POST Online Media Lite Edition



 

Could future of food in world depend on what Africa does with agriculture?

Staff Writer |
Addressing a standing room only crowd of global agriculture experts at the FAO headquarters in Rome, 2017 World Food Prize Laureate and President of the African Development Bank, Akinwumi Adesina, says the answer is a resounding yes!

Article continues below




He believes Africa does not need aid but disciplined investments. According to this grandson of a subsistence farmer, he says the time has come to view investment and development opportunities in Africa through a totally different lens.

With over 800 million people worldwide suffering from hunger and more than two billion affected by malnutrition, food insecurity remains a real threat to global development.

Adesina, who is making a global pitch for renewed visionary leadership and strategic alliances, “the future of food in the world will depend on what Africa does with Agriculture.”

The African Development Bank, which he leads, envisions a food secure continent which uses advanced technologies, creatively adapts to climate change, and develops a whole new generation of what he describes as ‘agripreneurs’ – empowered youth and women who he expects to take agriculture to the next level.

By 2050, an additional 38 million African will be hungry. The paradox of lack in the midst of plenty, and Africa’s growing youth bulge are some of the reasons why Adesina’s sense of urgency is resonating with numerous government, private sector, and multilateral leaders during recent European and Asian trips. The banker and 2017 World Food Prize Laureate will be the first to admit that he considers himself the ‘evangelist-in-chief’ for a food secure Africa.

Africa continues to import what it should be producing, spending $35 billion on food imports each year, a figure that is expected to rise to $110 billion in 2025 if present trends continue.

A few days later, Adesina joined Rockefeller Foundation President Raj Shah, Unilever CEO Paul Polman, and 2018 World Food Prize nominees Lawrence Haddad and David Navarro, among other prominent global academic, development, and agriculture experts at Wageningen University and Research, in the Netherlands, to make the case for urgent collective action by State and non-State players to accelerate Africa’s agricultural growth and transformation.

Africa receives only 2 percent of the $100 billion annual revenues from chocolates globally. Adesina tells his audience that “adding value to what nations produce, is the secret to their wealth. Producing chocolate instead of simply exporting cocoa beans does not require rocket science.”

To expand opportunities for youth, women, and private sector players, Adesina is on a global mission to promote and seek support for the bank’s Affirmative Finance for Women in Africa (AFAWA) program which aims to mobilize $3 billion to support women entrepreneurs who historically lack access to finance, land, and land titles; a $300 million ENABLE Youth program to develop the next generation of agribusiness and commercial farmers for Africa; and a new global investment marketplace, the African Investment Forum, which will be held in Johannesburg November 7-9.

In separate meetings with Sigrid A.M. Kaag, Minister for Foreign Trade and Development Cooperation, in the Hague; Peter van Mierlo, CEO of the Dutch Entrepreneurial Development Bank (FMO), key private sector players, and members of the Dutch Foreign Affairs Advisory Council, Adesina said Africa and its partners must seize unprecedented opportunities for innovative partnerships and increased development impact.

Mierlo believes, “a huge benefit for Africa is that it can skip development cycles that often almost all developed countries had to go through, by deploying new technologies such as artificial intelligence and robotics in agriculture”.

In a continent where more than 640 million are without electricity, Adesina says the private sector is key to Africa’s development in Africa’s energy and agriculture sectors.

“If Africa is going to turn the tide of irregular migration, this is critical. There are three ways in which we can collaborate: either through the NEPAD Infrastructure Project Preparation Facility, Africa 50 - a private equity institution which has raised more than US$ 850 million from 22 countries, and the new Africa Investment Forum.”

Adesina, recognizes that the lack of electricity is Africa’s biggest development impediment. The Bank’s new and ambitious Desert-to-Power initiative which aims to generate 10,000MW of power across Africa’s Sahel region will be critical to reducing migration and climate change impacts. We will do this through a blended finance mechanism with guarantees”, Mr. Adesina said.

Speaking to a High-level Roundtable of Dutch Business Leaders at the Netherlands Enterprise Agency (RVO), informed key private sector leaders that “governance structures and business regulatory environments are changing in Africa. Indeed, several African countries have already made significant progress in improving their general business and investment environments. Africa is doing better than some of the Asian countries,” he reminded his audience. “In the energy sector, the African Development Bank is investing $12 billion over the next 5 years, with the goal of leveraging $40-50 billion; and an additional $US 24 billion, over ten years, in agriculture to implement its Feed Africa Strategy.”

