Connect with us

News

Agri-tech can turn African Savannah into global food basket – African Development Bank

Published

on

The African Development Bank (AfDB) is championing a new regional and global effort to transform the African Savannah from a “Sleeping Giant” to the cradle of the continent’s green revolution.

“This sleeping giant needs to wake up,” the Bank’s Vice-President for Agriculture, Human and Social Development, Jennifer Blanke, told an audience at a 2018 World Food Prize side event in Des Moines, Iowa last week.  Blanke described Africa’s nearly 400 million hectares of Savannah zones as “the world’s largest agricultural frontier,” and if a small fraction of that cultivatable land – some 16 million hectares – is transformed, it could well set Africa up to decrease dependence on food imports, feed itself and contribute to feeding the world.

Africa is host to 60% of the world’s uncultivated arable land, but currently spends an estimated US$35 billion per year on importing food. This figure is projected to shoot up to US$110 billion by 2025. Africa is importing what it should actually be producing: 22 million metric tons of maize, two million metric tons of soybean, one million metric tons of broiler meat and 10 million metric tons of milk product each year. This situation is made worse when African countries export raw goods outside the continent to be processed into consumer products imported back into Africa for purchase. In essence, Africa is exporting jobs outside the continent, and contributing to Africa’s poverty challenges.

ALSO READ  AfDB hails Canada’s US$1.1 billion pledge in callable capital support

The African Development Bank has determined that the African Savannah can support the production of maize, soybean, and livestock, and transform the continent into a net exporter of these commodities. Only ten percent of the African Savannah is under cultivation – better utilized, small sections of Africa’s grasslands could provide direct jobs for tens of millions of young people and indirect jobs for many more.

Blanke, who spoke on behalf of African Development Bank President Akinwumi Adesina, noted that all of Africa’s Savannah is more than twice as large as Brazil’s “Cerrados” that launched that country’s farming economy success. She said transforming a small part of Africa’s mixed woodland grasslands, in a smart and sustainable way, can produce enough to supply all the continent’s maize, soybean, and livestock requirements.

Brazil transformed its tropical Cerrados into a US$54 billion food industry within two decades through skillful development of production technologies for new crop and livestock varieties; innovative soil and crop management programs adapted to the tropics; wide-scale dissemination of new agricultural technologies; low interest loans, and ambitious rural development programs.

The Bank’s Technologies for African Agricultural Transformation for the Savannahs (TAAT-S) initiative seeks to transform 16 million Ha out of Africa’s 400 million Ha of Savannah into an agribusiness hive for the production of maize, soybean, and livestock. That is just about four percent of the continent’s mixed woodland and grassland areas. If African countries can harness the available technologies with the right policies, they will rapidly raise agricultural productivity and incomes for farmers, as well as assure lower food prices for consumers.

ALSO READ  Makinde  launches IITA-backed STEP programme

Vice President Blanke led a Bank delegation selling the merits of its TAAT-S initiative at the World Food Prize gathering. The Bank’s TAAT-S session discussed training, innovation, entrepreneurship, and policy support for transformation of African Savannahs.

To ensure effective implementation, the Bank has looked to Brazil’s agri-business success story to engage with organizations with proven track record in tropical and conservation agriculture. These include the Brazilian Research Corporation and the Agricultural Corporation of Brazil, the Argentine Association of Zero-tillage, and the Argentine Agricultural Research Institute – all part of a systematic effort at technology introduction and adaptation.

TAAT-S was launched in October 2017 in Ghana and has since been operating in Zambia, Guinea and Gabon. The Bank expects to launch TAAT-S in Uganda, Kenya, Democratic Republic of Congo, Central African Republic, and Mozambique next year.

When TAAT-S is fully implemented, Africa can expect to double its maize production from a current 50 million metric tons per annum to 100 million metric tons, to triple soybean production from less than three million metric tons to nine million metric tons, and to double livestock production from 8.5 million metric tons to 16 million metric tons by 2025.

The TAAT-S session was part of Borlaug Dialogue International Symposium, held in conjunction with the World Food Prize Laureate Ceremony. The US$250,000 World Food Prize recognizes accomplishments of individuals who have advanced human development by improving the quality, quantity, or availability of food in the world. African Development Bank President Adesina is the 2017 World Food Prize laureate.

ALSO READ  NCC, Google collaborate on internet affordability

Comments

News

Senate Approves Tinubu’s $500m Loan for Power Sector Boost

Published

on

By

The Nigerian Senate has approved President Bola Tinubu’s $500 million loan request intended to bolster the operations of the Bureau of Public Enterprises (BPE) to enhance the financial and technical performance of electricity distribution companies, ultimately benefiting citizens.

