WEF_GrowAfrica_AnnualReport2014

2013 in Review 2013 in Review
LETTERS OF INTENT
The Year in Numbers
2013 action for transformation
A selection of companies engaging in each country have outlined their investment plans by signing “Letters of Intent”.
For 2013, the following statistics aggregate any data shared by these companies in the spirit of mutual accountability.”
16 Companies have
Letters of Intent (LoIs)
IMPLEMENTATION PROGRESS REPORTED
0% Complete
0% Performing well
27% On plan
15 of 16 companies provided data.
40% Minor problems
27% Major problems
7% Cancelled
Planned investment
estimated at $35 million
7 of 16 companies provided data.
Leadership and alignment
•¡
Continuous support from sector Ministers
since completion of country CAADP
investment plan METASIP in 2010.
•¡
A multi-stakeholder working group has
been meeting at least quarterly since 2011.
•¡
Momentum of initially strong initiatives
has flagged, mainly due to a lack of clarity
on measures needed for real action and
limited systematic coordination between
lead government agencies and other key
players.
•¡
Major interest from local companies to work
through the Private Enterprise Federation
(PEF) to establish collaborative publicprivate
dialogue and connect with potential
investors.
•¡
Efforts to identify value-chain gaps and
corresponding business and partnership
opportunities are underway, with initiatives
such as GCAP instrumental in promoting an
improved enabling environment.
Risk mitigation and financing
•¡
The current macroeconomic state makes
access to the many local financing
opportunities challenging, while alternative risk
products introduced are still in nascent stages.
•¡
Prototype financing instruments are
available through various projects, with
MOFA currently undertaking a stock-take to
review and harmonise these. These efforts
are additional to on-going advocacy for an
agriculture fund and value-chain analysis
directed at informing value-chain financing.
$56 million of investments made in 2013
$53 million of capital expenditure.
$3 million of operating expenditure.
9 of 16 companies provided data.
OUTCOMES REPORTED FOR 2013
1,825 jobs created:
168,000 smallholders reached:
Strategy setting
•¡
Priority value chains identified in line with
METASIP and policy directions to pursue
food security-enhancing and incomegrowth
commodities.
•¡
Existing technical and financial resources
from MOFA and other government agencies
and partners need additional boost to
enable implementation of the CAADP
Compact, the New Alliance Framework, and
the METASIP Steering Committee’s annual
work plan.
•¡
Increased government support to facilitate
private-sector investment in agriculture
could also make a valuable contribution
towards achieving CAADP goals.
Infrastructure and policy
•¡
Some physical infrastructure is in place in
large and small irrigation facilities, with other
opportunities offered by existing projects.
•¡
The National Development Planning
Commission (NDPC) and Ministry of
Finance have launched plans for developing
fully-serviced agriculture estates; NDPC is
also facilitating the formulation of a national
infrastructure plan.
•¡
Physical infrastructure remains a challenge,
though efforts under GCAP and Power
Africa will serve to address some energyrelated
and smaller infrastructure needs.
Delivery and implementation
59% 41%
6 of 16 companies provided data, of which
67% was gender disaggregated.
16% 84%
56,331 with services
23,579 with sourcing
21,326 with production contracts
82,099 with training
34,966 unspecified
Investment pipeline
•¡
Though many investments (including
outside Grow Africa’s scope) are likely in
the pipeline, a clearly identifiable process to
attract and follow through on opportunities
is lacking.
•¡
Clearer orientation is needed to move
beyond a tendency towards pursuing
discrete projects, and refocus on identifying
and packaging potential PPP opportunities.
•¡
MOFA’s Policy and Planning Department
plays an important coordination role, as
well as managing a sector M&E framework
for generating several high-profile progress
and trends reports (e.g. ReSAKSS), but
would benefit from improved technical and
logistics capacity.
•¡
With the Agriculture Sector Working Group
focused on coordinating policy, the Ghana
Investment Promotion Centre (GIPC) not
primarily concerned with agriculture, and
MOFA’s newly-established Agribusiness
Unit yet to be road-tested, there remains a
lack of targeted coordination on investment.
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Ghana
10 of 16 companies provided data, of which
40% was gender disaggregated.
Ghana
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