4Jt.- Vanguard. MONDAy' OCTOBER 3, 2011 • u:z::: "~iwtJ 1M
Agric
Fina.ncialv.'lnguam , iIOCJ!!f@li!iIlI_!lI@LE
!
BRIEFS , -1
IIL&'!I!!'tM
__
CBOE expands stock-tracling with deal for NSX '"rilE Ch;cago Board Options J.. Exchange parent said it would ac~uire the National Stock EltChange fNSX) in a deal that would exPft-'ld ils relatively small stodt-trading operations and allow it 10 I"!mpt new electronic customer!' v.iU\ specialty prices. CBOE H olding ~ Inc (CBOE.O), which had stO{red oul of this year's global merger fr enzy among exchangf~ s, d id oot put a price tag 01\ lhet1ealfor NSX, an electronic exchange based in New Jersey and IJwned primarily b\' large hl'Oker Ilealers. The den! is eJpected 10 dose this fall pending regulatory appl'Oval, CBOE had said. CaOE HoldinJs went public last year and run~' lhe largest U.S. options mllrket. While its CBSX st'JCk ellchange matched 0. 1 per ce-nt of tot a:! U.S equity tradjng in the past wee l., NSX had 0.5 per cent, nccon:Hng to the website of eJ:d1<l.nge operator, BATS Global Ml!.rkel.! Despite the v"ry thin market s hare, NSX ~hould add new s Communica fions and C\L5tomers and aUow it to offer a . Public AJlaJrs Direcfor 01 wider range of fees to U.S . Alliance fora Green Revolulion in equities traders CBOE .said. II Alrico (AGRAJ. one does nol expecI would rUIl NS~ ~, formerly the 10 gel less from SyNia Mwic1luJi. Cincinnati Stoel Exchange, as a fn Ulisdlal with Jimob Bitbatu!1de. sf' parale excharge from CBSX. slle speaks an Ule plans of AGRA and consolidal ~ data systems 10 lum aruUIld the fol1unes of smalland other opera ions. /lOlderfmmern in theconliJleitl Ule roles of civil socieUes In Ul e work of Ule body and Ule positian of women in agrlcullure in Alrico. Slle illsisled Ihol Africa 0011 fced ifself if /lIe riglll policies are ill
We are out to achieve smallholdel'mbased African green revolution - Mwichull
A
Tough clebt markets weigh on
GSK portfolio sale LAXOSMlrI-tKlIne Pte's, GSI<, sale o f adutch of nonprescription dru]s is set to be a protracted affair, 65 potenlial buyers conteI' d with tough financing cene iUons and [ret about pro~pe'!::1!; for some of the products in the portfolio. 11m slmv-runni'lg pfUCe5S serves as yet anotJlerex:J.mple of how the crisis in the eurc :oone is freezing financin g marke1s and ha.tnpering Mt-.A acmss til." region, with it handfu l of dNI s postponed or pulled in ret"1:!nl·'Jeeks. Any de lay t'l the sale, which analyst.s had iniHaUy said could fil bn? bp.tI'·een I 5 billion and 2 billion l)(ltll1d~ \52.3-3 .1 billion), or 3 to " Umos sa les, could be 5lCnilicani be--.,.dt se lhe cash could IH!lp undorp i n GSK's planne d share repurc h·,se program in 2012. Second-rllund bids in U,e auction rim b~' Goldman Sachs (GS .N) are e) pected in late October, though i precise date has yet to bf! communicated to the short lis Led pi rlies, sources filmiliar wi th Ih .. situat ion said . "It's a triCkyOll!!' to execute, the portfolio is veri scattered with many drngs wi h revenues less tllan I million e ·uos." one SOUTa! close to the 5illllilion said.
