Rwandan youth in agribusiness could soon start receiving equity funding following an agreement between the Food and Agriculture Organization of the United Nations (FAO) in Rwanda and JR Farms Limited to develop youth-led agriculture enterprises.
JR Farms is a Rwandan-led agri-enterprise operating in Rwanda, Nigeria, and Zambia in the areas of food processing and retailing, agro commodity trading, and consulting.
The firm's corporate goals include working to ensure food security, end hunger in Africa, and create decent jobs for Africa's women and young people.
The equity funds are expected to be provided, through JR Farms' Green Agribusiness Fund (GAF), to selected youth-led agribusinesses involved in different agri-food value chains.
Equity Funding allows start-ups and businesses to access capital for a stake of their businesses.
The project seeks to provide $5,000 equity funding to each beneficiary.
This initiative will promote agribusinesses focusing on priority aspects of agriculture such as post-harvest losses, climate smart farming, urban farming, seed and soil improvement, precision farming, access to markets, agro commodity trading, and others.
The young agri-preneurs will also benefit from training and capacity development opportunities and be introduced to wider networks of fellow agri-preneurs.
The support comes amid the COVID-19 pandemic effects, with agri-preneurs needing recovery funding.
