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Nigeria: “Her Summit 2023” Set to hold in Lagos.

Her Summit 2023 is set to take place at the elegant Lagos Oriental Hotel in Lagos, Nigeria on the 16th of September 2023.

In a time where progress is the key to success, women are increasingly taking center stage, breaking barriers, and leaving an indelible mark on various industries. In a bid to celebrate and magnify the achievements of these trailblazers and simultaneously empower the next generation, this event promises to be a day of inspiration, empowerment, and invaluable resources for women from all walks of life. 

Highlighting this year’s event is a captivating keynote address to be presented by Betty Irabor

Betty Irabor, recognized as the founder of the esteemed African Lifestyle Magazine Genevieve, is not only an accomplished author but also an executive leader celebrated for her remarkable achievements in publishing, entrepreneurship, public speaking, and her dedicated advocacy for mental health and overall wellness.

The Her Summit will feature a lineup of inspiring speakers, including;
Dr Tinuade Sanda, Managing Director/CEO of EKO Electricity Distribution Company (EKEDC)

Onyekachi Eke, Director for Global Markets, West Africa at IE University, Spain
Stephanie Busari, CNN Senior Editor West Africa
Mary Ojulari, MD Westar Associates (Mercedes-Benz Nigeria)
Debbie Larry-Izamoje, Chief Operating Officer, Brila Media
Odiri Erewa-Meggison, External Affairs Director British American Tobacco West & Central Africa
Dr. Tewa Onasanya, Founder Exquisite Magazine
Mayokun Owolabi, Regional Operations & Partnerships Manager West Africa, Flutterwave
Victoria Ajayi, Deputy Chief Financial Officer at TVC Communications
Sandra Tuboereni, Creative Director of TUBO alongside other outstanding women of impact.

The Her Summit 2023 will feature panel discussions on a variety of topics, including Navigating Her Career, Her Digital Transformation Era, Reclaiming Her Power, Monetizing and Investing in Her Future, Practical AI Tools For Enhanced Productivity, On Her Game, Leveraging Leadership.

These sessions will provide diverse insights and actionable strategies for women to thrive in their respective fields. 

Supported by IE University, Flutterwave, Heirs General Insurance, Nestle, and Elect HER, Her Summit offers women a remarkable chance to come together, learn, and grow while being inspired by captivating speakers, paving the way for a transformative experience that propels attendees forward in their personal and professional journeys.

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Africa Hosts Climate Summit Ahead of COP28.

African leaders and global policymakers met on Tuesday 5 September 2023 in Kenya for a climate summit aimed at showcasing the continent as a destination for investment in efforts to combat global warming.

Heads of state, government, and industry leaders were among thousands of attendees at the summit where Africa is promoting its potential as a clean energy powerhouse and asset in addressing the climate emergency.

The Africa Climate Summit in Nairobi will come ahead of the COP28 summit later this year in the oil-rich United Arab Emirates, which is expected to feature competing agendas for the world’s energy future.

The three-day event in Nairobi, which began Monday, is billed as bringing together African leaders to define a shared vision for green development on the diverse continent of 1.4 billion.

Kenyan President William Ruto was hosting counterparts from countries including Mozambique, Tanzania, and Ghana, and United Nations head Antonio Guterres, US climate envoy John Kerry, and COP28 president Sultan Al Jaber were in attendance.

On Tuesday, the summit will offer proposals to reform global financial structures that have resulted in only a tiny fraction of investments in climate solutions being directed toward Africa.

Countries in Africa are hamstrung by mounting debt costs and a dearth of finance, and despite an abundance of natural resources, just three percent of energy investments worldwide are made in the continent.

On the opening day of the summit on Monday, Ruto said trillions of dollars in “green investment opportunities” would be needed as the climate crisis accelerates.

“Africa holds the key to accelerating decarbonization of the global economy. We are not just a continent rich in resources. We are a powerhouse of untapped potential, eager to engage and fairly compete in the global markets,” Ruto said on Monday.

A clean energy transition across the world’s developing nations will be crucial to keep alive the Paris Agreement goal of capping global warming “well below” two degrees Celsius since pre-industrial times, and 1.5C if possible.

To make that happen, the International Energy Agency (IEA) says investment will need to surge to $2 trillion a year within a decade — an eight-fold increase.

The international investment must be “massively scaled up to enable commitments to be turned into actions across the continent”, said Ruto, Al Jaber, and African Union Commission head Moussa Faki Mahamat in a joint statement on Monday.

