How can Africa drive greater investment in agriculture?
Agriculture presents the greatest opportunity for the continent.
Agriculture and agribusiness, sectors currently worth $300bn in Africa, will transform into a market worth $1tn by 2030. With 60% of the world’s available arable land and generally favourable conditions, the continent has a clear competitive advantage. The challenges and opportunities are well documented; Africa accounts for 75% of the world’s cocoa production – Côte d’Ivoire and Ghana alone account for 65% – but the continent receives only 2% of the $100bn annual revenues from global sales of chocolate and cocoa related products.
Experience and evidence from Africa show that achieving food security and realising the high potential returns offered by efficient agribusiness value chains requires visionary leadership and greater private sector participation in the agricultural space.
Africa has a clear comparative advantage in the field of agriculture. Yet it still has an annual food import bill in excess of $40bn. With the world’s youngest and fastest growing population, the agriculture sector, arguably, has the most scope for growth and development, and to create the millions of jobs needed for the youth.
Creating a dynamic private sector with the clear objective of driving greater investments in agriculture is therefore critical for policy makers to fulfil their promise to their people and to meet the SDGs and the Africa 2063 agenda. Job creation and becoming part of global value chains by creating competitive advantage in key agriculture industries has become an urgent necessity.
AgroDomain has been at the forefront of the agriculture revolution. Our aim is to empower Agricultural industry players whether big or small with direct access to what they need to succeed, wherever and whenever they need them.
Moreover, our work aims to provide end-to-end support across the agricultural value chain by empowering agricultural industry players. Founded in 2018, we are using latest cutting-edge technologies to support every aspect of the agricultural value chain through creating products that enhance productivity and connectivity among every role player in the agricultural value chain. We call for all private sector leaders and financiers from across the continent to join us in mobilising greater investments into agriculture and to join AgroDomain for a better Agriculture development in Africa