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Posted date: 2020-Jun-06
Development of an Online input-output market place for youth Agribusinesses within the project â€śscaling up rural youth access to inclusive financial services for entrepreneurship and employment (RYAF)â€ť
The Eastern African Farmersâ€™ Federation (EAFF) was formed in 2001 as a non-political, nonprofit and democratic organization, whose role is to voice the concerns and interests of farmers of the region to enhance their social-economic status and regional cohesiveness.
EAFFâ€™s establishment was championed by national farmersâ€™ organizations from Kenya, Tanzania, Uganda, Rwanda and DR Congo. Membership was subsequently extended to Rwanda, Burundi, Eritrea, Djibouti, Ethiopia and South Sudan. EAFF membership is now composed of 23 farmer organizations serving about 20 million farmers. EAFF is one of the IFAD funded investment projects in East Africa and will benefit directly from the outcomes, results and best practices that will be generated and disseminated in this project.
EAFF secured grant funding from IFAD to implement a youth project dubbed â€śscaling up rural youth access to inclusive financial services for entrepreneurship and employmentâ€™. This project is being implemented in 4 countries i.e. Kenya, Uganda, Burundi and Rwanda.
The overall goal of this project is to enhance the current process of raising capital for poor rural youth enterprises (start-up/existing/scale-ups) by mitigating financial institutions risks, increasing interactions with industry experts, acquiring new knowledge and sharing success stories. One in four businesses generally fail before their second year, and half do not survive beyond the fifth year; a situation experienced by many youth-led agri-enterprises in Kenya, Uganda and Rwanda. This is a growing concern in a countries which has very young population coupled with a high youth unemployment rate. Economically viable agribusinesses could help to address this challenge; thriving youth-led agribusinesses are vital for job creation, make agri-enterprises attractive to the youth and hence could contribute towards alleviating youth unemployment.
Many youth agri-enterprises are confronted with a web of complex challenges that impede their growth, profitability and sustainability. The COVID-19 situation is further aggravating the situation of businesses and thus inhibiting them from reaching their full potential. EAFF has seen the rise of pandemic created trade barriers that inhibit movement of goods or services within the country and across borders. EAFF therefore would like to develop an online market place where youth in agriculture can learn and interact with each other.
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