The Consortium members include Bayer, GrowAfrica, the International Finance Corporation, Rabobank, Syngenta, the World Food Programme and Yara International.
The Alliance for a Green Revolution in Africa (AGRA), has announced a new initiative, the Patient Procurement Platform, with a consortium to unlock income opportunities for smallholder farmers in the developing world during the World Economic Forum in Davos.
The consortium members include Bayer, GrowAfrica, the International Finance Corporation, Rabobank, Syngenta, the World Food Programme and Yara International.
In a blogpost, AGRA said its participation in the partnership is part of its "broader effort to harness the power of private sector ventures to become a force for social change for Africa’s smallholder farmers."
"The Patient Procurement Platform complements and helps expand AGRA’s existing work with African governments and organizations, including small-to-medium sized enterprises and farmers organizations."
"It facilitates access to fair harvest contracts before planting begins, helps farmers obtain the agricultural inputs they need to increase yields, and offers other support, including trainings from consortium members and other providers."
AGRA also said the partnership provides great opportunities for farmers to increase their income and boost food security through planting and harvesting.
“We are excited to be part of this new partnership with the World Food Program because we are committed to making markets and financial systems work for the benefit of African farmers,” said AGRA President Dr. Agnes Kalibata.
“The initiative is attractive to us because it’s trying to build an inclusive business model that places the welfare and success of Africa’s smallholder farmers at the center.”
The platform aims to engage 1.5 million farmers across 25 countries with US$750 million in contracts from a wide array of local, regional, and international buyers over the next three years.