Agriculture key to wealth creation, African officials say -TICAD

Transformation of agriculture sector in Africa through mechanization, increased funding and policy reforms will catalyze wealth creation in the continent, officials said on Saturday.

Dr Akinwumi Adesina, the President of the African Development Bank (AFDB) noted that a well-functioning agriculture sector will alleviate endemic challenges of hunger, poverty and social upheavals in the world`s second largest continent.

“Turning agriculture into a wealth creating enterprise is at the heart of Africa`s transformation agenda. Agriculture should be profitable and appealing to the youthful demographic,” