{"id":57379,"date":"2023-11-01T10:11:00","date_gmt":"2023-11-01T10:11:00","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/do-not-overlook-africas-trillion-dollar-food-and-agribusiness-sector-african-development-bank-chief-tells-investors-at-world-food-prize-dialogue"},"modified":"2023-11-01T10:24:33","modified_gmt":"2023-11-01T10:24:33","slug":"do-not-overlook-africas-trillion-dollar-food-and-agribusiness-sector-african-development-bank-chief-tells-investors-at-world-food-prize-dialogue","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/do-not-overlook-africas-trillion-dollar-food-and-agribusiness-sector-african-development-bank-chief-tells-investors-at-world-food-prize-dialogue","title":{"rendered":"Do not overlook Africa\u2019s trillion-dollar food and agribusiness sector, African Development Bank chief tells investors at World Food Prize Dialogue"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>Africa\u2019s food and agribusiness will be worth an estimated US$1 trillion by 2030, African Development Bank President Dr Akinwumi Adesina told participants of the World Food Prize Foundation\u2019s Norman E. Borlaug Dialogue(link is external) in Des Moines, Iowa on Thursday.<\/p>\n

The annual event in America\u2019s agricultural heartland, revolved around this year\u2019s theme of \u201charnessing change,\u201d with delegates and panellists exploring innovative ideas to shore up innovation, adaptation, and diversification, and mechanisms for improving resilience, recovery from shocks, and sustainable systems to feed the world.<\/p>\n

Several world leaders are actively bolstering food production and food security in Africa. This includes coming together for a landmark global Feed Africa summit in Dakar (the Dakar 2 Summit) last January.<\/p>\n

The continent, which is home to 65% of the world\u2019s remaining uncultivated arable land, ironically imports most of its food. African leaders are intent on ensuring that their countries are self-sufficient in food and become food exporters. There is a realisation that by 2050, the global population will reach nine billion, creating a pressing need for Africa to increase agricultural productivity to meet rising demands for food.<\/p>\n

The African Development Bank, which is leading the charge to feed Africa, played an active part in the Borlaug Dialogue. At a session titled \u201cFrom Dakar 2 to Des Moines\u201d on Thursday, Adesina highlighted the achievements of the Dakar 2 summit, which the Bank organised in conjunction with the Senegalese government and the African Union.<\/p>\n

Adesina explained how 34 African leaders endorsed country food and agriculture delivery compacts that produced action- and outcome-driven plans to ensure food security and unlock the continent\u2019s full agricultural potential within five years. This is in line with the core of the Bank\u2019s Feed Africa strategy, which it launched in 2016. Since then, he added, the strategy has supported more than 250 million people, who have benefitted from improved agriculture technologies.<\/p>\n

Adesina said partners had committed over $70 billion to support the food compacts. The Bank is expected to provide $10 billion over the next five years.<\/p>\n

The Bank head said Dakar 2 reflected the collective resolve of African leaders to ensure the continent feeds itself. One of the leaders, President Sahle-Work Zewde of Ethiopia, who was at the Borlaug Dialogue, said: \u201cAs African leaders, we are all committed to self-sufficiency in food production. Today, Ethiopia, for the first time in its history, is self-sufficient in wheat production and is a wheat exporter to its neighbours.\u201d<\/p>\n

Zewde acknowledged that this groundbreaking achievement was helped by the African Development Bank\u2019s Technologies for African Agricultural Transformation (TAAT) initiative. TAAT has distributed more than 100,000 tons of certified seeds of heat-tolerant wheat varieties, increasing Ethiopia\u2019s wheat production by 1.6 million metric tons in 2023.<\/p>\n

Further underlining the high level of African participation at the Borlaug Dialogue, Vice President Kashim Shettima of Nigeria spoke about the importance of leadership, which he said was essential to feed Africa and develop the continent. \u201cA nation falls or rises dependent on the quality of its leadership,\u201d he emphasised.<\/p>\n

Governor Caleb Mutfwang of Nigeria\u2019s Plateau State\u2014speaking at a World Food Prize side event on transforming African agriculture through Special Agro-Industrial Processing Zones (SAPZs)\u2014also emphasised the essence of good leadership. \u201cThe time has come to deal with the elephant in the room, and that is corruption,\u201d he said. \u201cWe are serious about this, and we want investors to know that investing in Plateau State is a win-win.\u201d Governor Mutfwang also stressed the importance of incentivising investors by reducing unnecessary administrative bottlenecks.<\/p>\n

The African Development Bank has already committed US$853 million to public-sector initiated SAPZs and successfully mobilised financing of $661 million alongside its co-financing partners. Collectively, the partners are investing more than $1.5 billion to establish 25 agro-industrial zones and supporting ecosystems in 13 countries.<\/p>\n

Adesina invited investors and other stakeholders to invest confidently in the African food and agribusiness sector. He said political will was strong and that results on the ground showed tremendous promise.<\/p>\n

The African Development Bank is a regular contributor to the Borlaug Dialogue. Akinwumi Adesina who was the World Food Prize laureate in 2017, is recognised for his exceptional and innovative work in the African food system, including eliminating corruption in the fertiliser industry in Nigeria, leveraging resources for smallholder farmers, and increasing for crop and production efficiency, during his previous tenure as agriculture minister.<\/p>\n

This year\u2019s Borlaug laureate is Heidi Kuhn(link is external), recognised for her farmer-focused development model and work that revitalises farmlands, food security, livelihoods and resilience in conflicted affected regions around the world.<\/p>\n

The African Development Bank\u2019s initiatives to feed Africa drew strong commendation from Ambassador Kenneth M. Quinn, President Emeritus of the World Food Prize Foundation, and the Foundation\u2019s President, Ambassador Terry Branstad.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. Africa\u2019s food and agribusiness will be worth an estimated US$1 trillion by 2030, African Development Bank President Dr Akinwumi Adesina told participants of the World Food Prize Foundation\u2019s Norman E. Borlaug Dialogue(link is external) in Des Moines, Iowa on Thursday. The annual event in America\u2019s agricultural heartland, revolved around this year\u2019s theme […]<\/p>\n","protected":false},"author":84,"featured_media":57378,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-57379","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nDo not overlook Africa\u2019s trillion-dollar food and agribusiness sector, African Development Bank chief tells investors at World Food Prize Dialogue - Namibia<\/title>\n<meta name=\"description\" content=\"Africa\u2019s food and agribusiness will be worth an estimated US$1 trillion by 2030, African Development Bank President Dr A ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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