Southern Agricultural Growth Corridor of Tanzania
SAGCOT, the Southern Agricultural Growth Corridor of Tanzania, brings together public and private sector investment to promote transformational improvements in agricultural productivity.
Prorustica is currently involved in the development of the SAGCOT partnership organization that will help coordinate and guide investments. New financing facilities, including “social venture capital” (for start-up businesses) and “patient capital” (long-term debt) will help new farming and processing operations get established and become internationally competitive.
The result will triple the area's agricultural output, with anticipated benefits including:
- approximately 350,000 hectares brought into profitable production
- tens of thousands of smallholders becoming commercial farmers, with access to irrigation and weather insurance, at least 420,000 new employment opportunities created in the agricultural value chain
- more than two million people permanently lifted out of poverty
- and annual farming revenues of $1.2 billion
Initiated at the World Economic Forum on Africa in May 2010, SAGCOT is an international partnership of global agriculture businesses which include:
- Unilever
- Yara International
- Diageo
- Syngenta
- Dupont
- Monsanto
- Stanbic
- USAID
- The Alliance for a Green Revolution in Africa
- The Food and Agriculture Organisation
- Norfund
- The Norwegian Embassy
- Tanzanian businesses and farmer groups
- Tanzanian government
