Togo seeks CFA1,800 billion to develop four agricultural sectors by 2030

Investments

Tuesday, 29 June 2021 14:19

Togo seeks CFA1,800 billion to develop four agricultural sectors by 2030

(Togo First) - To develop the poultry, corn, rice, and tomato sectors by 2030, Togo greenlit last week a strategy that requires CFA1,800 billion.

This plan should raise corn yield per hectare from 1.23 metric tons now to 6 metric tons while expanding cultivated areas dedicated to the crop to 35,000 ha for a yield of 211,000 t. According to the FAO which led the plan’s elaboration, this ambition requires CFA147 billion.

Regarding rice, the country aims to increase its output to 817,004 t by 2030. To do so, it needs CFA987 billion. Outputs of tomatoes and poultry should respectively reach 234,430 t (half of which will be processed) and 30,000 t. To reach these targets, Lomé plans to mobilize CFA235 billion and 430 billion for each of these sectors.

Raising these funds will require an exemplary public-private partnership, said Djiwa Oyetounde, FAO’s head of mission in Togo. He added that developing these four sectors “is a good approach to stimulate growth in rural areas and improve the livelihoods of populations.”

Besides aligning with the IFAD-backed initiative to support the Agricultural Financing Incentive Mechanism (ProMIFA), the project falls under the second axis of the National Development Plan (PND 2018-2022). That axis focuses on developing agricultural transformation, manufacturing, and mining activities.

Esaïe Edoh

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