AGCO Signs Agreement with CNFA and Announces 2nd Future Farm

DULUTH, MN, Jan. 18, 2016 — (BUSINESS WIRE) — AGCO (NYSE: AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and solutions, today held its fifth annual AGCO Africa Summit in Berlin, Germany. The Summit is a joint initiative of AGCO, Bayer CropScience, Rabobank and De Lage Landen. The 2016 Summit focused on transforming agriculture in Africa through inclusive and sustainable growth. “Africa’s agricultural revolution needs to accelerate to increase local food security and feed a rapidly growing world population,” said Martin Richenhagen, Chairman, President and Chief Executive Officer of AGCO Corporation. “AGCO has grown its local presence by providing African farmers and African agribusinesses with comprehensive agricultural solutions. Our investments in African agriculture will help to ensure a sustainable food supply and lead to economic growth.” Read more

Pakistan’s agriculture sector is a mainstay of its economy and is critical to future improvements in economic growth, employment, food security and poverty reduction. Over the past decade, an unstable political and security environment has slowed investment and caused the loss of human life and human capital, while major natural disasters have resulted in displaced populations, damaged productive infrastructure, diverted budgets and cutbacks in services. These developments have negatively impacted Pakistan’s economy and the competitiveness of its agricultural sector, as translated by a marked slowdown in GDP growth and a decline in Pakistani exports. Yet Pakistan’s economy is now showing signs of moderate growth, and there is potential to capitalise on this progress over the coming years. Read more

Explore this interactive graphic produced by Farming First and featuring a farmer CNFA is working with through its USAID Agro-Inputs Project in Bangladesh. Read more

USAID, through its Livestock Market Development project, awarded equipment grants for eight businesses operating in the Amhara, Oromia and SNNP regions. The grantees come from diversified areas of the livestock sector including artificial insemination, dairy and feed production, and meat processing. These eight grants, funded by the U.S. Government’s Feed the Future initiative, will encourage local Ethiopian investment and innovation in the livestock sector.

As in many countries, one of the critical constraints for Ethiopian businesses to grow and develop is the lack of capital and finance, especially for businesses with innovative ideas. These businesses often lack collateral and their innovative ideas are viewed as risky. Businesses in Ethiopia’s livestock sector face even greater challenges due to the banking industry’s unfamiliarity with lending to the livestock sector.

The new equipment included mobile abattoirs, trucks, cream makers, and chilling machines, valued at $336,000. Read more