African Green Resources: African farmers to enjoy financial scheme worth over GHC400 million

African Green Resources: African farmers to enjoy financial scheme worth over GHC400 million

- Zambian farmers would soon have access to an $81 million finance scheme set up by the African Green Resources

- Through the project, the farmers would receive farm supplies as well as technological solutions to aid them in farming

- The scheme forms part of a $150 million fund which would be spread across a series of projects in the country

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An agriculture-inclined business in Zambia, African Green Resources (AGR), has announced a finance scheme for farmers valued at $81 million.

The project, launched on Sunday, March 1, 2020, is designed to provide farm supplies and technology to farmers in exchange for farm produce.

This forms part of AGR’s plan to invest $150 million in Zambia for a series of projects, including a 50-megawatt solar farm and irrigation dam.

African Green Resources: African farmers to enjoy financial scheme worth over GHC400 million

Source: UGC

READ ALSO: Coronavirus causes stir on world market; wipes off $6 trillion off stocks in a week

Per a report by Reuters, AGR would select 120 commercial farmers, as well as 250,000 small and middle scale farmers under the new programme.

The plan is to increase food security in the country as well as the surrounding regions.

The fund would take are of 60,000 tonnes of fertilizer for wheat and soya farming, estimated to be worth $55 million.

Another $26 million would be used for projects such as the expansion of grain storage silos.

It is expected that the project would lead to a yield of 44,000 tonnes of wheat per season.

Part of the fund has been guaranteed by the African Development Bank, the African Union, Sace Italy and Agriculture Grain International.

Eventually, the farmers would derive benefits from the growth of the business as they gain access to markets and credit finance.

In other news, in the year 2019, the internet in Africa experienced continuous and longer shutdowns, a new report has suggested. understands that some African leaders capitalized on the situation to manage or control information in their countries.

Compared to the previous year, incidents of internet shutdowns across Africa increased by 32%, reports.

The tactic, used in some countries was revealed by AccesNow, an internet access advocacy group. Information available shows that out of the number of African countries that shut down internet access in 2019, at least seven of them had one time in their past shut it down or did same in either 2017 and 2018.

It has also been confirmed that 35 incidents of internet shutdowns lasted longer than seven days in 2019. 19 countries including Chad, Ethiopia, DR Congo, Eritrea, Mauritania, Sudan and Zimbabwe experienced cases of total or partial shutdown for more than seven days.

Chad, however, experienced the worst case, with aspects of its social media blocked for a record 16 months. In the run-up to the February 22, 2020, presidential elections in Togo, there were reports of social media blocks of apps such as Whatsapp and Facebook Messenger.

READ ALSO: Facebook cancels massive developer conference over fears of spread of coronavirus

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