The summit’s focus on climate finance has drawn opposition from some environmental quarters, with hundreds of demonstrators protesting near the conference venue in Nairobi on its opening day.

A coalition of civil society groups has been urging Ruto to steer global climate priorities away from what it perceives as a Western-led agenda that champions carbon markets and other financial tools to redress the climate crisis.

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Rwanda Resuscitate Electrification Plan, Bringing Back Solar.

The government has revised the National Electrification Plan (NEP) to augment the number of households connected to the national grid and bolster off-grid solutions.
This updated NEP is a direct response to the latest statistics on electricity access, as revealed by the National Institute of Statistics in the 5th Population and Housing Census released late last year. The concerns for the environment are also the driving force behind these changes, with renewable energy taking center stage in discussions at the upcoming Africa Climate Summit in Nairobi, Kenya, slated for September 4 to 6, 2023.

This summit which is co-hosted by the African Union, is expected to set the stage for substantial commitments to enhance access to reliable, low-carbon energy.

Minister for Environment, Jeanne d’Arc Mujawamariya, expects tangible pledges and commitments from participating nations to expand access to sustainable energy. According to the International Renewable Energy Agency (IRENA), just two percent of global investments in renewable energy over the past two decades have been allocated to Africa.

To narrow this gap, Rwanda’s revised NEP seeks to connect 52 percent of households to the national grid and allocate 48 percent to off-grid solutions, which include Stand Alone Solar Systems (SAS) and micro-grids.

As of June 2023, 65.7 percent of Rwandan households had gained access to electricity. This figure comprises 47.6 percent connected to the national grid and 18.1 percent connected to off-grid systems, such as solar home systems and microgrids.

Rwanda has set an ambitious target to connect all households by 2024.

The revised NEP for 2023-2024, built on the 2022 baseline, reveals significant shifts in electrification planning. Rwanda Energy Group (REG) assessed electricity connection status across the nation’s sectors, incorporating factors and criteria outlined during the 2022 NEP revision. Their analysis showed that 65.2 percent of all villages now fall within the on-grid zone, encompassing 9,664 villages out of a total of 14,816.

The revised plan indicates that villages in off-grid zones have risen from 2,601 to 5,090. Notably, 34.35 percent of all villages are in off-grid zones equipped with solar home systems.

Of these off-grid villages, 91 (0.6 percent) are slated for micro-grid development, while 4,999 (33.7 percent) will be electrified using Standalone Solar Home Systems. This expansion of off-grid coverage follows discussions between REG and private off-grid developers who have persistently advocated for increasing the market stock in these areas to facilitate more connections.

REG plans to divide these villages into two categories. The first batch of 2,000 villages will be made available to off-grid developers as a top priority, while the remainder will be considered as the second priority, contingent on the performance of the companies in the first batch.

Villages earmarked for Stand-Alone Solar Home Systems in off-grid areas will be allocated to the Renewable Energy Fund (REF), allowing residents to acquire the technology through a subsidy scheme. This initiative aims to encourage the adoption of off-grid solutions while the government mobilizes funds to bring them onto the national grid.

REG officials say there are ongoing discussions with stakeholders to explore funding possibilities, ensuring that all unconnected villages and their productive users gain access to electricity before the end of June 2024. They recommend that the revised plan be embraced by all stakeholders and development partners to accelerate the implementation of the National Strategy for Transformation (NST1) targets.

Rwanda’s investment in renewable energy is anticipated to reduce total emissions by 4.6 million tonnes, or 38 percent, by 2030, in line with its national commitments to the United Nations Framework Convention on Climate Change (UNFCCC). Experts are urging the Africa Climate Summit in Nairobi to prioritize a transition to green energy.

“Renewable energy targets encompass an overall energy mix, expanding to clean energy and setting specific capacity goals for appropriate technologies such as solar, wind, hydro, and geothermal,” noted Rwanda’s Minister for Environment, Jeanne d’Arc Mujawamariya.

The summit, themed “Driving Green Growth and Climate Finance Solutions for Africa and the World,” will be attended by at least 15 African Presidents. It also provides an opportunity to bolster support for the African Agenda at the 2023 United Nations Climate Change Conference, or Conference of the Parties of the UNFCCC (COP28), and beyond, by spotlighting African countries’ shared interests in achieving low-carbon, climate-resilient, and inclusive development.

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Egypt Hosts Training Course With COMESA Monetary Institute.

