{"id":25199,"date":"2022-05-19T15:54:28","date_gmt":"2022-05-19T15:54:28","guid":{"rendered":"https:\/\/www.withinnigeria.com\/broadnews\/?p=25199"},"modified":"2022-05-19T15:54:28","modified_gmt":"2022-05-19T15:54:28","slug":"heifer-intl-announces-3-5m-for-tractor-financing-in-africa","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/broadnews\/2022\/05\/19\/heifer-intl-announces-3-5m-for-tractor-financing-in-africa\/","title":{"rendered":"Heifer int\u2019l announces $3.5m for tractor financing in Africa"},"content":{"rendered":"
\n

Heifer International on Wednesday announced additional investment of $3.5 million into its tractor financing initiative in Africa to promote agricultural development on the continent.<\/p>\n<\/header>\n

\n

Heifer is an international development organisation working to end hunger and poverty globally in a sustainable way by supporting and investing alongside local farmers and their communities<\/p>\n

Its President, Mr Pierre Ferrari, made this announcement while interacting with newsmen in Abuja.<\/p>\n

According to him, the organisation\u2019s investment in tractor financing in Africa is totalling $4.5 million after its $1 million offering to Hello Tractor initiative in April.<\/p>\n

Hello Tractor\u2019s innovative Pay-As-You-Go (PAYG) Tractor financing for agri-entrepreneurs<\/strong><\/a> was launched on April 28, in Abuja.<\/p>\n

Ferrari said that the fund would provide access to tractor services to 872,250 smallholder farmers at an affordable rate.<\/p>\n

He said that the effort would also boost farm productivity, employment, food security and farmer livelihoods over the next 10 years.<\/p>\n

According to him, the investment will as well create 6,979 new jobs as booking agents, tractor operators, technicians and tractor owners in the next 10 years.<\/p>\n

\u201cHeifer International investments in tractor financing support increased mechanisation of smallholder farmers, promote increased food security and entrepreneurship across Africa.<\/p>\n

\u201cThe investment is being deployed through Heifer International\u2019s Tractors for Africa project.<\/p>\n

\u201cIncreased mechanisation and tractors in particular are vital as smallholder farmers scale- up their production and build profitable and sustainable farming businesses.<\/p>\n

\u201cWe are particularly impressed by Hello Tractor\u2019s Pay-As-You-Go tractor financing model, an innovation that emerged from the AYuTe Africa Challenge, an agritech competition for young entrepreneurs run by Heifer International,\u2019\u2019 he said.<\/p>\n

Ferrari said he was impressed with the enthusiasm shown by smallholder farmers, booking agents, tractor operators and tractor owners to transform the agricultural landscape in Nigeria and other African countries.<\/p>\n

Mrs Adesuwa Ifedi, Heifer\u2019s Africa Programme President, said in 2021 it created\u00a0 AYuTe Africa Challenge which awarded cash grants annually to promising young agritech innovators across Africa.<\/p>\n

Ifedi said that\u00a0 AYuTe also supported its goal of helping over six million African farmers earn sustainable living income by 2030.<\/p>\n

\u201cThe AYuTe Africa Challenge $1 million award enabled Hello Tractor to finance 17 tractors for 17 entrepreneurs in three countries such as Nigeria, Kenya and Uganda.\u201d<\/p>\n

Ifedi said Africa had the lowest number of tractors per farmer globally adding that, as a result, yields per hectare were low.<\/p>\n

\u201cSmallholder farmers do not have access to tractors and that is something we aim to change.<\/p>\n

\u201cWe encourage our partners and the donor community to join Heifer International on this journey.<\/p>\n

\u201cHeifer International\u2019s Tractors for Africa project aims to deploy 50,000 tractors servicing more than 90 million smallholder farmers across Africa, improving their incomes, while creating more than 500,000 jobs.<\/p>\n

\u201cSince 1944, Heifer International has worked with more than 39 million people around the world to end hunger and poverty in a sustainable way,\u2019\u2019 she said.<\/p>\n

Mrs Randi Hedin, the Board Chairman, said that the board was committed to working on the continent to fulfill the mission of Heifer International.<\/p>\n

Hedin said that its aim was to end poverty and hunger adding that the board would ensure that its mission was achieved.<\/p>\n

Chief Operating Officer, Hello Tractor, Mr Folu Okunade, said that the organisation was committed to collaborating with Hiefer to support smallholder farmers in the continent.<\/p>\n

Okunade said that Hello Tractor was one of the new agritech start-ups emerging across the continent that were finding business opportunities in addressing farming challenges.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Heifer International on Wednesday announced additional investment of $3.5 million into its tractor financing initiative in Africa to promote agricultural development on the continent. Heifer is an international development organisation working to end hunger and poverty globally in a sustainable way by supporting and investing alongside local farmers and their communities Its President, Mr Pierre […]<\/p>\n","protected":false},"author":4,"featured_media":25301,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"footnotes":""},"categories":[7],"tags":[5242],"class_list":["post-25199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-heifer-international"],"yoast_head":"\nHeifer int\u2019l announces $3.5m for tractor financing in Africa » BROAD NEWS \u2014 WITHIN NIGERIA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/broadnews\/2022\/05\/19\/heifer-intl-announces-3-5m-for-tractor-financing-in-africa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Heifer int\u2019l announces $3.5m for tractor financing in Africa\" \/>\n<meta property=\"og:description\" content=\"Heifer International on Wednesday announced additional investment of $3.5 million into its tractor financing initiative in Africa to promote agricultural development on the continent. 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