Agriculture steadily taking center-stage

The strategy is already bearing fruit with the establishment of Staple Crop Processing Zones in several African countries, including Ethiopia, Togo, Democratic Republic of Congo, and Mozambique, with a plan to reach 15 countries in a few years.

Strategically located in and around rural farming communities Adesina says “these agriculture zones will form the nucleus of a new wave of agro-industries and greenfield ventures, attracting agripreneurs, biotechnology firms, intellectual and capital investments. They will also ensure that foods are processed and packaged right where they are produced, rather than in urban centers far removed from centers of production.”

Described as a visionary optimist by many colleagues, Adesina believes the bank’s policies and investments will help turn rural areas from zones of economic misery into zones of economic prosperity.


What to read next

Africa holds the key for feeding 9 billion people
African Development Bank: Africa to feed world by 2025
Food imports bad for economy of Tanzania

$18.6 million investment for three bridge replacement projects on Thruway in Central New York completed

 
Governor Kathy Hochul announced the completion of an $18.6 million investment for three separate bridge replacement projects on the Thruway in Central New York.
 
 

Latest

After fatal crash, Japan to ground Osprey aircraft, asks U.S. to follow suit
Vietnam's trade surplus reaches 25.83 bln USD in 11 months
3 tonnes of cocaine seized off Senegal's Dakar coast
Value of cereal production in EU €64.4 billion, milk value €58.0 billion

NEWS

Romania: EPPO carries out searches in probe into misuse of funds for Roma communities

Poland filed complaint against Germany regarding illegal storage of waste
RMT calls for end to cuts as London’s tube crime soars
Prosecutor's Office will investigate accident in Polish coal mine
Henry Kissinger dies at age 100
Report on marine casualty involving cruise ship Viking Polaris south-east of Cape Horn
 

BUSINESS

Bulgaria plagued by shortage of medical professionals

Kenya: African Development Bank commits more than €101 million to boost access to electricity
Europe’s critical infrastructure faces growing threat from extreme rainfall events
Technical capacity of Balticconnector interconnection point will be increased
Almost 600 migrants arrive on Italy's Lampedusa island
REFORMERS project launches Europe’s first Renewable Energy Valley in Netherlands
 

Trending Now

Romania: EPPO carries out searches in probe into misuse of funds for Roma communities

Dr. Martens H1 revenue decreased by 5%

Bulgaria plagued by shortage of medical professionals

New York: $100 million for zero-emission school buses


POLITICS

New York: $100 million for zero-emission school buses

Poland to seek return of EU permits for Ukrainian haulers
EU Solidarity Fund grants €100 million of advance payment to Slovenia following summer floods
Bolivia gets green light for full Mercosur membership
Canada signs deal to refurbish nuclear reactor in Romania
Gas flow agreement to bolster energy security in Italy and Switzerland
 

Today We Recommend

Argentina records hundreds of Trichinella cases


Highlights 

Novo Nordisk invests 2.1 billion euros in expansion in Chartres, France creates 500+ new jobs

Boehringer Ingelheim to acquire T3 Pharmaceuticals in deal worth over $500m

Chinese MMG will acquire Botswana copper company for $1.88bn


COMPANIES

Impala Platinum restarts South African mines after deadly accident

Offshore Odfjell drillers strike pay deal
Unite announces rolling Chivas Brothers strike action across Scotland
Unite brands Barclays disgraceful as it announces job losses before Christmas
Port of Rotterdam Authority officially commissions Container Exchange Route
Commission approves €833 million Danish and Swedish State aid measure to recapitalise SAS
 

CAREERS

Pyxis Oncology appoints Ken Kobayashi as chief medical officer

Amylyx Pharmaceuticals appoints Camille L. Bedrosian as chief medical officer
Federal Signal Corporation appoints Katrina L. Helmkamp to board
First Resource Bancorp appoints Kristen Fries as CFO
Network International appoints Mpho Sadiki as group managing director, merchant solutions for Africa
Liquid Intelligent Technologies: Oswald Jumira new CEO of Liquid C2 business unit
 

