Agribusiness will become the ‘new oil” on the continent, African Investment Forum participants said, fueling the motor of inclusive growth. “Agriculture is a key priority for the African Development Bank, through our Feed Africa strategy,” reiterated Jennifer Blanke, the African Development Bank Vice President for Agriculture, Human and Social Development.
Understand that by transforming Africa’s agriculture sector it will become the engine that drives Africa’s economic transformation through increased income, better jobs higher on the value chain, improved nutrition, and so on.
Some agribusiness leaders said there is a need to invest US$45 billion per year to harness the power of agriculture and move up the value chain to create jobs and wealth.
At present, only US$7 billion is invested in the sector. Investments from the private sector, leaders said, will create the adequate environment and enhance the emergence... Read more