adminThe African Union’s commitment to agriculture played out during their recent summit: “I want us to drive quality, inclusive growth that creates jobs. Agriculture matters and is three times as effective in reducing poverty. It is important for young people to understand that farming is ‘cool’,’’ Ngozi Okonjo-Iweala, Nigeria’s co-ordinating Minister for the Economy and Minister of Finance, is quoted as saying in AFK Insider.
Hendrik du Toit, CEO, Investec Asset Management, said in the report that with the right infrastructure, enormous growth can be achieved from agriculture.
“This is where long-term capital is needed if you want to exploit the agri-business revolution. One of the most momentous changes from a business point of view is that Africa is integrating itself, particularly via China.”
The report says that China has emphasised agri-business in its investment in Africa and while China’s support is direct, support from the US is coming more in the form of private companies wanting to get involved.
Stephen Hayes, president and CEO of the Corporate Council for Africa, said that despite their push of programmes like Power Africa, “there’s more interest in agri-business than renewable energy right now from American businesses.” – AFK Insider.
Online Reporter