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Sudan: African Development Bank Group commits nearly $74 million to boost wheat production

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3 years ago

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Sudan

Agriculture is the backbone of the Sudanese economy, accounting for 60% of total national exports and generating a third of its gross domestic product

ABIDJAN, Ivory Coast, December 13, 2022/APO Group/ — 

The Board of Directors of the African Development Bank Group (http://www.AfDB.org) on 9 December 2022 in Abidjan approved $73.81 million to finance the Sudan Emergency Wheat Production Project under the Bank’s African Emergency Food Production Facility.

Agriculture is the backbone of the Sudanese economy, accounting for 60% of total national exports and generating a third of its gross domestic product. It employs more than half of the country’s workforce.

Sudan, the third largest country by land area, has long suffered from extreme food insecurity due to multiple factors, including economic decline and hyperinflation, conflict-induced population displacement, and poor agricultural harvests.

This situation has worsened in the wake of the current global food and energy price hikes which also hit the country severely. Sorghum and millet prices have jumped by 150-200% since 2021while wheat prices have soared almost three-fold. This is because 60-70% of wheat consumed in Sudan is imported, mainly from Russia and Ukraine. Fertilizer prices have also tripled, as has energy, thus fuelling inflation.

Sudan, with the largest irrigated area in sub-Saharan Africa, has enormous potential not only to become self-sufficient in wheat, but also to become an exporter

The funds from the African Development Bank will help procure at large scale and deliver certified seeds of climate-adapted varieties, fertilizers, and extension services for smallholder farmers. The project is expected to more-than-double wheat́ production from 630,000 tonnes currently to 1.52 million tonnes in two years. Some 400,000 smallholder farming households, 40% of them women, will benefit from the scheme. Nearly 800,000 casual workers will also benefit from the spin-offs along the wheat́, seed, and fertilizer value chains.

“Sudan, with the largest irrigated area in sub-Saharan Africa, has enormous potential not only to become self-sufficient in wheat, but also to become an exporter,” says Nnenna Nwabufo, African Development Bank’s Director General for East Africa.

The project targets small-scale farmers, seasonal workers, seed producers, and agricultural traders in Sudan’s main wheat-growing regions, such as Al-Jazira, New Halfa, Upper Nile, and White Nile, which have large irrigated areas and are more resilient to climate change.

The World Food Programme in Sudan will implement the project.

“The Sudan Emergency Wheat Production Project (SEWPP) will benefit from the spillovers and lessons learned from previous projects the Bank has financed in the country,” said Mary Monyau, the African Development Bank’s Country Manager in Sudan. Notable among the successful projects is the Technologies for African Agricultural Transformation (TAAT) Wheat initiative (2018-2021), which has revamped the Sudanese wheat́ sector and increased yields from 1.5 to 2.3 tonnes/hectare and production from less than 350,000 tonnes to 1.1 million tonnes in just five years (from 2014 to 2019).

The Bank launched the $1.5 billion African Emergency Food Facility in May 2022 to help African countries avert an imminent food crisis due to the disruption of food supplies resulting from the war in Ukraine.

The Bank currently has 19 operations in Sudan, with a total commitment of $486.2 million. The agriculture sector is the largest beneficiary, with $272.3 million in investments (56% of the portfolio).

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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2 days ago

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February 6, 2026

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Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Business

Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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3 days ago

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February 6, 2026

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CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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3 days ago

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February 6, 2026

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ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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