Grow Africa Reports Substantial Early Impact of Agricultural Investments

Grow Africa Investment Forum marks historic shift in private-sector investments in Africa’s agriculture as a growing group of companies commit to creating economic opportunity for smallholders and improving food security. Grow Africa has helped mobilize over US$ 3.5 billion in new investment commitments, engaging over 800,000 farmers in eight African countries in under one year. For more information about Grow Africa and its progress in 2012-2013, download the newly launched annual report here: www.growafrica.com. Africa annual report captures the ways in which investment commitments have been put into action. This early progress shows promise for smallholders, including: More than US$ 60 million invested in activities that incorporate smallholder farmers into commercial, market-based activities Approximately 270,000 million tonnes of commodities sourced within partner countries – the vast majority from smallholders – and the equivalent of around US$ 300 million in sales from these farmers fed into the market system Almost 800,000 smallholders reached with a mix of training, sourcing and service provision Speaking at the Grow Africa Investment Forum today, Ibrahim Assane Mayaki, Chief Executive Officer, NEPAD Planning and Coordinating Agency, said: “The Grow Africa countries have made agricultural transformation a priority. It is encouraging to see companies respond concretely and apply their knowledge, finance and market access in a way that will drive Africa’s development.” Joergen Haslestad, President and Chief Executive Officer of Yara International, said: “Africa’s agricultural transformation is clearly underway. But to achieve its full potential impact on poverty and food security, partners need to renew and redouble their commitment to act in concert.” Taylor Scott International