The Africa Fertilizer Financing Mechanism (AFFM), based in Côte d'Ivoire, has secured a 10 million Canadian dollars ($7.3 million) funding commitment from Global Affairs Canada, aimed at enhancing food production and increasing income for about eight hundred thousand smallholder farmers across Africa. This financial boost is part of a strategic initiative to empower fertilizer importers and aggregators with access to credit to ensure broader distribution and use of fertilizers across the continent.
The AFFM, an African Development Bank Group fund, focuses on supporting fertilizer manufacturing, procurement, distribution, and use, replicating credit guarantee programs to enable access to products on credit, ultimately aiming to improve soil health and provide technical assistance to farmers.