{"id":42739,"date":"2019-12-30T04:45:05","date_gmt":"2019-12-30T02:45:05","guid":{"rendered":"https:\/\/southafricatoday.net\/africa-news\/west-africa\/cameroon\/sudan-african-development-bank-approves-60-million-loan-to-support-elnefeidi-groups-agricultural-expansion\/"},"modified":"2019-12-30T04:45:05","modified_gmt":"2019-12-30T02:45:05","slug":"sudan-african-development-bank-approves-60-million-loan-to-support-elnefeidi-groups-agricultural-expansion","status":"publish","type":"post","link":"https:\/\/southafricatoday.net\/africa-news\/west-africa\/cameroon\/sudan-african-development-bank-approves-60-million-loan-to-support-elnefeidi-groups-agricultural-expansion\/","title":{"rendered":"Sudan: African Development Bank approves $60 million loan to support Elnefeidi Group\u2019s agricultural expansion"},"content":{"rendered":"

<\/a>
Download logo<\/a><\/p>\n

The African Development Bank\u2019s (www.AfDB.org) Board of Directors has approved a $60m loan to Elnefeidi Group Holding Company to help finance its long-term agriculture and food expansion programme.<\/p>\n<\/p>\n

The planned expansion includes increasing agricultural productivity, enhancing related infrastructure, food processing and distribution. It will directly contribute in developing Sudan\u2019s livestock value chain (poultry and beef) by increasing the country\u2019s export capacity for value-added livestock products. This will help reduce the economic value that the country loses by exporting millions of live animals each year.<\/p>\n

\u201cAgricultural transformation is one of the Bank\u2019s top five strategic priorities and the Bank is delighted to have identified a viable private sector actor like Elnefeidi Group which has a proven track record and through which we can channel the Bank\u2019s support\u201d said Atsuko Toda, African Development Bank Director for Agriculture Finance and Rural Development.<\/p>\n

The loan is expected to contribute significantly to food security, food import substitution, and household incomes by creating jobs and increasing local productivity and distribution by over half a million metric tonnes each year across several countries. Elnefeidi Group employs over 1,842 people and has distribution networks covering North, East and Central Africa.<\/p>\n

\u00a0\u201cThis approval to Elnefeidi Group is another demonstration of the African Development Bank\u2019s continued support and strong commitment to enable, deepen, and empower the private sector in Sudan, as an engine of economic and inclusive growth,\u201d said Raubil Durowoju, the Bank\u2019s Country Manager for Sudan. \u201cThis is also consistent with Sudan\u2019s National Agriculture Investment Plan, which seeks to achieve agriculture-linked growth, largely through private investments.\u201d<\/p>\n

Sudan is widely considered to hold immense food production potential. Sixty-three percent of its land area is classified as agricultural, and its competitive advantages include: a promising demographic profile, projected growth in household food demand, and proximity to a range of markets in Central Africa, North Africa and the Middle East, many of them food-deficit countries.<\/p>\n

Distributed by APO Group on behalf of African Development Bank Group (AfDB).<\/i><\/p>\n

Media contact:\u00a0<\/strong>
\nOlufemi Terry
\nCommunication and External Relations Department
\nAfrican Development Bank
\nemail: o.terry@afdb.org<\/p>\n

About the African Development Bank Group<\/strong>
\nThe African Development Bank Group (www.AfDB.org) is Africa\u2019s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org<\/a><\/p>\n<\/p>\n

Source<\/a>
\n
South Africa Today Africa \u2013 West Africa Cameroon<\/a> News<\/p>\n","protected":false},"excerpt":{"rendered":"

Download logo The African Development Bank\u2019s (www.AfDB.org) Board of Directors has approved a $60m loan to Elnefeidi Group Holding Company to help finance its long-term agriculture and food expansion programme. The planned expansion includes increasing agricultural productivity, enhancing related infrastructure, food processing and distribution. It will directly contribute in developing Sudan\u2019s livestock value chain (poultry […]<\/p>\n","protected":false},"author":10,"featured_media":188473,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[376],"tags":[258,256,4380,8375,8326,7089,377,5989,32026,5779,9835,8828,5118,257,254,4708,6096],"class_list":["post-42739","post","type-post","status-publish","format-standard","has-post-thumbnail","category-cameroon","tag-africa","tag-africa-news","tag-african","tag-agricultural","tag-approves","tag-bank","tag-cameroon-news","tag-development","tag-elnefeidi","tag-expansion","tag-groups","tag-loan","tag-million","tag-news","tag-south-africa-today","tag-sudan","tag-support"],"_links":{"self":[{"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/posts\/42739","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/comments?post=42739"}],"version-history":[{"count":0,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/posts\/42739\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/media\/188473"}],"wp:attachment":[{"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/media?parent=42739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/categories?post=42739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/tags?post=42739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}