African Development Bank to modernize agriculture
The AfDB has organised The Feeding Africa Conference which will tackle the key challenges to Africa's agricultural transformation.
These challenges are the modernization of the agricultural sector, access to credit in particular for women farmers, access to markets and building robust value chains, making farming attractive to youth, fostering gender equality, building regional trade and developing climate smart agriculture.
About two-thirds of Africa's employment is in the agriculture sector and the continent has about two-thirds of the worlds arable land, giving the sector huge potential. However, it annually imports food worth $32 billion, but there are 300 million Africans suffering from hunger or malnutrition.
AfDA is providing a $300 million financing facility to assist women in agriculture to expand their use of technology as this will enhance the efficiency of their crop production, in order to encourage rapid growth in agriculture.
The Feeding Africa Conference will produce a Roadmap that will outline the key actions required to deliver a Strategy for Transformation of African Agriculture. The Conference is being hosted by the Government of Senegal and is supported by the African Union and the United Nations Economic Commission for Africa. ■