With regards to the presidential directives to support Egyptian-African cooperation and integration, the Central Bank of Egypt (CBE) hosts a training course in collaboration with the COMESA Monetary Institute (CMI) on “Application of Big Data Analysis and Artificial Intelligence to Central Banking”, which is held from August 27th to August 31st, 2023.

 

The training course was attended by 35 participants representing 9 central banks from COMESA member states, as well as a delegation from the COMESA Monetary Institute, whereas the sessions are expected to involve discussions on the application of big data analytics and artificial intelligence in the banking & financial sectors, especially for central banks.

 

On this occasion, Dr. Naglaa Nozahie, the Governor’s Advisor for African Affairs in the Central Bank of Egypt, emphasized the importance of this training course, especially regarding the current global and regional developments. She also pointed out that the CBE is keen on pursuing its efforts to support capacity building for the staff of African central banks, particularly as this year’s course marks the ninth consecutive year in which the CBE provides training courses for the employees of the central banks in COMESA countries.

 

In the same context, Mrs. Lobna El-Bayyar, Assistant Sub-Governor for the Business Technology Sector at the CBE, expressed the Bank’s readiness for fruitful cooperation with COMESA central banks and highlighted its commitment to providing training courses in areas of interest to these banks in the field of information technology.

 

On his end, Dr. Lucas Njoroge, Director of the COMESA Monetary Institute, expressed gratitude to the CBE for its ongoing contribution to building the capacities of COMESA central banks. He also pointed out that the Institute looks forward to progressive collaboration with the CBE in the coming years.

 

During the training course, which involves lecturers from the Business Technology Sector at the CBE, participants are divided into work groups to discuss the recent issues and challenges related to big data and artificial intelligence. Moreover, they also present possible solutions to overcome these challenges as practical training on the application of big data analysis and artificial intelligence.

 

At the end of the course, a set of proposals and recommendations will be formulated, that aims to empower a greater and deeper understanding of the impact of big data analysis and artificial intelligence on the operations of central banks in COMESA countries. The proposals and recommendations will be discussed at the upcoming annual meeting of the COMESA Committee of  Governors of Central Banks, scheduled to be held in Zimbabwe in November this year.

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Firering Strategic Launches Commissioning of Zambia Lime Plant.

On Wednesday, Firering Strategic Minerals PLC announced that commissioning has begun at the lime plant in Zambia owned by Limeco Resources Ltd, alongside finalizing design work for the lime kilns at the site.

The Abidjan, Ivory Coast-based exploration company, which is developing a mineral assets portfolio in the Ivory Coast, said it successfully commissioned a crushing system to produce aggregates. 

This project includes a two-stage crushing circuit with an installed primary throughput of 500 tonnes per hour of limestone, while the crushing system is modified to produce aggregate to enhance cash flow during kiln renovations.

It is expected to ramp up aggregate production during the coming months with first aggregate sales expected “shortly”, while an estimated stockpile of over 250,000 tonnes of waste rock is available for initial production of aggregate.

Firering Strategic pointed out that the aggregates are mainly used in the construction industry to support foundations, provide drainage, and produce concrete and asphalt.

The company also noted a previous announcement that it has the option to acquire up to 28% of Limeco, which is expected to be profitable and deliver cash flow within 12-24 months.

They also announced finalizing the design work for the modification and commissioning of all eight lime kilns at the Limeco plant, with its technical team assisting the local technical team with upgrade design.

Commissioning of the eight kilns is presumed to commence gradually, Firering Strategic mentioned, with the first two kilns expected to be commissioned during the fourth quarter of 2023.

Firering Strategic noted an estimated limestone stockpile of over 150,000 tonnes available for initial production of quicklime, alongside reopening the existing limestone quarry with an estimated in-situ resource of 73.7 megatonnes of calcium carbonate at 95.3%.

Discussions for quicklime offtake by major copper producers are “advancing”, Firering Strategic added.

“We are excited to announce the successful commissioning of the crushing system that has produced its first aggregate by crushing waste from the waste stockpile at Limeco. Limeco is now in the process of ramping up this aggregate production, which will enhance its cashflow during the kiln modifications and plant commissioning,” said Firering Strategic Chief Executive Officer Yuval Cohen.

“Firering’s decision to enter into the option agreement with Limeco Resources was led by the opportunity to provide our shareholders with exposure to a project that can be brought into production relatively quickly, capable of delivering cash flow in a relatively short space of time. We will continue to update shareholders on the progress made on-site as we work with our partners to advance this quality project to production.”

