• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Monday, September 8, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home News

AfDB approves $150m to support agriculture value-chain

The Matters Press by The Matters Press
November 14, 2021
Reading Time: 2 mins read
0
Vulnerable Nigerian farmers to get $1m grant

RELATED POSTS

‎Tinubu’s export ban on raw shea nuts will position Nigeria for $3bn annual revenue-TSF

‎IMF, IFC commendation for Nigeria’s economic recovery, evidence of success of Tinubu’s economic reforms – TDF

‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals

The African Development Bank (AfDB) has approved 150 million dollars to support ETC Group’s trade and agriculture value-chain development in Africa.

Mr Amba Mpoke-Bigg, Head, AfDB Communication and External Relations Department made the disclosure in a statement on Saturday, in Abuja.

Mpoke-Bigg said that AfDB’s board of directors had approved 150 million dollars facility to ETC Group Ltd., to address the company’s working capital requirements and support its food production expansion plans across 10 countries in Africa.

According to him, this will be a boost for smallholder farmers.
He said that the investment would be a trade and agri-finance package, comprising 75 million dollars soft commodity finance facility to support the group’s pre and post shipment working capital requirements, with a particular focus on export-oriented activities.

”It also includes a 75 million dollars agriculture value-chain programme to increase agriculture production and productivity, by providing improved agricultural inputs and agronomic advisory services to local farmers,” he said

Mpoke-Bigg said that ETC was a pan-African agriculture conglomerate with footprint expanding across Sub-Saharan Africa, North America, Europe, Middle East and Southeast Asia, trading millions of tons in soft commodities.

He noted that the ultimate beneficiaries of this intervention would include small holder farmers, significant number being women and youth entrepreneurs across 10 African countries, whose productivity was expected to increase from deployment of high-quality agricultural inputs.

On loan, Dr Beth Dunford, AfDB Vice President, Agriculture, Human and Social Development said that working with an African agro-champion like ETC was critical toward achieving the bank’s developmental goal.

Dunford said that the goal was to support millions of small holder farmers across the continent, contribute to increased agriculture production and food security in the process.

Also, Mr Solomon Quaynor, Vice President, Private Sector, Infrastructure and Industrialisation said that “the Bank’s investment into ETC Group would go a long way in contributing to food import substitution.

Quaynor said that this would be done by allowing ETC to process and package agricultural products locally while increasing value-addition of export-oriented products.

Tags: Agriculture
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Nigeria targets $1.2bn export capacity for every state
Economy/Technology

‎Tinubu’s export ban on raw shea nuts will position Nigeria for $3bn annual revenue-TSF

September 2, 2025
Nigerians to own brand new vehicles, goods through new credit scheme initiative
Economy/Technology

‎IMF, IFC commendation for Nigeria’s economic recovery, evidence of success of Tinubu’s economic reforms – TDF

September 2, 2025
Nigeria regains top crude oil production spot in Africa
Energy

‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals

August 28, 2025
Who is lying, Obasanjo or NAN?
News

‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient

August 28, 2025
Obasanjo campaigns for AfCFTA
News

Tinubu succeeding where Obasanjo failed woefully, says TMSG

August 28, 2025
Tinubu explains mission as he marks second year in office
Economy/Technology

‎Tinubu in fresh ideas to grassroots-development using 8,809 wards initiative – TMSG ‎

August 9, 2025
Next Post
Increasing food production excites Uganda

Farmers support CBN’s loan recovery initiative

Deep blue project excites LCCI

Deep blue project excites LCCI

Recommended Stories

Oando vows to challenge SEC’s ruling on audit

Shareholders reinforce confidence in Oando management

August 11, 2022
A transformed fertilizer market is needed in response to the food crisis in Africa

North East governors resolve to boost irrigation farming

November 26, 2023
Veritas Kapital’s total assets hit N21.4bn

NCAA demands compliance with insurance cover regulations

August 14, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • ‎Tinubu’s export ban on raw shea nuts will position Nigeria for $3bn annual revenue-TSF
  • ‎IMF, IFC commendation for Nigeria’s economic recovery, evidence of success of Tinubu’s economic reforms – TDF
  • ‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us