- Expensive loans remain a major issue across populations engaged in agriculture in Nigeria, Tanzania and Zambia.
- Report by Alliance for Green Revolution in Africa (AGRA) says capital injection is a major strategy that agribusinesses use to survive.
- What’s more, agribusinesses are facing high operational costs driven by fuel prices and low profit margins driven by currency devaluations.
The lack of agriculture friendly financial systems saw agribusinesses turn down expensive loans options in the market, with only 15 per cent taking on commercial capital in 2023 and the rest sourcing capital from friends, family and their business savings.
The incentives by government channeled towards agriculture failed to adequately cushion Agribusinesses from economic shocks, a new report by Alliance for Green Revolution in Africa (AGRA) has revealed.
The survey titled Africa Agribusiness Outlook is conducted annually to gain insights into sector’s top priorities, how they are addressing challenges, and what SMEs see …
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