Senegal’s Ministry of Agriculture and Food Sovereignty endorsed a $300 million framework partnership agreement with The Cornerstone Group – Hajib Al Shams Joint Venture on Tuesday. Signed on the sidelines of the African Food Systems Forum, the six-year deal aims to modernize the country’s agricultural sector using renewable energy.
The investment will be deployed under a Build-Operate-Transfer (BOT) model. “At the end of this period, the energy infrastructure will be transferred to Senegalese producers and the private sector, thus guaranteeing local empowerment and long-term sustainability,” said Senegal’s Minister of Agriculture, Mabouba Diagne, on his X account.
The agreement also includes provisions for solarizing farms, livestock units, aquaculture sites, and analytical laboratories, as well as promoting bioenergy solutions. It further provides for monetizing carbon credits to benefit an agricultural fund, financing insurance, and fostering international cooperation in research and innovation.
source: APO
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