Mozambique received a $2 Million Fertilizer Financing Project Blastoff by the Africa Fertilizer Financing Mechanism with the African Fertilizer and Agribusiness Partnership (AFAP)

By Abdul Rahman Bangura-

Rice production by Women of the Diguifa Group
Photo Credit: Scidev.net

NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- …named as the Fertilizer Financing for Sustainable Agriculture Management in Mozambique, strives to upgrade entry to fertilizer for 300,000 smallholder agriculturalist and improve their productivity
and wealth, in the subsequent years.

AFAP will influence the Mechanism’s $2 million partial trade credit warranty to fit out warranties to 5 fertilizer suppliers for the delivery, on credit, of 60,000 tons of fertilizer to smallholder growers, through 30 hub agro-dealers, and 125 retail agro-dealers. This alliance will decrease the threats that suppliers encounter delivering fertilizers in Tete, Manica, Nampula, Zambezia, Sofala and Gaza regions.

The project correspondingly incorporates a $877,980 grant for soil health activities and training for smallholder growers. Thus, punctual economic backing , Mozambican growers can look forward to a more productive planting season. 95 percent of the nation’s agricultural production arrives from smallholder farmers, while the remaining 5 percent moves toward from commercial farmers.

Mozambique produces sugar, soybeans, bananas, rice, vegetables, nuts, cotton and tobacco. This new financing will particularly help the cultivation of rice, maize, and soybeans.

This liftoff pursues the African Union’s African Fertilizer and Soil Health Summit, carried in Nairobi, Kenya, from 7th to 9th May 2024. During the Summit, African heads of State earmarked to subsidizing the maximum operationalization of the Africa Fertilizer Financing Mechanism.

The Africa Fertilizer Financing Mechanism is a unique fund allocated by the African Development Bank Group. The Mechanism delivers innovative financing solutions mandated to rev the usage of fertilizers in Africa and make better agrarian productivity in the Africa Landmass.

For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent