Abidjan, Cote d’Ivoire – A $10 million equity investment has been approved by the Board of Directors of African Development Bank (ADB) in the South African based private equity investment company Phatisa Food Fund2 (PFF2) to boost agriculture and nutrition across Africa.
A press statement issued in Abidjan and copied to West African Journal Magazine says the project will cover the entire African continent, with a sharper focus on Sub-Saharan Africa.
PFF2 will focus on food/consumer related investments including integrated food production, processing, services and inputs (seed, fertilizer & chemicals), mechanization, distribution, logistics and infrastructure, packaging, food services and retail, the release said.
PFF2 is averaging investments of about #0 million in the West African countries of Ghana, Nigeria, and Cote d’Ivoire, Ghana and in Ugandan, Kenya and Tanzania in East Africa and southern African countries of Zambia, Malawi,, South Africa and Zimbabwe.
The release further said, PPF2’s investment strategy is aligned with the Bank’s High5 priorities of feeding and industrializing Africa. It is in line with the Bank’s Ten Year Strategy, focusing on inclusive growth, strengthening agriculture and food security, and access to local finance, among other Bank strategies as well as government agriculture and agro-industry policies across African countries.
Press Statement – AFDB