Togo: Faure Gnassingbé announces agricultural processing agency

Friday, 29 April 2022 12:56
Togo: Faure Gnassingbé announces agricultural processing agency

(Togo First) - By the end of the year, Togo will have its very own agricultural processing agency, towards accelerating the sector’s development. This was disclosed Wednesday, April 26, by President Faure Gnassingbé, during his address to the nation on the 62nd independence anniversary of the country.

The agency is already being set up, according to the minister of communication Prof. Akodah Ayewouadan. “It will be an institution that will pool resources and impact the sector in a more decisive manner,” Ayewouadan said.

Besides this announcement, the President also revealed that the risk-sharing-based mechanism for agricultural financing (MIFA) would be restructured and have its intervention capacities increased. Authorities will, additionally, focus more on mechanization and irrigation, to boost agricultural yield and productivity.

The initiatives, the West African leader noted, will consolidate Lomé’s agricultural development strategy. 

Agriculture is one of the government’s top priorities. This year, nearly CFA45 billion are expected to be poured into the sector, according to the 2022 provisional budget. The sector employs about 65% of Togo’s active population and contributes more than 40% of the GDP, according to the latest data available.

Esaïe Edoh

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