ECONOMY

French economy contracts in Q3

Sweden enters recession with GDP shrinking 0.3 pct in Q3
Türkiye GDP grew 5.9% in Q3
Australian inflation falls to 4.9 pct
Bankruptcies soar among German large companies
Mexico's economy sees 3.3 pct growth in Q3
 

EARNINGS

Dr. Martens H1 revenue decreased by 5%

Fortaco H1 sales EUR 79.9 million
Seadrill Q3 revenues $414 million
LightInTheBox Q3 revenues increased by 27.5%
Natuzzi Q3 revenue €74.9 million
Foot Locker Q3 sales decreased by 8.6%
 

OP-ED

Micromanaging is the worst enemy of efficiency and teamwork

Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?
 

AGRIFISH

Rosselkhoznadzor begins inspections of Brazilian poultry meat producers

Kazakhstan will supply peaches, cherries, and plums to China
Poland to start exporting apples to Indonesia
Vietnam becomes world's second shrimp supplier
Japan confirms season's second bird flu outbreak
France reports bird flu on turkey farm as disease spreads in Europe
 

LEADERSHIP

LinkedIn can trigger feelings of imposter syndrome

Study suggests corporate culture thwarts efforts to hire innovative candidates
Workplace wellness policies could soften effects of workaholism
Customers willing to wait longer for delivery when they shop in store showroom
Internal crowdfunding fosters innovation and engages employees
Employee owned businesses deliver an 8 to 12% productivity boost
 

CRIME

BNP Paribas subsidiary fined maximum amount over Swiss franc loans

Commission fines Rabobank €26.6 million over Euro-denominated bonds trading cartel
Shell Energy fined £1.4m by Ofcom for consumer protection breaches
Italy's antitrust agency fines energy companies for aggressive billing
New Jersey duo defrauded investors and mortgage lenders through $2.5 million investment scam
SEC charges Royal Bank of Canada with internal accounting controls violations
 

Magazine

TRAVEL

Mushrooms of all kinds will be featured at Autumn Bio Festival in Portugal

Festive winter fun in and around Hannover
Premier Australian motoring event returns this weekend
Yummy cake and bake show in London with great prizes
Tuileries Garden Christmas, magic of Christmas in Paris
Museum of the Moon to welcome all science fans in Larnaca
 

SEA, LAND, AIR

Chevrolet Tahoe and Suburban come with new look

Chinese HiPhi revealed electric sedan, too bad it can't be trusted
New 2025 Ram 1500, Hurricane 3L and 420 horsepower
Gulfstream G700 business jet to fly 14,353 kilometers
Beneteau First, slender mainsail and generously sized foresails
Porsche launches speedboat with 400 kW
 

DESIGN

Hollywood Regency, the style that's always in

Filippo Loreti, premium Italian timepieces for adventurous gentlemen
Creative furniture that redefines the meaning of sofa
Perfect ovens for perfect pizza at home
Designer radiators, focal point that heats your room
What to do and what not to do when designing your living room
 

GADGETS

Motorola g family smartphones bring something for everyone

Focal Shape 65 monitor, loudspeakers for home or professional studio
NAD C 268 stereo power amplifier, multipurpose workhorse
DeVore Fidelity Orangutan O/Reference, €90,000 for ultimate sound
Motorola razr, foldable phone that allows you to live your real life
Rogers 65V-1 integrated amplifier delivers remarkable sound made in America
 

HEALTH

Argentina records hundreds of Trichinella cases

Loss of auditory nerve fibers uncovered in individuals with tinnitus
Netherlands sees alarming surge in pneumonia among children, China disinfecting schools
Pocket sized DNA sequencers track malaria drug resistance in Ghana in near real time
Novavax's updated COVID-19 vaccine now option for all 194 WHO member states
Japan trials over the counter sales of 'morning after' pill
 

MEANTIME

Astronomers spot giant stream of stars between galaxies

Six exoplanets discovered in synchronised dance
Earth braces for geomagnetic storm on November 30 after two powerful solar flares
Frozen food temperatures changed by just three degrees to save CO2 emissions
Groundbreaking method to match celestial objects across telescopes
Moscow Veterinary Academy celebrates birthday of Russia’s first puppy born to surrogate mother dog