Shares in Firering Strategic were up 4.1% to 7.60 pence each in London on Wednesday morning.

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Mobius Motors, Stima, One Electric Form Alliance to Improve Green Energy.

Mobius Motors partnered with Stima and One Electric to roll out motorcycles in Kenya in September. This multimillion deal is aimed at spearheading a local motorcycle assembly in Kenya.

The motorcycle sector is one of the biggest vehicle sectors in Africa and as a result, there has been a consciousness of electrifying the motorcycle industry to improve green mobility. There are over 27 million ICE motorcycles registered across Africa and around 80% of them are used in the motorcycle taxi industry.

The cost aspect of the motorcycle business has proven to be a big challenge as many operators face rising costs and dwindling profits due to high operational costs associated with frequent oil changes and maintenance services for internal combustion engine motorbikes, as well as the ever-increasing cost of petrol. This is why the solution of the electrification of the motorcycle taxi industry on the continent is called for.

Through the partnership between the Kenyan vehicle manufacturer, Mobius Motors, battery-swapping technology specialist Stima, and India’s leading electric motorcycle manufacturer One Electric, Mobius Motors will join the existing partnership of Stima and One Electric by taking on the local assembly of the CKD (completely knocked down) kits of One Electric motorcycles, which will be distributed by Stima in the country. The assembly of One Electric motorcycles in Kenya will drive down the cost of electric motorcycles for the Kenyan moto-taxi (boda boda) market while generating employment opportunities and enhancing local value creation.

Stima is a French-Kenyan startup building a SaaS technology platform for battery-swapping systems to support the deployment of electric 2-wheelers in Africa and emerging markets. Since 2021, Stima has refined its battery-swapping software platform in Nairobi, where it manages networks of battery swap stations. Stima is now licensing its proprietary software suite to empower enterprises in deploying scalable battery-swapping systems for electric 2-wheelers in emerging markets.

Mobius Motors, founded in 2011, is a Kenyan company that builds and assembles vehicles under the Mobius brand. Mobius Motors’ vision is to turn around the market from a predominantly used car market to new locally made or assembled vehicles for the same price or less than an equivalent used imported model. Mobius Motors is also preparing next-generation electric vehicles. Formed by Gaurav Uppal and Abhijeet Shah in 2019, One Electric Motorcycle aims to become the market leader in electric motorcycles for the Indian and African markets, in the 100cc up to 180cc segments. They are currently present in and conducting trials in six African countries, India, UAE, and Nepal. With constant R&D in battery, motor, and controller technologies, One Electric is striving to provide the most durable and long-lasting powerful electric motorcycles.

This strategic alliance leverages Mobius Motors’ expertise in local vehicle manufacturing to boost Stima’s deployment in Kenya of One Electric robust, high-performing motorcycles, tailored specifically for the African market. Building on the success of the initial rollout of One Electric motorcycle with Stima battery-swapping systems in Nairobi, this new partnership marks the beginning of the ambitious scale-up phase envisioned by One Electric and Stima.

Following Stima’s official announcement as an assembler of electric motorcycles under the East African Community (EAC) duty remission scheme in July 2023, the inaugural CKD batch of Stima-One Electric motorcycles has been assembled at Mobius Motors’ manufacturing plant, Sameer Africa in Nairobi.

With more than 1.5 million boda-boda riders in Kenya and a national electricity grid supplied with renewable energies by more than 90%, the partnership contributes to the sustainable transformation of the Kenyan transportation sector, fostering local added value and job creation in alignment with the priorities and supportive measures of the Kenyan government. Notably, the partnership will contribute to the nationwide rollout of electric motorcycles, a commitment announced by President Ruto in preparation for Kenya’s hosting of the Africa Climate Week scheduled between September 4th and 8th.

Nicolas Guibert, CEO of Mobius Motors, further says, “Mobius Motors is very excited to start its journey towards electric mobility with Stima and One Electric. We will provide the best of our resources and knowledge to make their proposition a game-changer. Our ambition is to further become a major player in the African sustainable mobility.”

Jason Gras, Co-Founder and CEO of STIMA, adds: “We found in Mobius Motors, the ideal partner to assemble our One Electric motorcycles in Kenya. We are delighted to benefit from their experience of building vehicles designed for the African mass market combined with their impressive Lean Manufacturing-inspired processes. Our collaboration with One Electric and Mobius offers us a great opportunity to implement our battery swapping management software platform at a large commercial scale in East Africa.”

