFruit, Morocco has boosted its exports of carrots by 46% yearly since 2017.

Rabat – Sub-Saharan Africa is a key destination for Morocco’s carrots exports, according to agriculture-focused website EastFruit.

Data from EastFruit said Morocco’s carrots exports increased by 46% annually since 2017.

“By 2022 [carrots’ exports] reached a record 43000 tonnes,” the data shows, suggesting that Sub-Saharan Africa remains the main recipient of Moroccan carrots.

Morocco’s carrots target sub-Saharan markets, with exports to the EU “remaining minor” and “declining.”

“Exports to the EU reached their peak of 1400 tonnes in 2020, but two years later, only 730 tonnes of carrots were exported to the EU from Morocco,” EastFruit stated.

Morocco’s main export destinations for carrots include, among others, Mauritania, Senegal, Mali, and Burkina Faso.

Many Sahel-region countries were obliged to boost their agricultural imports, particularly carrots, as a result of climate issues such as delayed rainfall.

Mauritania, which increased its imports of carrots and onions from various nations, is among the countries to which Morocco is a major exporter of agricultural products in the region.

Many people, particularly people impacted by rising food costs, expressed worry over Morocco’s exports of vegetables and fruits, stating that meeting domestic need should come before exporting to other nations.

According to recent data from FreshPlaza, Morocco’s exports of fruits and vegetables increased by 13% from the previous season to the 2021–2022.

Those who continue to be harmed by inflation, which has reduced their purchasing power and made numerous necessities out of their price range, became irate at the situation.

Prices for tomatoes, potatoes, and onions have many people worried despite government promises to address the issue. In order to alleviate the domestic demand that is driving up costs, officials have promised to reduce exports.

Concerning pressure was also put on the domestic market by exports.

The deputy managing director of Moroccan fresh produce exporter Delassus Group, Fatiha Charrat, stated that some food items, such as tomatoes, will constantly be in low supply due to a variety of circumstances, including environmental concerns.

She informed FreshPlaza that Moroccan tomato shortages will last until mid-May and that exports might possibly be a contributing cause.

“Tomatoes accounted for 50% of Morocco’s fresh produce exports,” she said.

UK horticulture market: NEPC trains 150 horticulture farmers, entrepreneurs

No less than 150 vegetable farmers and business owners involved in the horticulture value chain have received training from the Nigerian Export Promotion Council (NEPC) Ogun State Coordination Office on the rules and processes for exporting horticultural products to the United Kingdom.

The NEPC collaborated with the Ogun State Cooperative Federation to host the one-day course with the theme “Harnessing Horticultural Market Possibilities in the UK: Through Quality Regulation” (OGSCOFED).

The State Coordinator of the NEPC, Mrs. Francisca Odega, stated during the opening session of the training that the main goal of the workshop was to expose the farmers and entrepreneurs in horticulture to the current market demands and quality requirements for horticultural produce in the UK, among other things. The training was held at the OGSCOFED Hall, Asero, Abeokuta, the capital of Ogun State.

She continued by saying that another goal of the initiative was to raise awareness of the high standard that Nigerian horticulture products meet on a global scale.

Mrs. Odega pointed out that Nigeria was missing out on the multibillion dollar market for fruits and vegetables in the UK, Europe, and America; as a result, it was necessary to inform the sector’s stakeholders about the enormous commercial potential.

She stated that pre-shipment inspection agencies found a significant increase in export proceeds from 2017 to 2021, from $1.2 billion to $3.4 billion, compared to an average annual importation of $22 billion of food into the nation. She made the point that the country must work to close the deficit by utilizing the new dimension in export business, particularly in horticulture.

She stated that in order to compete with their counterparts in Cote D’Ivoire, Ghana, Cameron, and Kenya in the export of vegetables and fruits, farmers and exporters of horticultural products in the nation, particularly in Ogun State, needed training and experience.

She did say, however, that buyers of the produce had been found in the UK, in addition to the incentives the NEPC had put together to encourage and motivate exporters of fruits and vegetables in the nation.

Dr. (Mrs.) Badmus, a resource person from NIHORT, noted in her presentation titled “Good Agricultural Practice (GAP) for Harnessing Horticulture Market Opportunities Through Quality Regulation” that Nigerian farmers had suffered greatly when exporting their goods, and she added that the safety and quality of horticultural produce must meet with the international standard and procedures.

She listed several difficulties with horticultural production in Nigeria, including weak regulatory oversight, vulnerability to pests and diseases, and post-harvest losses.

Kwara and IsDB establish agro-industrial processing zone

The Kwara state governor, AbdulRazaq stated that by working together, an agro-industrial processing zone would be created, inspiring other states to enhance and diversify their agricultural output.

At the first IsDB oversight tour to Kwara for the start of the Special Agro-industrial Processing Zone (SAPZ) Project, he made this disclosure on Tuesday in Ilorin.

AbdulRazaq underlined the commitment of the government to revolutionize agriculture and combat poverty by increasing food production, capacity, and efficiency, which was made possible by the state commissioner for agriculture and rural development, Mr. Abdullateef Alakawa.