G
place. H ere i3 Oil excerpf
On what AGRA stands lor: .....'e RIe a partnership-based organisation that works across the African continent to help millions o f sma ll -sca le farmers and their families lift Ulemselves out of poverty and hunger. African- led and Alrica-based, AGRA develops programmes aimed at implementing practical solutions to significanUy boost smallholder farm productivity and incomes while safeguardi ng the environment and promoting equity. Our programmes and partnership5 are comprehensive in that U,ey address challenges all along th ~ agricu ltural val ue chain: covering seeds, soil health, wllter. marke t.s. And agricultuT<lI educa· tion. AGRA advocates for policies that support this work: from acress to seeds to securing land tenure. from fair trade to affordable finance . AGR/\,s partners include organisations of farmers. research sci· entists. Ule private ~ector, nalional leaders and institutions, civil societ)'. an d multilateral organisations. \\le seek to loster pro-poor agricu lt ural development for small-scale farmers. IIle majority being women. On AGRA'~ distinctive visiun 01 an African Green Revolutio n :
(
Instead of duplicating cunentefforts by seeldng to build its OWJI capacity; AGRA backs UJe endeavours of capable partners to address agriculture as a comprehensive system
AGRA backs Ule endeavours of capable partners to address agriculture as a comprehensive system. lhereby triggering a PI'()re$S of analysis and action that will deliver sustained gains. On AGRA'5 main programme areas: we focus on a set of programmes that constitute a comprehensive a.nd integrated approach to the transfo r ma tion of African agriculture lor smallliolder fanners: /"t)/icy Prugrnmme engages national gavernment.s and donors 10 establish an enabling environment for achieving a green revolution in Africa. 'TIle Seeds Programme (Programme o n Africa..n Seed Sys tems- PASS) address€;s capadtydevelopmenl,agro·ecology-based crop breediag, the de· ve lopment of a vibrant. competitive African seed sector, and lhe widespread commercialis<ltion of appro priate !'Ind well adapted improved crop varieties through village-level agro-deal-
<
We believe 1I1atan African Green Revolution will succeed when it~ develops and Implement.s homegrown solutions; is led by African fa rmers, government.s, scientist.s and civil society; 10cll~es on s mallholder farmers, the majority of whom are women; protects the environmenl and crop biodiversity and expands the choices avail<lble to smallholder farmers t1uough a joint focus on technolo· gies thai meel Uleirneeds a.tld supportive, pro-poor policies. AGRA puts t~e African slllalllloh/er farme r al the heart of the Green Revolution, Ulereby ensuring thai policies and programmes are responsive to their needs and ambitions. AGRA aims 10 ...fOrk with fanners 10 double or triple their producl!vity and thereby dr<lmatica lly reduce poverty and spur rural economic development. aUf solutions-oriented approach empowers fanners and implicitly 5UpPOrts good governance AGRA's approach depends on part nerships . Ins tead 01 rlupficating current efforts b\' seeking to build il.5 own capacity,
e~.
'TIle Soil HeoWI Programme focuses on a rapid t\i5SE'mination of locally adapted and environmen· tally sound integrated soil lertHity management technologies. '11le MafffelsAo:::l"SS Progmmme promotes efficient and profitable output markels to a5SlUe h igher returns to technology investments by fanners. This v.ill be achieved by lowering transaction costs, reducing risks, improving market information systems, and enhancing value addition through. proressing. ' NewelforfsOIl Exlension, \o\'a'c~ and )buth programmes are being developed. AGRA currently supports nearly 100 programmes and partner· ships in 13 African countries: Burkina Faso. Ethiopia. Ghana. Kenya, Malawi, Mali, Mozambique, Nige r. Nigeria, RW<lndll,
1iInzania, Uganda and Zambia. We are exploring programme possibilities in Sierra Leone, Liberia, South Sudan, and Madagascar. On reason for the locus on smallholder farmers : Africa wiH on ly achieve significant increase5 in food production by improving agriculture on smail-scalE' farms tlmt provide 70 to 80 per cent of <lgricultural production, nol by supplanting them with industrial farming . Opening 0flPortunities and achieving equity for Africa's poorest farmers is AGMs focus. Unlike the Green Revolution in Latin America , which mostly benefited large-scale farmers becaulic tbey had access to irrigation (lnd were therefore in a p05ition to use the imp roved varieties. AGRA is developing pmgrammes specifically geared to oven:omc the challenges facing sm(lllhoider farmers. Achieving equity requires pa\ing special attention to women farmers, who often have unequal access to land, farm inputs, financing and education . They shoulder a majorityol farm labour with a minorit), of resoun:es. while raiSing children and running households. AGRtis programml!s wo rk 10 empower Alric(l'swnmen farmers . Achieving equity means expantling the opportnnities open to smallholder iamlers. whether that is through access to improved seeds , to organic farming techniquE'S, to ente ring cash-crop production , or to a host 01 additional options designed to be e nvironmentall y and economicall)' sustatnable. On land te nure SmllWlolder farmers should not only be able loaspire to prosperity, but to achieve il. erilical to this effort is ensuring that farme rs have secme access to land.