Gaurav Uppal, Co-Founder and CEO of One Electric mentions: “This partnership with Stima and Mobius is key to ensuring that we scale production smoothly as demand is rising. Furthermore, it will be essential in ensuring timely after-sales service, while also contributing to the local economy and job creation. We are excited to position this Partnership as a major milestone in the advancement of E-mobility in East Africa.”

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Ivory Coast: Toumodi Town Hosts First Edition of Nzramah Festival.

The Lake District is believed to have enormous cultural and economic potential. The initiators of the N’Zrama Festival at the stadium in Toumodi, a town in the center of the Ivory Coast, see it as a cultural showcase more than that, it is also an economic pillar providing a solution to unemployment.

In central Ivory Coast, the town of Toumodi hosted the first edition of the Nzrama Festival, attempting to position the Ivorian Lake district as a major economic hub.

This festival which has been dubbed a cultural showcase by its creators, enabled the region’s cooperatives to display their craft, derived from local cultures aiming to source funding to industrialize their labor.

“We’re looking for and finding structures to help us process our products. Because we process our products by hand. If we have someone, a company or the state can help us with the processing,” shares Dorothée Ando, Boutique Manager

“We manufacture cassava and other food products, and we process them, not without difficulty. We lack the proper material. We need help,” added Kouamé Akissi, Cooperative President. 

These requests are at the heart of the Lake District’s new policy, which aims to breathe new life into what was formerly known as the prosperous cocoa loop.

”We have a duty to bring in investors, encourage our people, and help the young, after all, it’s the year of youth, so we must help young people achieve their goals and continue to empower women,” shares Dr. Raymonde Goudou Coffie, Minister-Governor of the Lake District. 

In recent years, the Ivorian government has launched an extensive regional empowerment project. With more than 60% of its land being arable, the Lake District holds an untapped economic potential.

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Moroccan King’s 60th Birthday, Celebrated as Model of Stability.

Morocco’s King Mohammed VI, who celebrated his 60th birthday on Monday 21st August,  has been seen as maintaining effective stability as well as modernizing the economy at home while pursuing assertive diplomacy abroad.

In his most recent speech on July 30, the king called for  the achievement of “new milestones on the path of progress and creating projects of greater scope, worthy of the Moroccan people.”

Since his coronation after the death of his father Hassan II on July 23, 1999, King Mohammed has focused on the economy, foreign affairs, defense, and security in his North African nation.

“While his father was greatly present on the political stage, Mohammed VI’s style seems to differ from that of his father’s. According to political analyst Mohamed Chiker, he prefers to silently steer the ship while controlling the levers of power.” 

The king has supervised the building of major infrastructure and business projects over the years.

These include the Tanger Med industrial port, the gigantic Noor solar power plant, and the Tangier-Casablanca high-speed rail line, alongside developing Morocco’s automotive and aerospace industries, and more recently, so-called green hydrogen projects and the “Made in Morocco” label.

Furthermore, to boost Moroccan soft power abroad, he took the initiative to partner with Spain and Portugal in a joint bid to host the 2030 FIFA World Cup.

On the international stage, Mohammed has diversified partnerships that were once the virtual monopoly of former colonial ruler France and other European countries, embracing a more prominent continental role since Morocco’s return to the African Union in 2017.

The Western Sahara has remained the king’s top foreign policy priority, repeatedly describing the former Spanish colony  as “the prism through which Morocco views its international environment.”

Since 1975, a low-intensity conflict over the contested territory has pitted Rabat against Sahrawi separatists of the Algeria-backed Polisario Front.

Morocco has also secured Spain’s support for an “autonomy plan” that would place the vast mineral-rich desert region under Rabat’s sole sovereignty.

The Polisario has for decades called for a UN-supervised referendum on self-determination.

In December 2020, the United States recognised Morocco’s sovereignty over the disputed Western Sahara. Israel followed suit last month, deepening ties with Rabat and drawing a predictable backlash from Algiers.

He did not only achieve diplomatic wins, but Mohammed also addressed societal inequalities at home, which has earned him the nickname “king of the poor”.

Under his leadership, a long-awaited aid project for Morocco’s most disadvantaged families is expected to be completed by the end of the year.

In 2004, the monarch approved the adoption of a family code aimed at boosting women’s rights.

Over the past two decades, Morocco has also shown a commitment to strengthening women’s representation in all sectors, considering it a priority step towards combating discrimination, exclusion, and marginalization.

