AFDB apportioned the funding to the African Fertilizer Financing Mechanism (AFFM). Established in 2006, the Africa Fertilizer Financing Mechanism seeks to enhance pan-African agricultural productivity by promoting using fertilizers. The AFFM works multilaterally, focusing on the critical transnational factors impeding fertilizer use to develop comprehensive strategies for jump-starting Africa’s stagnant agricultural productivity.
By facilitating access to fertilizers, the AfDB aims to boost agricultural productivity, enhance soil fertility, and increase farmers’ incomes, ultimately contributing to poverty reduction and economic development in rural communities. The initiative aligns with the Bank’s overarching goals of promoting inclusive growth, improving livelihoods, and achieving food self-sufficiency in Africa.
Visa has launched its first data centre in Africa, selecting Johannesburg, South Africa, as the location.
PlayAI, a voice technology company founded by Egyptians Mahmoud Felfel and Hammad Syed, has been acquired by Meta, according to an announcement by global venture capital firm 500 Global.
Ethiopia has launched its first locally issued credit card, marking a key step toward digital transformation in its financial services.
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