As part of an effort to build sustainable businesses in Africa and fight poverty, the Soros Economic Development Fund has announced a US$5 million investment in GADCO, a Ghanaian agriculture company.
GADCO was a featured presenter during the first IAFN side event on responsible agricultural investment in 2011. Their model clusters small producers around a medium-sized farm that boasts processing and transport capacity. The aim is to boost rice production while improving the livelihoods of thousands of subsistence farmers.
SEDF’s commitment to GADCO will help smallholder farmers produce and sell rice on a large, commercial scale. The investment aims to reduce Ghana’s dependence on imported rice and consequent obligation to pay world market prices, by increasing and stabilizing rice production within the country.
Stewart Paperin, president of the Soros Economic Development Fund says that “Ghana has the potential to be an agribusiness leader on the continent”.
The International Pulse Trade and Industries Confederation, CICILS, has set aside $1.1 million in a CICILS account to fund activities that will form contributions to the United Nations International Year of Pulses 2016. The Year will be a key opportunity to promote the benefits of pulses to food security; health & nutrition; rural livelihoods and environmental sustainability.
In addition to this funding, CICILS is working to raise further funds and in-kind contributions to make the year a success, for example through the FAO trust fund by member states. Activities are already underway with national promotional groups worldwide, from China, to the UK, to Brazil and North America. The UN, the pulse sector, scientists, civil society and others are encouraged to give support for progressive goals for the year and innovative partnerships to implement them.
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A 60-person delegation of business leaders was present at the 40th Plenary session of CFS in Rome, in order to share expertise and experiences in the fight against hunger and the UN’s Strategic Objectives on food and agriculture.
Among the many highlights of the week was a meeting between the private sector delegation and the Director General of the UN’s Food and Agriculture Organization (FAO), Jose Graziano da Silva.
Exploration of private sector partnerships is of increasing importance at global level. More information can be found on FAO’s website, as well as a write-up and a picture of the private sector delegation with Graziano da Silva http://www.fao.org/news/story/en/item/202170/icode/