Across the world, agriculture is the mainstay of many economies. Apart from ensuring food security for populations, it provides jobs in huge numbers and accounts for a significant proportion of the GDP of most countries. Investment in agriculture is, therefore, a prerequisite for any country that wants to make social progress and achieve economic development. In Nigeria and in some other African countries, the Mastercard Foundation has, in the last few years, been involved in facilitating agricultural ventures across the continent. Set up in 2006 by Mastercard International but it operates independently under the governance of its own Board of Directors, the foundation arrived in Nigeria in 2019 with a team from Canada.
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The Director of the EDC, Pan-Atlantic University, Peter Bankole, revealed this development on Monday.
Since October 2020, when it began production and distribution, the initiative has led to the creation of 276 jobs across the production value chain with an 80% increase in the employment for women in these positions.
Robin L. Washington was appointed to the Board and long-time Board member President Festus G. Mogae will be retiring.
Launched on April 1, 2021 in Johannesburg, South Africa, Ananse Africa is designed to showcase Africa’s rich and creative talent, as well as simplify international ecommerce payments and logistics for creative entrepreneurs on the continent.
Bukola Awosanya, the Group Head, Agric Finance and Solid Minerals Financing for Sterling Bank, said in a statement in Lagos that SWAY-AgFin was designed by the Bank in collaboration with MasterCard Foundation.