Public Management

ECOWAS closes doors to Mali, the U.S. offers assistance

ECOWAS closes doors to Mali, the U.S. offers assistance
Tuesday, 11 January 2022 17:06

Mali will benefit from $1.9 million, provided by the USAID’s West Africa Trade and Investment Hub (WATIH). The resource will be channeled through the local agribusiness Mali Shi SA and Yolélé, an African food company based in the U.S. that creates income opportunities for smallholders by connecting them with global markets for traditional climate-resilient ingredients like fonio. 

According to available information, the project could generate 13,714 jobs and increase farmers' export revenues by up to $4.5 million. This is a relief for Mali, which is currently boycotted by the regional and international community over delay in elections. Due to conflicts, farmers only have access to 5% of the country’s total cultivable land, estimated at 145.2 million hectares by the IFAD in 2020.

Agriculture is a key contributor to Mali’s GDP, but the sector began to wane with political unrest and reduced funding. Another challenge facing the country is the battle between France and Russia over the Wagner rumor and the announcement of a teachers' strike.

Despite this situation, Frantz Tavares, PPP manager for WATIH, believes that “Mali is full of opportunities to support economic growth through private investment, create long-term jobs for small-scale farmers and increase exports of products such as fonio to the United States.”

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
EU, EBRD launch €26.5 million financing facility in Côte d’Ivoire Program targets SMEs with loans, co-financing and technical support Initiative...
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, interoperable real-time payments All financial...
Okoumé Capital licensed as fund manager by regional regulator Approval enables expansion across Central African financial markets Firm aims to boost...
GIMAC, Visa sign deal to modernize CEMAC payments ecosystem Partnership targets digital payments, interoperability and financial inclusion Move...
Most Read
01

A $147M Novastar Ventures fund backed by major Japanese firms offers co-investment rights int...

Mitsubishi, Toyota Buy Options on Africa's Next Startups
02

ECOWAS and IMF sign cooperation framework to strengthen policy alignment West Africa’s grow...

ECOWAS and IMF Set New Framework to Align Policies Across West Africa
03

West African Development Bank plans CFA6,500 billion ($11.5 billion) in financing for 2026–2030. ...

BOAD Targets $11.5 Billion Investment in WAEMU by 2030 Under New ‘Djoliba’ Plan
04

Coca-Cola will invest $1.03 billion in South Africa by 2030 to expand capacity and distributi...

Coca-Cola Plans $1 Billion Investment in South Africa After Nigeria Push
05

West African Development Bank allocates $131.8 million to support cotton sectors in Burkina F...

BOAD Commits $131.8 Million to Cotton Sector in Burkina Faso and Mali
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.