To address economic instability and high levels of unemployment, the Board of Directors of the African Development Fund recently approved a $19.95 million grant for a groundbreaking initiative. This project, titled “Job Creation for Youth and Women in Climate Smart Agriculture Value Chains and Waste Management,” is set to revolutionize the cassava and fisheries value chains in Sierra Leone.
Halima Hashi, the Bank Group’s Country Manager in Sierra Leone, stated that the project is geared at promoting gender equality and economic empowerment. Seventy percent of the project beneficiaries will be women, reflecting a strong focus on empowering women in the agriculture sector.
The primary objectives of the project include:
- Enhancing entrepreneurial skills in smart agriculture and waste-management value chains
- Improving access to funding for micro, small, and medium-sized enterprises (MSMEs), economic groups, and cooperatives led by young people and women
- Expanding market access for youth and women-led MSMEs
- Building institutional capacity to improve the business environment and service delivery for entrepreneurs
- Empowering Women and Youth in Agriculture
- Enhancing Entrepreneurial Skills
A critical component of the project is the enhancement of entrepreneurial skills. The initiative will provide training to 2,500 individuals in the cassava and fisheries value chains, with 70 percent of the participants being women. This training will focus on smart agricultural practices, which are essential for improving productivity and sustainability. Additionally, 1,000 people will receive training in waste-management value chains, further contributing to the development of a sustainable and environmentally friendly agriculture sector.
Improving Access to Funding
Access to funding is a significant barrier for many MSMEs in Sierra Leone. The project aims to improve funding access for 700 MSMEs, which will enable these enterprises to expand their operations and increase their economic impact. By supporting economic groups and cooperatives led by young people and women, the initiative will help create a more inclusive and dynamic business environment.
Expanding Market Access
Market access is another critical factor for the success of MSMEs. The project will facilitate business linkages between 700 MSMEs and large businesses, helping small enterprises tap into larger markets. Moreover, the creation of a digital marketplace will benefit 5,000 smallholder farmers and 4,850 value chain MSMEs, providing them with greater visibility and access to new customers.
Building Institutional Capacity
To ensure the long-term success of the initiative, the project will also focus on building institutional capacity. This involves improving the business environment and enhancing service delivery for entrepreneurs. By strengthening the institutional framework, the project aims to create a supportive ecosystem that fosters innovation and growth in the agriculture sector.