The Green Agribusiness Fund just launched its pilot phase of the $30,000 fund in Nigeria and Rwanda, to be invested in youths and agribusinesses. The fund which is spearheaded by JR Farms in collaboration with Generation Africa and the UN’s Food and Agriculture Organisation (FAO), seeks to intensify its efforts in nurturing the next generation of agrarian leaders in Africa while ensuring food security isn’t a myth in the continent.
An equity funding of $5,000 each in support of peculiar business needs will be provided to six youths drawn from Nigeria and Rwanda. This peculiar business needs will include machines, packaging materials, and raw materials. The selection process will commence in the middle of the month.
Rotimi Olawale, the CEO JR Farms said, “the motive behind the initiative is to address one of the main challenges mitigating youth from productive involvement in agriculture in Africa, including limited access to finance and business mentorship.”
Furthermore, Mr. Olawale added that the scheme would tackle poverty, labour crisis, rural-urban migration, and improve living standards in rural economies across Africa.
“The Fund is designed to invest in agribusiness initiatives and companies that are deemed socially responsible in their business dealings in various parts of Africa.”
Objectives Of The Green Agribusiness Fund
Young people more often than not do not always meet the requirements for securing loans and equity. So, the Green Agribusiness Fund is bridging the gap by creating the platform for young Africans. The opportunity is for youths who will engage in agriculture as a key to transforming the continent and raising the next generation of agropreneurs.
Furthermore, businesses who intend to benefit from the Green Agribusiness Fund, must be owned by young Africans who are living in Africa. Raising the next generation of agric entrepreneurs that will lead to great initiatives in agriculture is one of the objectives of GAF. This move will position agriculture in Africa on the path of decent job creation, food security, and improve the standard of living on the continent.
In addition, Olawale said that youth-led agribusinesses that will be accommodated on this initiative must deliver value to all stakeholders without degrading economic, social, and natural capital. The initiative promises to spread its tentacles towards the promotion of diverse aspects of agricultural businesses. These different aspects cut across precision farming, agric tech, access to market, agro commodity trading, post-harvest loss, climate-smart farming, urban farming, seed, and soil improvement.
Rotimi Olawale, the CEO JR Farms is into coffee production in Rwanda, which is a growing industry in the African continent.
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