News

British International Investment (BII), a valued Strategic Partner of the Commonwealth Enterprise and Investment Council (CWEIC), has released a vital report titled “How can gender- and climate-smart approaches unlock financing for SME agribusinesses in West Africa?”. Funded by BII Plus, this report is a significant step towards addressing the critical challenges facing small and medium-sized agribusinesses in West Africa.

Agriculture, forestry, and fishing play an essential role in the region’s economy, providing jobs for 82 million people and making substantial contributions to GDP. SME agribusinesses, in particular, are the lifeblood of this sector, offering pathways out of poverty for smallholder farmers and low-skilled workers through increased income and employment opportunities. They also play a crucial role in fostering inclusivity, especially for women and youth, who make up 40-60% of the formal agriculture workforce.

However, these businesses face significant challenges, particularly in accessing the finance needed for their sustainability and growth. The estimated annual financing gap for SME agribusinesses across sub-Saharan Africa is a staggering $74.4 billion. This gap is further exacerbated by the growing impacts of climate change on food production in the region, making it imperative for agribusinesses to adapt and thrive in the face of evolving climate risks.

BII’s report is a timely and valuable resource, offering financial service providers insights into identifying credit opportunities within the food and agriculture sector through gender- and climate-smart approaches. By developing the local lending market and enhancing access to finance, the report aims to support the sustainable growth of SME agribusinesses across West Africa.

Find the report here.