“With more than 60% of its 1.166 billion people living in rural areas, Africa’s economy is inherently dependent on agriculture. More than 32% of the continent’s gross domestic product comes from the sector.”
In Africa, agriculture accounts for two thirds of livelihoods and food accounts for two thirds of the household budgets of poor people. It makes up a very important part of the lives of African people.
The single most pressing challenge facing African governments is to harness the continent’s increasing wealth and use it to improve people’s lives. Agriculture is at the heart of that challenge. To reduce poverty and boost economic growth, Africa has to develop a vibrant and prosperous agricultural sector.
Africa has the land, water and people needed to be an efficient agricultural producer – and to feed an expanding urban population. The Guinea Savannah, a vast area that spreads across 25 countries, has the potential to turn several African nations into global players in bulk commodity production. In addition, countries such as Ghana, Mali, Senegal, Mozambique and Tanzania, have large breadbasket areas that could feed regional populations, displace imports and generate exports.
The global market is aware of Africa’s vast potential to become the world’s granary and is making the right moves to tap into this opportunity. By investing and transferring technology and skills to the local population, it ensures that best practices in agriculture can be easily adopted by future generations.
In order to be successful and sustainable, funding for agricultural mechanisation development must be tailored to local needs and must be firmly embedded in broader agricultural policy approaches. Investment Hub seeks to ensure an effective transition from hard-labour jobs in the fields towards jobs related to the increased use of mechanisation, through supporting government and private projects that incentivise local farmers to increase production of international quality yields.
This is how agriculture in Africa will reach the standards of productivity and quality necessary to feed our own population and also to become a net exporter of agricultural products in the near future.