In this opinion piece, 2017 World Food Prize Laureate Dr. Akinwumi Adesina sets out his vision for catalysing investment in an Africa-owned transformation of the continent’s agriculture sector.
No region of the world has ever industrialised without the agricultural sector being first transformed. Africa is the last continent to do so and needs to catch up fast.
Although 60% of the population are involved in farming, it accounts for less than one seventh of its GDP, and African agricultural yield is the lowest in the world.
Yet this very fact offers a large-scale opportunity for international investors and big-ticket entrepreneurs. In Africa, economic diversification and lasting wealth creation begins with a vibrant agriculture sector. Between $30 and $40 billion a year over the next ten years is needed to transform African agriculture and create the vibrancy. It’s a lot of money, but it is available, even within Africa, if the projects are good enough. Continue reading