AFRACA participates in the Africa Food Systems Forum

The 2024 AFS Forum was held in Kigali, Rwanda under the theme ‘Innovate, Accelerate and Scale: Delivering food systems transformation in a digital and climate era. It pulled in 5000+ delegates composed of leaders, innovators and stakeholders across Africa and beyond. The official opening ceremony on the second day of the Forum had a vibrant start with powerful speeches from high-level dignitaries. Rt. Hon. Dr. Prime Minister Edouard Ngirente officially opened the 2024 Africa Food Systems Forum and noted with satisfaction the efforts to turn the annual summit into an accountability platform. In his remarks he challenged other African leaders to move from words to actions and implement policies that promote a more resilient and equitable food system.

The financing-focused sessions revolved around risk mitigation and private sector financing to agri food systems. Key sessions highlighted innovative financing models. The plenary session brought together different stakeholders to discuss the opportunities for mobilizing private sector resources in accelerating Africa’s food system transformation. Speakers highlighted the inherent challenges in the continent’s agricultural sector. Various financing solutions were highlighted  to reduce the risk profile of farming ventures to attract capital from financial institutions and development partners. Blended finance and public private partnerships were emphasized among the multiple strategies for accelerating food system funding.

AFRACA leveraged the Forum to hold collaborative discussions with diverse stakeholders including Emerging Ag. Inc, and AGRA’s inclusive finance team. discussions with AGRA centered on AFRACA’s role in the newly conceived Agricultural Finance Policy and advocacy Acceleration Facility (AFPAF). African Union Commission’s 10-year CAADP Action Plan and post Malabo agenda was a priority area for further collaboration with the Commission particularly on matters related to agri food finance. AFRACA took the opportunity to introduce and discuss the  upcoming 8^ème World Congress on Rural and Agricultural Finance with some key participants, including Equity Bank Kenya which showed interest.