By Modupe Gbadeyanka

A working capital loan of up to $15 million has been given to Robust International by Swedfund to support food processing and smallholder farmers in Africa.

The credit facility is to ensure food security and an increased local processing capacity on the continent.

It was stated that the loan would enable Robust to source local commodities to new processing facilities and thereby spur job creation, economic growth and trade.

The company will buy sesame seeds and cashew nuts directly from cooperatives, aggregators and farmers locally to support operations at its new processing facilities in Côte d’Ivoire, Mozambique and Burkina Faso.

The $15 million funding is part of a joint initiative together with the Dutch, British and French development finance institutions and the Dutch fund manager, ILX.

Robust is a multi-national trader of agricultural commodities, specialising in sesame seeds and cashew nuts, sourcing primarily from East and West Africa.

Swedfund now joins FMO (the Dutch entrepreneurial development bank), British International Investment (BII), Proparco and ILX, the Dutch fund manager, to further support the development of enhanced local processing. The total working capital facility amounts to up to $105 million.

Africa exports many agricultural products for processing and refining. Robust now takes the step to do this locally instead, leading to job creation, development of the local supply chains, increased capacity and lower emissions.

The organisation has a strong focus on human rights and decent conditions for workers and farmers in their supply chain.

“Through the working capital facility, we offer funding where local banks are not able to,” the Head of Sustainable Enterprises and Food Systems at Swedfund, Sofia Gedeon, said.

By Adedapo Adesanya

The United Nations Children’s Fund (UNICEF) has launched an urgent appeal for $22 million to provide emergency assistance to children in eastern Democratic Republic (DR) of Congo amid spiralling violence.

Business Post reports that fighters from the M23 rebel group allegedly backed by Rwanda have taken control of most of Goma – a major city of more than a million people in the east of DR Congo.

The mineral-rich east of the Democratic Republic of Congo has been dogged by conflict for more than 30 years, since the 1994 Rwandan genocide.

Numerous armed groups have competed with the central authorities for power and control of the potential fortune in this vast nation.

With the latest spate of escalation, UNICEF in a statement noted that it is gravely concerned about the rapidly deteriorating humanitarian situation in eastern DR Congo.

“An additional 658,000 people became displaced in North Kivu and South Kivu provinces in the past three months alone, at least 282,000 of them are children,” it said in a statement.

Amidst the increasingly volatile situation, with fighting moving into Goma, the provincial capital of North Kivu, families have abandoned displacement camps on the northern and western outskirts of the city and moved to other locations in the centre of town.

Some of these people are moving for the third, fourth or even fifth time in recent weeks, UNICEF said.

According to Mr Jean Francois Basse, UNICEF DRC’s acting Representative, “The situation in Goma is extremely grave and further complicating a humanitarian situation that was already beyond dire.

“People have been exposed to traumatic events, and they are hungry, thirsty and exhausted. Families are sheltering in place to avoid being caught up in the violence. Electricity, water and internet have all been cut. It’s hard to overstate how deeply children and their families are suffering.”

“Ultimately, we need parties to the conflict to put an end to the military escalation, which is exacerbating the suffering of children and worsening the already appalling humanitarian conditions,” Mr Basse added.

For UNICEF, children are at high risk as crowded and unsanitary conditions make the spread of diseases – such as cholera, measles and mpox – all the more likely.

“Parents are unlikely to take sick children to hospitals for fear of being caught in the crossfire and because they know there are no beds,” it added.

It also warned about the danger of kidnapping and abduction, recruitment by armed groups, and sexual violence.

“UNICEF is calling for $22 million to continue delivering life-saving support which includes the provision of clean water and proper sanitation, medications and medical supplies, treatment for children who are severely malnourished, and protection services,” the UN agency added.

By Adedapo Adesanya

The Economic Commission of West African States (ECOWAS) has officially recognised the exit of three of its former members Burkina Faso, Mali, and Niger Republic. This became effective today, January 29, 2025, upon the expiration of a one-year notice period.

However, the West African regional bloc says in “the spirit of regional solidarity”, member countries must still recognise the national passports of the three exiting countries bearing the ECOWAS logo until further notice.

This means free trade can continue with the three states under military rule and free movement will happen without visas.

In a statement seen by Business Post on Wednesday, ECOWAS, which is under the Chairmanship of Nigeria’s President, Mr Bola Tinubu, said its doors remain open for more engagements with the three countries and thus requested its member states to:

“a) recognize National passports and identity cards bearing ECOWAS logo held by the citizens of Burkina Faso, the Republic of Mali and the Republic of Niger, until further notice.

“b) continue to treat goods and services coming from the three countries in accordance with the ECOWAS Trade Liberalization Scheme (ETLS) and investment policy.

“c) allow citizens of the three affected countries to continue to enjoy the right of visa-free movement, residence and establishment in accordance with the ECOWAS protocols until further notice.

“d) provide full support and cooperation to ECOWAS officials from the three countries in the course of their assignments for the Community.”

“These arrangements will be in place until the full determination of the modalities of our future engagement with the three countries by the ECOWAS Authority of Heads of State and Government.

“The commission has set up a structure to facilitate discussions on these modalities with each of the three countries. This message is necessary to avoid confusion and disruption in the lives and businesses of our people during this transition period,” the statement concluded.

Recall that the trio of Burkina Faso, Mali, and Niger Republic formally notified ECOWAS of their plan for an “immediate” withdrawal in January 2024, citing the organisation’s excessive dependence on France in particular.

However, ECOWAS requires one year’s notice for the departure to be effective, which has now elapsed.

The three countries, which are former colonies of France, have lamented the excesses and involvement of the European country on its affairs and resources. It has since built new relationships with Russia, Turkey and Iran.

The three Sahelian countries have teamed up to form a separate confederation called the Alliance of Sahel States (AES).