The reforms, the king said in July 2022, enshrine “equality between men and women in rights and duties and, consequently, establish the principle of parity as an objective that the state must seek to achieve.”

The king also shed light on the fact that the purpose of the reforms was to allow women to “enjoy their legitimate rights,” reaffirming that in Morocco, “it is no longer possible for women to be deprived of their rights.”

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Angola, South Africa Trade Cooperation Valued at U.S.$29.6 Mln.

The executive director of the Private Investment and Export Promotion Agency (AIPEX), José Sala, said on  Tuesday in Luanda that Trade cooperation between Angola and South Africa, valued at US$29.6 million is below its real potential, 

José Sala added that the two states have the potential to stimulate economic growth and promote regional development, creating more jobs for their citizens.

Speaking to the press on the sidelines of the Angola-South Africa Business Forum, the AIPEX administrator said that the South African investment, valued at US$29.6 million, is the result of seven projects, of which five in the area of service provision, one in the manufacturing sector and another in agro-industry.

In the view of José Sala, Angola, and South Africa should cooperate on a basis of complementarity, with gains for both sides to strengthen the economic and social development of both States.

The AIPEX administrator highlighted that Angola is a significant producer of oil, natural gas, diamonds, and other natural resources, while South Africa has a robust and diversified economy, with a large consumer market, with a developed manufacturing industry.

In this regard, during the 3-day Business Forum, AIPEX and national entrepreneurs will present to the South African business delegation the areas of most outstanding investment opportunities in Angola, with particular emphasis on manufacturing, agribusiness, fisheries, health, and education sectors.

José Sala suggested that the governments and companies of the two countries need to work together to facilitate trade and investment, which also includes improving infrastructure and establishing more cooperation agreements.

At the event, Angola – South Africa Chamber of Commerce representative, Paula Xavier, reported that 26 South African companies have established business in Angola and have created more than 1,000 jobs.

“Angolan entrepreneurs need to look at South Africa as a great partner, together to make the region economically strong,” he said.

Meanwhile, the representative of South Africa (Wesgro), Tatiana dos Santos, indicated that the South African business delegation is made up of 13 business groups from different segments.

“South African entrepreneurs are attending this business forum to establish partnerships and do business, to stimulate trade between the two countries,” said the head of the South Africa delegation.

At the event, the South African ambassador in Angola, orpa Ephraim Monareng, considered the relations between the two states, but “the trade balance is still weak and needs to be driven from forums as today”.

The representative of the United States Agency for International Development (USAID), William Butterfield, invited Angolan entrepreneurs to export to the US through South Africa.

Angola and Africa, members of the Southern African Development Community (SADC), maintain excellent cooperation relations in political, diplomatic, economic, and cultural domains.

In recent years, the two states have reinforced bilateral relations with the signing of various commercial agreements, which include cooperation in the oil sector and the suppression of visas in ordinary passports.

 

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Uganda: Nile Breweries Equip Barley Farmers.

In a bid to expedite financial literacy and inclusion among barley farmers in Kabale and Rubanda Districts, Nile Breweries Limited has equipped over 1,000 farmers in the region with financial literacy skills, this was said in a news release distributed on 21 August.

The training carried out under the theme “Financial Empowerment of Farmers” has seen farmers across the two districts undergo training in financial planning, budgeting, investment, bookkeeping, and saving and credit management skills to qualify them to manage and grow their farming businesses.

While speaking during the training, Emmanuel Njuki, the head of legal and corporate affairs at NBL noted that the training is part of the brewery’s objective to improve the farmer’s standard of living.

“We depend 100% on the farmers for barley, by financially empowering our farmers, we want to ensure that the crop is profitable for them and that the proceeds are well invested,” Njuki said, “Empowering them with financial skills such as budgeting, investments and how to access credit ensures that they are better placed to access better financing to grow their farming businesses,” he added.

Nile Breweries uses homegrown barley, sorghum, maize, and cassava to brew its beers. Currently, the brewer has contracted 25,000 farmers (15,000 for barley and 10,000 for sorghum) in Northern, Eastern, and South-Western Uganda. According to Njuki, the brewery purchases produce worth Shs109.3 billion annually from local farmers.

One of the biggest challenges facing the majority of smallholder farmers is the lack of access to credit facilities.

Bob Mutegeki the NBL Agriculturist Team Leader- South Western region said that the financial literacy training is also geared towards ensuring that the farmers have increased access to credit facilities.

 

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