IFC partners with Jubaili Agrotec to enhance food security in sub-Saharan Africa
IFC and Jubaili Agrotec, a Nigeria-based agrochemicals manufacturer and distributor, announced a partnership that will support the company to expand its regional footprint and increase thousands of smallholder farmers' access to key inputs such as fertilizer used to protect crops and increase food production.
IFC's $35 million financing package will help Jubaili expand its production capacity in Nigeria, Ghana, Tanzania and Uganda, helping to offset Africa's reliance on agrochemical imports. Farmers use agrochemicals to protect crops against pests and diseases. With support from the local currency facility of the International Development Association's Private Sector Window, IFC is providing $20 million of the financing in Nigerian Naira.
Rajab Jubaili, Managing Director, Jubaili Agrotec: ''Agriculture is a significant part of many African economies and our partnership with IFC will help us to expand across Africa to reach thousands of farmers, helping them to build more resilience in their crops.''
IFC's financing package will be accompanied by advisory services to support Jubaili to incorporate products that contribute to climate adaptation and climate smart agriculture such as drip irrigation equipment. The advisory work will also support smallholder farmers to integrate sustainable farming techniques and benefit from improved productivity and incomes.
Samuel Dzotefe, IFC's Manager for Agribusiness and Forestry in Africa: ''Our partnership with Jubaili will contribute to improving food production in sub-Saharan Africa at a time when many parts of Africa, and the world, face rising food prices and food shortages. The region is heavily reliant on imported agrochemicals for crop protection and this partnership will improve the competitiveness of local production, thereby bolstering Africa's agricultural resilience.''
IFC's financing and advisory support to Jubaili is part of the organization's broader work in Africa to support sustainable agriculture practices and to develop regional value chains and markets that will support the continent's food security and job creation.