EU Launches $47 Billion Fund for Africa’s Economic Development

The European Union (EU) has launched a €44 billion ($47.46 billion) Africa Economic Development Fund aimed at helping Nigeria and other African countries drive economic growth and development.

The Fund, which would be made available for disbursements in .0first quarter 2018 as credit money, was designed to help developing economies cover identified risks to attract foreign direct investments as well as assist the digital industry in Nigeria which the EU sees as one of the areas with the strongest growth potential.

Cros Agro Invests in Potato, Coffee, Oil Palm Plantations in Kaduna State

Cros Agro Allied Limited, a BlackPace company, is making huge strategic investment in potato, oil palm, coffee and ginger production in Nigeria to create employment opportunities and boost agriculture in both Kaduna and Plateau States respectively. With various farms in Gurara, Kachia, Mangu and Kafanchan areas, the firm is diversifying its agribusiness aggressively.

Leading the way in the production of the Irish potato value chain, Cros Agro is investing in the critical enabling components that ensure long time sustainability of the industry. The firm currently owns 700 hectares of oil palm plantation with additional 6,000 hectares underway, 1,500 hectares of ginger farm, 1,200 hectares of potato field and 10 hectares ready for processing facility in Gurara.

The company currently employs close to 60 farmers and will create additional 250 direct jobs immediately its potato processing plants resume in 2018. Its goal is to support socio-economic development of rural Nigeria while improving on quality of life.

In addition to boosting its processing business in the Potato Value chains, Cros Agro has reached an agreement with Rosenqvists Food Technologies to supply its 5,000 kg an hour French Fries and Potato Flakes processing plants. The plant will be completed in December 2017 and unveiled for operation in April 2018.

Taiwan Professionals Provide Free Services in Cross River State

Over 30 Taiwan health professionals are in Nigeria to offer assistance on different health challenges in communities in Cross River state.

On the invitation of the Cross River state government, the team under the umbrella of Taiwan Root Medical Peace Corps, would be in the state for two weeks attending to patients.

The mission of the visit, beyond rendering free services, also includes fostering stronger bilateral ties between Taiwan and Cross River state.