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Finnfund invests US$15m in African agri supply chain business ETG

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AFRICA – Finnfund, a development financer, has invested US$15 million in a syndicate loan to Export Trading Group (ETG) alongside other investors to enable it further develop its business.
Founded in Kenya in 1967, ETG has emerged as one of Africa’s largest Agricultural Conglomerates with footprints across sub-Saharan Africa, North America, Europe, the Middle East and South East Asian countries.
Globally recognised as one of the fastest growing integrated agricultural supply chain groups, its operations include procurement, warehousing, processing and/or manufacturing of finished goods, transporting and distributing of products and driving brand growth, with most of its footprint in Africa.
It operates in 26 African countries and manages more than 400 warehouses and over 90 processing plants worldwide.
“We are excited to partner with Export Trading Group in Malawi, Mozambique and Tanzania in their agri-commodity trading and processing operations,” said Finnfund’s Associate Director Jari Matero.
“It is important to support the agricultural commodity trade and the supply of key agri-inputs such as fertilizers to local farmers in this challenging situation. Over the past decades, Export Trading Group has played a pivotal role in agricultural development.”
With this long-term financing, the Development Finance Institutions (DFIs) will support major agricultural supply chain of numerous African and Asian countries, which have particularly been affected in this corona pandemic. This contributes to food security for populations in need.
“ETG is proud to partner with four marquee DFIs to provide sustainability linked financing facility”, says Anish Jain, Chief Treasury Officer at ETG.
“This is a unique facility for African agriculture sector that will allow us to enhance collaboration with small-holder farmers to buy the staple food crops and increase farmers’ linkages to international markets. This facility will bring strength to our operations, especially in such challenging times of Covid-19.”
Finnfund (Finnish Fund for Industrial Cooperation Ltd) is a Finnish development finance company that provides long-term risk capital for private projects in developing countries and Russia. By sharing risks with the sponsors, Finnfund seeks to promote investments that are not only profitable but also environmentally and socially sound.
Finnfund invests mainly with Finnish companies but can also finance their local partners, such as long-term customers, suppliers, subcontractors and companies that license technology.
In addition, Finnfund can co-invest with other development finance institutions in projects that do not directly involve Finnish business but that generate significant environmental or social benefits. Renewable energy, forestry and telecommunications are among the industries where Finnfund is eager to co-finance projects with other development financiers.
Original source: FBA

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NGO WORK

No Heritage Without its People: Why Ngorongoro Cannot be a World Heritage Site and an Eviction Zone

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The Tanzanian government, under the guise of “conservation,” restricts Maasai livelihoods and denies access to essential services forcing Indigenous residents away from their ancestral lands and turning their heritage into a playground for safari tourists.

As the 48th Session of the World Heritage Committee begins July 19, UNESCO continues to legitimize the continued forced displacement of the Maasai from Ngorongoro. If UNESCO cannot ensure that the World Heritage designation protects the rights of its Indigenous custodians, then the Committee must remove the Ngorongoro Conservation Area from the World Heritage List.

Increased international pressure is imperative to hold UNESCO accountable and protect the lives and rights of the Maasai!

Read our Open Letter to the World Heritage Committee.

Source: oaklandinstitute.org

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NGO WORK

Rush: Global Scramble for Minerals Wages War on People and Planet

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As governments and corporations scramble to secure critical minerals, a new Oakland Institute report exposes the forces fueling today’s unprecedented mining boom. RUSH: Global Scramble for Minerals Wages War on People and Planet dismantles the dominant narrative that massive amounts of minerals are needed for the energy transition, revealing instead a potent convergence of political, military, and corporate interests racing to control the resources that underpin modern warfare and artificial intelligence.

“Securing access to critical minerals is reshaping international relations and foreign aid as competition between the US and China becomes a new geopolitical battleground,” said Anuradha Mittal, Executive Director of the Oakland Institute. “The costs are being borne by communities around the world as this global race drives wars and violence, results in land grabs, forced displacement, devastating pollution, and the irreversible destruction of lands and livelihoods,” Mittal continued.

