Agribusiness to Shift from Importing to Self Sufficiency
30 January 2020
In November 2019, the African Agri Council held the fourth edition of the African Agri Investment Indaba, hosted by the South African Government, the Western Cape Government and Wesgro in Cape Town.
There was an overwhelming feeling among delegates that Africa should now focus on a shift from import dependence to self-sufficiency. Therefore, the Indaba co-located events to offer real opportunities for participants to align themselves with institutions such as the African Development Bank and Grow Africa while addressing areas that should deliver meaningful impact to the development of African agriculture.
Specific panels in the keynote touched on current political reforms, the economic and digital revolution in food and agriculture with one goal in mind; how to boost transactional discussions that will result in business expansion, capital flow and FDI.
Agribusiness is evolving from a local and regional model to a global structure. Making this sector of increasing interest to corporations, public agencies, and society at large – with the right expertise, investment and policies, Africa can evolve and curb the current annual food import bill of $35 billion, which is estimated to rise to $110 billion by 2025.
The future of food in the world will depend on what Africa achieves in agriculture said Dr Akinwumi Adesina, president of the African Development Bank, which is why it needs to be at the top of the global food security agenda.
Original article compiled by Farmers Review Africa