Africa Fertilizer Financing Mechanism (Affm) Governing Council Members Commit to More Action for the Financing of the Fertilizer Sector

15 March 2021
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African Development Bank (Abidjan)

The Governing Council of the Africa Fertilizer Financing Mechanism (AFFM) issued a call for greater action to secure adequate financing for the continent's fertilizer sector at its ninth meeting.

During a virtual meeting held 3 March and attended by 13 institutional members, the Governing Council adopted AFFM's report on 2020 activities and endorsed a work program for 2021.

The Governing Council also commended the AFFM for a number of specific achievements, including formation of a partnership with OCP Africa that will improve access to quality inputs for 430,000 smallholder rice and maize farmers in Cote d'Ivoire and Ghana, and implementation of a trade credit guarantee project in Tanzania.

"The achievements reached so far by AFFM are promising. We remain committed to supporting the AFFM in the implementation of its strategic plan as well as the related resources mobilization campaign, mainly within the African countries," said Josefa Leonel Correia Sacko, African Union Commissioner for Rural Economy and Agriculture, and Governing Council Chairperson.

Council members also called on the AFFM to strive to adopt strategies that maximize impact for farmers.

Fadel Ndiame, Deputy President of Alliance for a Green Revolution for Africa (AGRA) said: "We strongly believe that this program plays a significant role in showing how important the relationship between hub agro-dealers and agro-dealers is in the distribution of fertilizers. We should make sure that our respective interventions translate into concrete results at the farmers' level."

The Governing Council also advocated for policies to guarantee the quality of fertilizers produced and used in all countries, and underscored the need for the sector to take advantage of opportunities provided by the digital revolution and the newly launched African Continental Free Trade Area (AfCFTA).

"We are proud of what AFFM has done since it became operational. However, the Mechanism Fund requires more resources to increase its impact. We are confident that on-going discussions with different partners will make more financing options available to the fertilizer value chain," said Martin Fregene, the Bank's Director of Agriculture and Agro-Industry.

About the Africa Fertilizer Financing Mechanism

The AFFM was established by the 2006 Abuja Declaration. Through this Declaration, African Union Member States committed to an initiative to improve agricultural productivity by providing financing required to boost fertilizer use in Africa to achieve the target of 50 kg of nutrients per hectare. The African Development Bank manages the AFFM to accelerate agriculture development within the context of the Comprehensive Africa Agriculture Development Programme (CAADP), the Sustainable Development Goals and the African Union's Agenda 2063.

Read the original article on African Development Bank (AfDB).

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