Food security: $60 million to support Elnefeidi Group’s agricultural expansion in Sudan

1,033FollowersFollow

The African Development Bank’s Board of Directors has approved a $60 million loan to Elnefeidi Group Holding Company to help finance its long-term agriculture and food expansion program, the bank said in a statement received by TODAY NEWS AFRICA in Washington DC.

The planned expansion includes increasing agricultural productivity, enhancing related infrastructure, food processing and distribution. It will directly contribute in developing Sudan’s livestock value chain (poultry and beef) by increasing the country’s export capacity for value-added livestock products. This will help reduce the economic value that the country loses by exporting millions of live animals each year.

“Agricultural transformation is one of the Bank’s top five strategic priorities and the Bank is delighted to have identified a viable private sector actor like Elnefeidi Group which has a proven track record and through which we can channel the Bank’s support” said Atsuko Toda, African Development Bank Director for Agriculture Finance and Rural Development.

The loan is expected to contribute significantly to food security, food import substitution, and household incomes by creating jobs and increasing local productivity and distribution by over half a million metric tonnes each year across several countries. Elnefeidi Group employs over 1,842 people and has distribution networks covering North, East and Central Africa.

“This approval to Elnefeidi Group is another demonstration of the African Development Bank’s continued support and strong commitment to enable, deepen, and empower the private sector in Sudan, as an engine of economic and inclusive growth,” said Raubil Durowoju, the Bank’s Country Manager for Sudan. “This is also consistent with Sudan’s National Agriculture Investment Plan, which seeks to achieve agriculture-linked growth, largely through private investments.”

Sudan is widely considered to hold immense food production potential. Sixty-three percent of its land area is classified as agricultural, and its competitive advantages include: a promising demographic profile, projected growth in household food demand, and proximity to a range of markets in Central Africa, North Africa and the Middle East, many of them food-deficit countries.

Today News Africa
Today News Africahttps://todaynewsafrica.com
TODAY NEWS AFRICA is registered and headquartered in Washington, District of Columbia, United States of America. Our publication is widely read, respected and influential. By providing daily answers to questions our readers have about the people, the businesses and the continent of Africa, we are reaching a diverse and wide audience from around the world. Our readers, many of them world leaders, trust us because we are independent and truthful. Our advertisers understand the difference between news, views and ads. Contact us: contactus@todaynewsafrica.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Now

U.S. President-elect Joe Biden says he’s concerned about escalating violence in Ethiopia and worries about civilians

U.S. President-elect Joseph R. Biden Jr. on Monday said he was concerned about the escalating violence in Ethiopia. In a call with the United Nations...

U.S. President-elect Joe Biden speaks with Presidents of Kenya, Argentina and Costa Rica, and UN chief

U.S. President-elect Joseph R. Biden Jr. on Monday spoke with world leaders, including President Uhuru Kenyatta of Kenya, the second African leader after his...

Biden to use walking boot for several weeks after sustaining fractures while playing with dog, doctor says

U.S. President-elect Joe Biden sustained a sprain of his right foot while playing with his dog, Major, his doctor said on Sunday. "Initial X-rays are...

Ethiopian forces set to take Tigrayan capital, as many fear mass civilian deaths

The Ethiopian military said late on Friday that government forces were set to take control of Mekelle, the regional capital of Tigray, even as...

Nigerian-American Adewale Adeyemo makes history as President-elect Biden announces members of his economic team

U.S. President-elect Joe Biden on Monday announced key members of his economic team, including Janet Yellen as Secretary of the Treasury; Neera Tanden as...

President-elect Joe Biden slips while playing with dog, twists ankle

U.S. President-elect Joseph R. Biden Jr. slipped while playing with his dog, Major, and twisted his ankle. The President-elect is being examined at Delaware Orthopaedic...

U.S. House members ask Trump admin to put on hold deportation of asylum-seekers from Cameroon and other African countries

United States House of Representatives members on Tuesday called on the Trump administration to put on hold the deportation, slated for Wednesday, of asylum-seekers...

U.S. must stop vilifying immigrants, says Biden homeland security nominee Alejandro N. Mayorkas

The United States "must stop vilifying" immigrants, President-elect Joe Biden's nominee for Secretary of Department of Homeland Security Alejandro N. Mayorkas said on Thursday,...

Biden: We can and must do more for people with disabilities – statement

Statement by President-elect Joe Biden on United Nations International Day of Persons with Disabilities Today, Jill and I join with communities, advocates, and activists around...

Democrats and Republicans finally get serious about COVID-19 relief deal before Christmas

The Democrats and the Republicans are finally serious about reaching a COVID-19 deal before Christmas, as new cases increase and hospitalizations and deaths expand...

52,000 people have died from COVID-19 in Africa from 2.1 million infections, the lowest death toll in the world

More 52,500 people have died from COVID-19 in Africa from over 2.1 million infections, according to the latest data released by the Africa CDC. The...

President-elect Biden appoints Brian Deese as Director of the National Economic Council

U.S. President-elect Joe Biden announced on Thursday that veteran economic and climate expert Brian Deese will be appointed to serve as Director of the...

U.S. marks another grim milestone with 2800 coronavirus deaths in one day

The United States marked another grim milestone on Wednesday with over 2800 coronavirus deaths in a single day, the highest since the pandemic began...

Equitable access to COVID-19 vaccines to generate $153 billion economic benefits in 10 major economies

As world leaders gather virtually at the Special Session of the General Assembly in response to the COVID-19 pandemic, new data published today finds that leaving low-...

U.S. must stop vilifying immigrants, says Biden homeland security nominee Alejandro N. Mayorkas

The United States "must stop vilifying" immigrants, President-elect Joe Biden's nominee for Secretary of Department of Homeland Security Alejandro N. Mayorkas said on Thursday, adding the country must also "bring to an immediate end the inhumane and unjust treatment of immigrants." "There is no more powerful and heartbreaking example of that inhumanity than the separation of children from their parents," Mayorkas said in remarks to the...
error: Alert: Content is protected !!
Share
WhatsApp
Tweet
Pin
Share