The African Export-Import Bank (Afreximbank), the African Continental Free Trade Area (AfCFTA) Secretariat, and the United Nations World Food Programme (WFP) have signed a landmark $2 billion Memorandum of Understanding (MoU) to transform Africa’s agricultural landscape. This collaboration aims to address food insecurity and boost agricultural productivity by focusing on infrastructure, trade finance, and supply chain development.

The partnership underscores the critical role agriculture plays in ensuring food security and economic stability across the continent. It seeks to integrate smallholder farmers into value chains, enhancing their access to markets and resources. Afreximbank will provide significant financial backing to modernize farming practices, encourage investment, and develop trade-enabling infrastructure.

The AfCFTA, as the world’s largest free trade area, adds an essential dimension by promoting intra-African trade in agricultural goods, while the WFP will leverage its logistical expertise to ensure efficient distribution and access to food in vulnerable regions. Together, these institutions are not only working to address immediate food shortages but also building long-term resilience against hunger and poverty.

This strategic collaboration reflects a broader vision for agricultural transformation in Africa, where enhanced productivity and trade connectivity can drive economic growth and stability. With a commitment to developing infrastructure and creating opportunities for farmers, the MoU represents a significant step toward achieving food security across the continent.

For further details, read the full article on BusinessDay.