US agric company Monsanto is committing $50 million over the next ten years to support Africa’s agricultural development and growth.
The commitment will be done through new initiatives – the New Vision for Agriculture Initiative, the Grow Africa Partnership and the G8’s New Alliance for Food Security and Nutrition.
The company’s Chairman, President and CEO Hugh Grant announced this at a full-day symposium, Advancing Food and Nutrition Security at the 2012 G8 Summit, hosted by The Chicago Council on Global Affairs, in collaboration with the World Economic Forum.
As part of its commitment to support food and nutrition security and agricultural development in Africa, Monsanto said it will seek “increased collaboration among farmers, private industry, governments and civil society groups that can fuel the development of innovations to increase productivity while also strengthening the complete African agricultural value chain.”
Hugh Grant said Monsanto as a company, is committed to improving lives through agriculture adding “we stand ready to work together with African leaders to turn their ideas into action with the sense of urgency and scale needed to deliver local solutions to meet our global challenges.”
Monsanto’s support is part of a $3 billion fund pledged by private companies for food security efforts in Africa.
By Ekow Quandzie