Background

The agribusinesses sector in Africa has immense untapped potential, offering a pathway to economic growth, food security and poverty alleviation. Agribusinesses play a vital role in connecting farmers with markets and providing essential solutions   that strengthen food systems.  However, numerous challenges such as the adverse impacts of climate change, market volatility and limited access to finance hinder the growth of the sector. In response an increasing number of agribusinesses are proactively embracing adaptive technologies and innovative practices to mitigate these challenges. By implementing climate-smart strategies, these forward-thinking agribusinesses are not only ensuring their own sustainability and that of the smallholder farmers within their supply chain, but also play a pivotal role in global efforts to combat climate change.  

To unleash the full potential of agribusinesses, an innovative approach is needed – one that integrates impact measurement and management. This concept note aims to explore the transformative role of impact measurement and management (IMM) for African agribusinesses, showcasing how it can minimize risks, create value, and catalyze investments.

Agribusinesses often face challenges in implementing climate-smart agriculture (CSA) practices due to various factors. One of the primary challenges is limited awareness and understanding of key benefits. This knowledge gap hinders their ability to effectively identify and prioritize CSA practices that align with their specific business models.

The integration of IMM in agribusinesses across Africa presents a transformative opportunity to overcome challenges, unlock value, and attract investment. By embracing this approach, agribusinesses and other stakeholders can navigate risks, optimize operations, and generate positive impact on multiple fronts. Ultimately, this holistic perspective empowers agribusinesses to contribute significantly to sustainable development, food security, and economic prosperity in Africa.

About the Masterclass

Through AICCRA, the Hub for Sustainable Finance and Ukama Ustawi CGIAR Food Systems Accelerator Program, the CGIAR has developed tools and resources to facilitate the scaling of CSA innovations through agribusiness. We're holding an invitation-only Masterclass as part of the AgriBusiness Dealroom at AGRF 2023 to guide participants through this comprehensive journey, equipping them with the knowledge and skills necessary to effectively identify, prioritize and monitor impacts of CSA activities.

• Understanding Impact Measurement and Management (IMM): Impact measurement and management involves systematically tracking, assessing, and optimizing the social, environmental, and economic outcomes generated by an organization's activities. By adopting this approach, agribusinesses can gain a comprehensive understanding of their impact, beyond mere financial returns. This broader perspective allows for informed decision-making, improved performance, and enhanced credibility.
• Prioritizing climate smart practices: Understanding climate hazards to inform enables agribusinesses to prioritize CSA investments. The right climate smart practice allows agribusiness to create value and de-risk their operations in the context of climate change. Operational de-risking anchored in science-based evidence positively impacts the variability of cashflow via a mix of economically and impact accretive climate smart practices. Operational de-risking is essential to promote sustainable adoption of CSA by enabling positive financial returns agribusinesses in addition to positive climate outcomes.
• Attracting Investment: Investors are increasingly recognizing the importance of sustainable practices and impact-drive approaches. Agribusinesses that implement robust impact measurement and management systems are well-positioned to attract investment capital. By demonstrating their commitment to social and environmental sustainability, these businesses can tap into a growing pool of impact investors, venture capitalists, and development finance institutions, thereby accessing vital funding for expansion and innovation.

Speakers

• Peter Wamicwe (CGIAR Hub for Sustainable Finance)
• Stephanie Jaquet (AICCRA Senegal)
• Valentina Giombini (Alliance of Bioversity International and CIAT)
• Dorcas Jalango (Alliance of Bioversity International and CIAT)

AGRF: Africa’s Food Systems Forum 2023 Summit

The Africa's Food Systems Forum 2023 Summit will take place in Dar Es Salaam Tanzania from September 4 to 8, 2023. This year’s theme is, “Recover, Regenerate, Act: Africa’s Solutions to Food Systems Transformation” focuses on building back better food systems and food sovereignty with youth and women at the center.  Recovery calls for decisive strategies and actions to rebuild food systems after multiple crises and shocks. Regenerate emphasizes the need to regenerate natural capital resources with adaptation practices, innovation, and technology for sustainable food production in a changing climate context. Act urges urgent action to accelerate food systems transformation through better policies, practices, and investments.

The Impact Measurement and Management Masterclass aligns with the Africa's Food Systems Forum 2023 Summit and its theme. The masterclass provides a critical framework for understanding and assessing the impact of food systems interventions and strategies, making it an invaluable tool in achieving the summit's objectives. By equipping participants with the knowledge and skills to measure and manage the social, environmental, and economic outcomes of their initiatives, the masterclass empowers them to contribute to the recovery and rebuilding of food systems, regenerate natural resources through sustainable practices, and take decisive action to accelerate the transformation of food systems in Africa (act). With a focus on youth and women, who are at the center of the summit's vision for food sovereignty, the masterclass ensures that these key stakeholders have the tools and capacity to drive positive change and create a resilient and inclusive food system for the continent.