Language version

Business

How Rwanda Plans To Save Farmers From Effects Of #COVID-19

Advertisement

Published

on

Rwanda has announced a comprehensive economic recovery plan and its implementation starts May up to the end of December in the first phase (2020).

This plan includes two-parts, first part consists of; Monetary Policy, Fiscal Policy and interventions in specific sectors such as Agriculture, support to Private sector, Infrastructure projects for growth and jobs, Technology and Innovation plus Mining.

The second part is Social Protection Relief and Recovery Plan to #COVID19 (SP-RRP). It aims at fixing the negative effects on the vulnerability of rural and urban households by providing a packaged approach addressing different needs related to the #COVID-19 crisis.

Ever since the country slid into an almost two-month hibernation period under a #COVID-19 lockdown, all sectors of the economy plummeted, causing devastating effects ranging from massive financial loses, business closures and loss of jobs.

As the country reopens back to normal, with some anti #COVID-19 measures still in place until September, government has come up with a plan to help the economy return on its feet.

This recovery plan estimated at a cost of Rwf800 billion aims at guiding the government on required key interventions across different sectors that would provide support to households and boost employment and growth towards recovery.

“As we adopt the recovery plan, we want to address issues of social protection, agriculture. We need to improve productivity, and food security,” said Uzziel Ndagijimana-Minister for Finance and Economic Planning.

Farmer tending to her beetroot. In the government Economic recovery plan, farmers are advised to consider venturing into vegetable crops during July-September 2020.

How Are farmers Helped?

The country has been experiencing heavy rains that are expected to slow down mid-May and this will lead to transition into the start of a long dry season all through up to almost October.  This means that by now season 2020B is over.

However, before the water in the soils dries up, farmers have an opportunity to plant sweet potatoes and cassava, which are resilient to drought. “The Ministry of Agriculture will provide urea to be used in maize plantations,” according to recovery plan document.

Government also wants farmers to use this period to prepare for season 2020C and says it will provide necessary inputs. Farmers, who are not able to afford seeds and fertilisers, will be supported to access them.

In Season 2020C, Agriculture and Local government ministries will mobilise communities to cultivate all irrigation sites, marshlands and hillsides.

Between July and September- a mostly dry period, the Ministry of Agriculture says it has identified horticulture crops to be considered when valorizing marshland in season C (tomato, onion, eggplant, watermelon, cucumber, lettuce, carrots, French beans etc.). These vegetables will be cultivated on 1,833 ha. There is a need of vegetable seeds equivalent to 17,952 kg.

To valorize these marshlands in season C, the identified area will require 18,330 Kg and 366,600 Kg respectively for organic fertilisers and mineral fertilisers.

Sweet potatoes will be cultivated on 1,000 ha. and needs distribution of 42,000 cuttings, 10,000MT of organic fertiliser and 200MT of mineral fertilisers.

Carrots including other vegetables should be considered for planting in marshlands

2021 Farming Seasons Also Planned For

The recovery plan has detailed arrangements for the 2021A and 2021B seasons. Government has planned that in these seasons it will increase the availability, access and use of inputs (improved seed, fertilizers, lime and water).

On improved seeds, government has a plan of ensuring availability of sufficient quantities of hybrid maize, wheat and soybean seed – and shall be made affordable.

Availability of fertilizers is an important component in realizing good yields in the 2021A and 2021B seasons.

Government says in its economic recovery plan that it will ensure orders and shipment for fertilizers for the 2021 seasons are made on time.

Rwandan farmers under economic categories (Ubudehe 1&2) will receive farm inputs under social protection programs so as to improve their food security situation.

In this recovery plan, farmers are required to use lime. The government says it will ensure there are no delays in procurement and delivery of lime to farmers in need. Small-Scale irrigation programs will receive support too.

According to government, it is projected that the food reserve should store an equivalent of maize and beans for 10% of the population at 2,500Kcal per person per day.

This shall be achieved by increasing resources for National Strategic Reserves to stock food, by supporting the districts to establish their own district food reserves and mobilising farmers to have community stores as well as storage facilities at the household-level.

Small scale irrigation projects will receive support from government to maneuver through the effects of Covid-19

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Ecobank Transnational Incorporated Lists On LSE For US$350M

Published

on

Ecobank Transnational Incorporated (“ETI”), the Lomé based parent company of the Ecobank Group (www.Ecobank.com), was hosted today by the London Stock Exchange for a market opening virtual ceremony to celebrate the successful listing of the Tier 2 Sustainability Notes on the London Stock Exchange (LSE) main market.

