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.
Global banking technology company Velmie has supported the launch of Vult, Sierra Leone’s first digital banking super app, to help expand access to financial services in the country.
Huawei South Africa has unveiled a cutting-edge smart warehouse in Johannesburg, marking a major development in the region’s logistics landscape.
LOXEA Nigeria, part of the CFAO Mobility group, has officially launched BYD (Build Your Dreams) electric vehicles in the Nigerian market, marking a major milestone in the country’s transition towards cleaner mobility.
© 2021 Empower Africa. All rights reserved.