The endorsement, announced on Tuesday, follows a thorough examination of the report presented by Senator Aliyu Wamakko, who heads the Senate Committee on Local and Foreign Debts overseeing the 2022 – 2024 External Borrowing (Rolling) Plan specifically for the Bureau of Public Enterprises (BPE).

During the presentation of the report, Senator Haruna Manu, serving as the Vice Chairman of the Committee, emphasised the importance for the Senate to duly receive and deliberate upon the report of the Committee on Local and Foreign Debts concerning the 2022 – 2024 External Borrowing (Rolling) Plan for the Bureau of Public Enterprises (BPE).

The $500 million loan constitutes a portion of the $7.94 billion loan originally requested by President Bola Tinubu on November 1st, 2023, within the framework of the 2022-2024 external borrowing plan. In addition to the $500 million, President Tinubu also sought approval for a €100 million loan.

However, during a special plenary session on December 30, the Senate greenlit the borrowing of $7.4 billion after careful consideration of the report furnished by the Committee on Local and Foreign Debt.

ALSO READ  Makinde  launches IITA-backed STEP programme

 

Continue Reading

News

Melinda Gates Resigns from Gates Foundation, Set to Receive $12.5 Billion

Published

on

By

In this file photo taken on September 26, 2018, Bill Gates and his ex-wife, Melinda Gates, introduce the goalkeepers event at the Lincoln Center in New York. Ludovic MARIN / AFP

Melinda French Gates announced Monday she was leaving the philanthropy mega foundation she established with her ex-husband, Microsoft co-founder Bill Gates.

The resignation, which becomes effective on June 7, will leave Bill Gates as the sole chair of one of the world’s most influential and powerful non-governmental organizations.

“After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation,” Melinda French Gates wrote in a statement posted on social media.

The statement gave no reason for her departure, but noted that “under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families.”

The couple married in 1994 but announced their divorce in 2021.

They had continued to co-chair the foundation which they established in 2001 with the vast wealth acquired through the success of Microsoft.

With a focus on child poverty and preventable diseases, the foundation has been heavily involved in fighting malaria and in providing toilets and sanitation in poorer parts of the world.

The foundation’s website says it has spent $53.8 billion since 2000, and claims the number of children around the world who die before their fifth birthday has halved in this time.

ALSO READ  South Africa : New Year Message by President Jacob Zuma

Bill Gates thanked his ex-wife for her “critical contributions” to the organization.

“As a co-founder and co-chair Melinda has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality,” he said.

“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work.”

The organization’s chief executive, Mark Suzman, said its name would change to simply the Gates Foundation — it has been known as The Bill & Melinda Gates Foundation.

“I truly admire Melinda, and the critical role she has played in starting the foundation and in setting our values, she has played an essential role in all that we’ve accomplished over the past 24 years,” he said in a video posted to social media.

“I will miss working with her and learning from her. I look forward to seeing her continued impact.”

 

 

Continue Reading

News

EFCC calls on banks’ compliance officers to uphold confidentiality

Published

on

The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has urged Compliance Officers of Banks nationwide to refrain from unauthorised disclosure of EFCC’s investigative activities and requests made to banks’ customers.

Speaking through the Acting Zonal Director of the Ibadan Zonal Command of the EFCC, ACE I Hauwa Garba Ringim, during a stakeholders’ meeting with Compliance Officers of Banks in Oyo State on Tuesday, Olukoyede emphasised the detrimental impact such disclosures have on the investigation of financial crimes and the timely filing of corruption cases in court.

Olukoyede expressed concern over the tacit support fraudsters receive from the Nigerian banking sector, highlighting the challenges it poses to the Commission.

He urged Compliance Officers to promptly respond to EFCC’s correspondence with certified true copies of relevant documents, as this facilitates swift investigation processes.

Also, Olukoyede addressed the illegal trading of naira with Point-of-sale (POS) operators, stressing the need to curtail such practices for the benefit of Nigerians.

In response to the chairman’s directives, Compliance Officers assured the EFCC of their unwavering support and commitment to enhancing collaboration between the Commission and banks for more effective anti-corruption efforts.

 

ALSO READ  Integrity in Development Projects : AfDB debars GEO SCIENCES for 48 months for fraudulent practices
Continue Reading
Advertisement

Tweets by ‎@megaiconmagg

Subscribe to our Newsletter

* indicates required

MegaIcon Magazine Facebook Page

Advertisement

MEGAICON TV

Trending