From October 21 – 23, 2015, Propcom Mai-karfi attended and presented at a high-level conference organized by African Development Bank (AFDB) on the theme: Feeding Africa – an Action Plan for African Agricultural Transformation. The event was co-hosted with the African Union Commission and the United Nations Economic Commission for Africa (UNECA), and was attended by over 500 participants from across the continent, heads of government finance, rural development, and agriculture agencies; and representatives of multilaterals, international organizations, civil society, and the private sector.
At the request of AFDB, Propcom Mai-karfi (PM) was a co-convenor for the Work Stream on Agricultural Mechanization panel in acknowledgement of our work in facilitating mechanisation financing and increasing smallholder farmers’ access to mechanisation services in Nigeria. PM was represented by its Market Section Manager for mechanisation, Oluwatosin Ariyo, who presented on the benefits of mechanisation for smallholder farmers in Sub-Saharan Africa (SSA), highlighting economic comparative indicators between the cost and output of the traditional methods of farming versus the use of mechanised solutions. PM also touched on challenges which have led to the low penetration of mechanisation services in SSA, and cited PM’s private sector-led tractor acquisition and service provision model as one of many probable solutions. PM encouraged AFDB to support African countries with setting up a mechanization fund which will improve the key constraints of high interest rates and short repayment tenors stipulated by commercial banks on loans given to tractor service providers.
AFDB talks more about the conference and PM’s role. Read here: http://www.afdb.org/en/news-and-events/article/feeding-africa-conference-resolves-to-accelerate-agriculture-transformation-14882/.