This represents the first ever Tier 2 Sustainability Notes by a financial institution in Sub-Saharan Africa.

This Tier 2 issuance is the first to have a Basel III-compliant 10NC5 structure outside of South Africa in 144A/RegS format and is now listed on the main market of the London Stock Exchange.

The bond, which matures in June 2031, has a call option in June 2026 and was issued with a coupon of 8.75% with interest payable semi-annually in arrears.

An equivalent amount of the net proceeds from the notes will be used by ETI to finance or re-finance, new or existing eligible assets as described in ETI’s Sustainable Finance Framework, available at https://bit.ly/3j4xrlb on which DNV issued a Second Party Opinion.

Investor interest for this Sophomore Eurobond issue was global, including United Kingdom, United States, Europe, the Middle East, Asia and Africa, achieving a 3.6x oversubscribed orderbook, of over US$1.3 billion at its peak.

Ade Ayeyemi, Group Chief Executive Officer of ETI, stated: “The strong global interest in our issuance reflects investors’ confidence in Ecobank’s strategy and our commitment to sustainable financing. We thank the LSE for hosting ETI today and look forward to value creation for all our stakeholders. ”

The Joint Lead Managers and Bookrunners in the transaction were Citi, Mashreq, Renaissance Capital and Standard Chartered Bank.

Continue Reading

Business

Botswana Finds Another Diamond Larger than 1000ct

Published

on

Botswana has delivered another diamond at 1 174.76 ct from Karowe mine a producer of high-quality rough diamonds.

It is the third diamond weighing more than 1,000 ct to be recovered from the South Lobe of the AK6 kimberlite since 2015.

In recent years, Lucara had recovered the 1,758 ct Sewelô and the 1,109 ct Lesedi La Rona diamonds from the South Lobe.

Lucara’s latest find also follows hot on the heels of the recovery of a 1,098 ct diamond by Debswana at its Jwaneng mine, in Botswana.

When Debswana announced the find on June 16, that diamond was said to be the world’s third-largest.

The 3,106 ct Cullinan diamond recovered in South Africa in 1905 is the largest diamond ever to be recovered.

“Lucara is delighted to be reporting another historic diamond recovery and its third diamond over 1,000 ct – a world record for Karowe.

“Although complex, these diamond recoveries do contain large domains of top-colour white gems that will be transformed through our partnership with HB Antwerp into valuable collections of top-colour polished diamonds, very much in high demand in the market today,” comments Lucara CEO Eira Thomas.

Lucara notes that the 1,174 ct diamond was recovered in the Mega Diamond Recovery XRT circuit at Karowe.

“On the same production day, several other diamonds of similar appearance – a 471 ct, a 218 ct and a 159 ct – were recovered at the main XRT circuit, indicating the 1,174 ct diamond was part of a larger diamond with an estimated weight of more than 2,000 ct,” the company points out.

Continue Reading

Business

Swiss Glencore Plc Hints On Reopening Idle Cobalt Mine In DRC

Published

on

Glencore Plc could reopen its Mutanda Mining copper and cobalt project in Democratic Republic of Congo by the end of 2021, about two years after idling the mine.

Congo’s new mines minister, Antoinette N’Samba Kalambayi met with representatives from the Swiss company Monday to discuss the restart of the mine, which closed in November 2019, the ministry said in a statement sent to reporters.

Mutanda “will start the commissioning of operations towards the end of this year in order to allow the return to production in 2022,” Glencore said in a separate emailed statement.

A reopening of Mutanda, one of the world’s biggest cobalt mines, comes when there’s renewed demand for battery metals as automakers focus on metal-intensive electric vehicles and global economies shift away from fossil fuels in favor of cleaner technologies that use electricity for energy.

Cobalt and copper are key metals in that transition.

Glencore said in August 2019 that it would close the mine for two years to carry out care and maintenance after prices of cobalt slumped.

Mutanda was responsible for a fifth of global cobalt production in 2018, according to Darton Commodities Ltd., a U.K.-based firm that specializes in the metal.

bloomberg

Continue Reading
Advertisement

Canal+ Advert

Canal+ Advert
Advertisement
Advertisement
Advertisement

Trending