AGRA has released the third edition of the 'African Agribusiness Outlook Report', revealing the impact of the "Triple Crisis"—COVID-19, climate change, and the Russia-Ukraine conflict—on small and medium-sized agribusinesses in Nigeria, Zambia, and Tanzania. The report, jointly produced by AGRA and IPSOS, surveyed 1,623 small and agribusinesses in the rice, maize, and tomato value chains in Nigeria, Zambia, and Tanzania, and the soybean, maize, and tomato value chains in Zambia. The study found that 58% of SMEs surveyed experienced substantial revenue declines of 20% or more during the triple crisis period. The report recommends more focused investment and support to improve the quality and quantity of produce at the farmer level, adopting policies that encourage the development of financial products specifically tailored to the agricultural sector, and improving financial policies to enhance access to affordable credit.
AGRA has released the third edition of the 'African Agribusiness Outlook Report', revealing the impact of the "Triple Crisis"—COVID-19, climate change, and the Russia-Ukraine conflict—on small and medium-sized agribusinesses in Nigeria, Zambia, and Tanzania. The report, jointly produced by AGRA and IPSOS, surveyed 1,623 small and agribusinesses in the rice, maize, and tomato value chains in Nigeria, Zambia, and Tanzania, and the soybean, maize, and tomato value chains in Zambia. The study found that 58% of SMEs surveyed experienced substantial revenue declines of 20% or more during the triple crisis period. The report recommends more focused investment and support to improve the quality and quantity of produce at the farmer level, adopting policies that encourage the development of financial products specifically tailored to the agricultural sector, and improving financial policies to enhance access to affordable credit.