In order to launch the unique livestock agro-industrial cluster with a focus on “dairy production and processing” in the state, the governor announced that his administration had signed a Legal Opinion and Subsidiary Loan Agreement with the International Sustainable Development Bank (IsDB).

The state government and the development bank, according to him, would provide total funding for the project.

AbdulRazaq listed the several benefits the SAPZ project would provide the state and added that it had been pronounced disbursement effective.

“The hub will go a long way in reducing the imports of dairy products by improving milk production, milk wastages and contamination.

“It will also improve dairy breeds, production methods, transform the overall milk value chain, the economies and livelihood of livestock farmers as well as people of Kwara state,” he said.

The governor stated that the Special Agro-Processing and Commercialization Center was anticipated to improve conditions for farmers and the general populace as the state began working in tandem with IsDB and other stakeholders to transform rural economies into viable and sustainable commercial cities.

The IsDB Operation Team Leader, Mr. Javed Khan, praised the government’s efforts in making sure the project got to the start stage.

Khan praised the agro-industrial processing hub as a noteworthy accomplishment and a singular model in national history.

According to him, the state government’s commitment and willingness to carry out the project were demonstrated by the signing of the subsidiary loan agreement with IsDB.

Khan praised the state government for putting out skilled candidates to lead the project, noting that it will take between four and five years to complete.

Furthermore, according to Dr. Busari Isiaka, the State Coordinator for Kwara-SAPZ, the projects’ six main components are infrastructure development, management of agro-industrial hubs, agricultural productivity and production, consulting services, project coordination and management, financial audit, and contingency emergency response.

According to Isiaka, the government has put in place the necessary machinery to launch the SAPZ project and carry it out effectively. He also noted that Kwara is leading the way among the participating states in the nation.

He said that the inspection team took advantage of the opportunity to assess the project’s activities, components, and procurement and payout processes.

According to the News Agency of Nigeria (NAN), the team led a session on reviewing the project’s components and activities, as well as its procurement and disbursement procedures, for the project implementation unit’s members.


African Agri-tech sector get $4.5m investment from ABC Fund

Africa’s agri-tech sector has received a sizable investment from the Agri-Business Capital Fund (“ABC Fund”), amounting to €4.21 million (about $4.5 million). Together with a microfinance organization established in Nigeria, it has funded food production companies in Benin, Mali, and Uganda.

Injaro Investments’ CEO, Jerry Parkes, said,“We are proud to support smallholder farmers in Benin, Mali, Uganda, and Nigeria through these investments. This financing is vital to support the growth of these companies and to make their affiliated smallholder farmers more sustainable and efficient.”

The managing partner and founder of Bamboo Capital Partners, Jean-Philippe de Schrevel added,  “The ABC Fund is fulfilling its mission to support smallholder farmers across sub-Saharan Africa with a series of new investments. These loans will help local farmers and processors increase their production and revenue, ultimately catalysing further economic growth and impact.”

  • The ABC Fund has given ANI, a raw cashew nut processor in Benin, a loan of €800,000 so that it can expand its business and buy more raw cashew nuts. By the end of 2023, ANI hopes to obtain the BIO certification after collaborating with the Fédération Nationale des Producteurs d’Anacarde du Bénin to source from 40 000 smallholder farmers. With this accreditation, ANI would be able to charge more for organic kernels.
  • The ABC Fund also provided a loan of €800 000 to Promo Fruits (PF), a significant producer of pineapple juice in Benin, to help with its working capital requirements. The funds will be used by the company to import raw materials for the production of juice cans and to buy tools for the construction of polytunnels for smallholder farmers. The output capacity and income of 750 farmers are anticipated to increase thanks to this equipment.
  • Groupe Diakhate, a Mali-based producer of chicken feed, has been given a loan from the ABC Fund in the amount of €450 000 to buy feed raw materials, buy new, contemporary, and effective equipment, and start a program to provide fertilizer and seeds to smallholder farmers. With the investment, Groupe Diakhate will be better able to interact with the farmer cooperatives that collectively represent 250 farmers and be more active in the production process.
  • Uganda-based Matale Hill Brothers Ltd (MHB), a business that engages in coffee secondary processing, has acquired a credit line from the ABC Fund for $257 200 to cover its working capital requirements. With the money, they will buy coffee from Ugandan smallholder farmers and gradually expand their network of cooperating farmers from 250 to twice that amount.
  • The ABC Fund provided a $2 million credit line to Grace & Mercy, a Nigerian non-bank microfinance organization. The company will use the cash to create a legitimate agricultural finance product that would aid economically underprivileged women who are involved in small-scale business and micro-production. Almost 4,000 agricultural loans are anticipated to be made available by the business per funding cycle thanks to the ABC Fund loan.

In addition to the fresh investments, the ABC Fund has given some of its investors follow-on financing. A second loan of €1 million was given to Anatrans, a company that processes raw cashew nuts, for working capital. Two cocoa cooperatives in Côte d’Ivoire, Socak Katana and Ecookim, extended their funding with the ABC Fund.

Around 470 000 smallholder farmers have benefited from the ABC Fund’s €45 million investments in 32 agribusinesses in 14 sub-Saharan African nations as of December last year.