UK minister for Africa, Lord Collins yesterday announced £25 million investment into African food and agriculture sector during keynote speech at the Africa Food Systems Forum (AFSF) in Kigali, Rwanda.
According to statement released by the Home office, UK Africa Minister reiterated the UK’s commitment to partner with Africa on boosting its food trade, tackling the climate crisis and strengthening food and nutrition security to senior African leaders; Lord Collins will also meet the President, Foreign Minister and other senior Rwandan decision-makers to strengthen bilateral relations between the UK and Rwanda.
Africa Minister Lord Collins has today [4 September] announced UK backing for a new investment facility that will accelerate the growth of Africa’s food and agriculture sector.
During his keynote speech at the Africa Food Systems Forum (AFSF) 2024, Lord Collins committed to providing £25 million for AgDevCo, a UK-based social impact investor dedicated to investing in African agribusinesses.
In the face of conflict and climate change, communities across Africa are grappling with high levels of hunger and malnutrition. In Sub-Saharan Africa, 1 in 4 are undernourished. Investing in Africa’s food markets is a crucial means of working with farmers, helping those at the forefront of the climate crisis and moving towards a world free from poverty.
The UK’s contribution is expected to yield an increase in income of £128 million for the farmers who benefit by 2036.
The Minister for Africa, Lord Collins of Highbury said:
“Improving food markets will have a game changing impact on individuals and families across Africa. Giving hard working farmers stable incomes, creating jobs for the youth and helping end malnutrition.”
“Without access to funding, no matter the drive and ingenuity, too many businesses can’t get off the ground.”
