Togo secures $123 million to transform agriculture sector
Togo has secured a $123 million financing facility to modernize its agriculture sector and boost food security…..
Togo has secured a $123 million financing facility to modernize its agriculture sector and boost food security .
The Africa Finance Corporation (AFC), a pan-African multilateral institution, announced the 10-year facility on Tuesday. The investment will fund the acquisition and distribution of essential farming equipment across the country .
The package includes 2,126 tractors and trailers, 1,020 seeding and harvesting machines, 930 irrigation units, and 95 water supply systems.
This initiative supports the government’s ProMAT program of the Government, which aims to improve productivity and accelerate agricultural commercialization.
Agriculture remains vital to Togo’s economy, employing nearly 60% of the workforce and contributing about 40% of GDP .
However, the sector faces significant challenges. Only 37% of farming households use fertilizer, 8% use improved seeds, and less than 1% have access to irrigation . Just 20% of agricultural output reaches the market .
« Food security has become an increasingly urgent priority for African countries as global supply chains become more volatile and climate-related risks intensify, » said AFC President Samaila Zubairu .
This marks AFC’s first sovereign investment in Togo. The country has 3.6 million hectares of arable land, but currently cultivates only about 1.4 million hectares.
This investment could unlock significant agricultural potential and create jobs in rural areas.
Yann Malick
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