Prime Business Africa
MAPUTO, Mozambique, 18 July 2024 -/African Media Agency(AMA)/-With the planting season fast approaching, Mozambican farmers are busy preparing their fields. Fertilizer is crucial for a successful harvest, and many farmers are lining up to secure supplies.
Mozambique’s planting season kicks off in September, when the southern provinces receive their first rains, while the north waits until December.
Join our WhatsApp ChannelThe northern and central provinces, with their fertile soils, are the country’s agricultural breadbasket. In the south, the soil is poorer, rainfall is scarce, and droughts and floods occur frequently.
This year, Mozambique’s farmers are getting a much-needed helping hand. On June 14, 2024, the Africa Fertilizer Financing Mechanism and its implementing partner, the African Fertilizer and Agribusiness Partnership(link is external) (AFAP) launched a $2 million fertilizer financing project.
This project, dubbed Fertilizer Financing for Sustainable Agriculture Management in Mozambique, aims to boost access to fertilizer for 300,000 smallholder farmers and increase their productivity and wealth, over the next three years.
AFAP will leverage the Mechanism’s $2 million partial trade credit guarantee to provide guarantees to 5 fertilizer suppliers for the delivery, on credit, of 60,000 tons of fertilizer to smallholder farmers, through 30 hub agro-dealers, and 125 retail agro-dealers. This collaboration will reduce the risks that suppliers face delivering fertilizers in Tete, Manica, Nampula, Zambezia, Sofala and Gaza provinces.
The project also includes a $877,980 grant for soil health activities and training for smallholder farmers.
With this timely financial support, Mozambican farmers can look forward to a more productive planting season. 95 percent of the country’s agricultural production comes from smallholder farmers, while the remaining 5 percent comes from commercial farmers. Mozambique produces sugar, soybeans, bananas, rice, vegetables, nuts, cotton and tobacco. This new financing will specifically support the cultivation of rice, maize, and soybeans.
This launch follows the African Union’s African Fertilizer and Soil Health Summit(link is external), held in Nairobi, Kenya, from 7 to 9 May 2024. During the Summit, African heads of State committed to supporting the full operationalization of the Africa Fertilizer Financing Mechanism.
The Africa Fertilizer Financing Mechanism is a special fund administered by the African Development Bank Group. The Mechanism provides innovative financing solutions required to accelerate the use of fertilizers in Africa and improve agricultural productivity in Africa.
Distributed by African Media Agency (AMA) on behalf of African Development Bank
The post Mozambican Farmers Gear Up for Planting Season with Timely $2 Million Fertilizer Financing Boost appeared first on African Media Agency.
Source : African Media Agency (AMA)
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