Nine African countries have been working on improving access to financial services for small-scale agricultural and processing businesses through German cooperation. A conference with around 100 participants helped develop strategic approaches to transform agriculture and food systems. It has submitted its recommendations to the African Union. Agricultural loans are often considered risky and expensive, requiring tailored solutions for small rural businesses. The Kampala Comprehensive Africa Agriculture Development Program (CAADP) declaration focuses on strategies that combine public and private engagement for affordable financial services. Improving access to agricultural finance is key to overcoming poverty and hunger in Africa, with much-needed state support. Collaboration between the public and private sectors and civil society is crucial to transforming agrifood systems. Women and girls benefit from the transformation of agricultural systems, empowering them and reducing crime. Secure land rights and agricultural financing are key to improving food security in Africa.
Source : Rural 21