With the Pentagon shifting towards an “AI-first” warfighting stance, the US military-industrial complex is rapidly integrating tech and AI firms with a mutual interest in locking down critical mineral supplies. The report exposes key players positioned to profit from a resource boom already drawing trillions in investment. These include ventures tied to the Trump family, billionaire-backed outfits such as KoBold Metals, an AI-driven mining firm supported by Bill Gates, and defense-tech companies like Palantir and Anduril, among others.

To justify a massive scale up of mineral extraction, governments, corporations, and international financial institutions like the World Bank, frame critical minerals as indispensable to the green transition and as a pathway to prosperity for the Global South. However, RUSH documents that more than 70 percent of critical mineral demand today comes from industries unrelated to the energy transition, including the automotive, aerospace, military, communications, and technology sectors. Rapid growth in artificial intelligence, data centers, surveillance technologies, and military spending is expected to increase this demand massively.

“Renewable energy deployment, such as wind and solar, requires only a fraction of the minerals that corporations plan to extract in the coming decades,” said Andy Currier, Oakland Institute Policy Analyst and report co-author. “But growing military demand and stockpiling of materials like copper, lithium, nickel, and cobalt will undermine the energy transition, diverting critical resources away from urgently needed climate solutions,” Currier continued.

RUSH warns that the acceleration of resource extraction poses a catastrophic threat to both ecosystems and human survival. In response, Indigenous groups and frontline communities are leading a vital, global resistance to defend their territories. It is, however, undermined by a dangerous myth that expanding extraction is necessary to fix the climate crisis.

“The report issues a resounding call to challenge this false narrative to stop the untenable rush for minerals before it becomes an irreversible global catastrophe,” warned Oakland Institute Policy Director and report co-author, Frederic Mousseau. “The stakes could not be higher. If left unchecked, the global mining rush will trigger hundreds of new mines in a short period. The resulting human and planetary devastation will be at a scale never seen before – livelihoods will be destroyed, millions will be displaced, and environmental destruction will become irreversible,” concluded Mousseau.

Read the report

Source: oaklandinstitute.org

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NGO WORK

Acholi land dispute threatens Shs3bn govt-backed Cassava Factory in Pader

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Affected residents demonstrate at acholibur town council offices over a disputed 179-acre piece of land earmarked for a government and gulu archdiocese-backed cassava processing factory in pader district.

Pader, Uganda: A protracted land dispute in Acholibur Sub-county, Pader District, is threatening to stall a Shs3 billion cassava processing factory project jointly backed by the Government of Uganda and the Gulu Archdiocese, raising fears over the future of one of northern Uganda’s most significant agro-industrial investments.

The proposed cassava factory, which is being spearheaded by the Gulu Archdiocese with support from the Uganda Development Corporation (UDC), is expected to boost value addition, create employment opportunities and improve household incomes for thousands of cassava farmers across the Acholi sub-region.

At the centre of the dispute is a 179-acre piece of land claimed by two families, the estate of the late Ignatius Lakere Latigo and that of the late Odwong Joseph Lagoro, both of which maintain ownership rights over the property earmarked for the project.

The dispute escalated following a court-directed boundary opening exercise conducted by a joint security team led by Pader Resident District Commissioner Amos Banyizi. Several affected families have since protested the exercise, claiming it was carried out without their knowledge or participation.

Families question boundary exercise

Mr. Latigo Morris, administrator of the estate of the late Ignatius Lakere Latigo, said his family was never notified about the recent boundary demarcation despite earlier agreements that required all stakeholders to be involved.

He recalled that a stakeholders’ meeting held last year, attended by Archbishop Emeritus John Baptist Odama of the Gulu Archdiocese and other parties, had resolved that any future activities on the disputed land would involve all affected families.

According to Morris, his family was shocked to find the RDC accompanied by armed security personnel carrying out activities on land they claim belongs to them.

“We expected dialogue and participation of all stakeholders before any action was taken,” Morris said.

Local leaders have also questioned how the exercise was conducted.

The LCIII Chairperson of Acholibur Town Council, Okumu Robert, said his office was neither informed nor requested to mobilise residents before the boundary opening exercise.

Mr. Ocen Paul, one of the affected stakeholders, appealed to government to intervene, warning that nearly 150 families could lose land if the matter is not handled transparently.

He further alleged that influential individuals could be influencing the ongoing demarcation despite what he described as valid documentation showing that the affected families still hold an active 49-year lease over the land.

Source: dailyexpress.co.ug

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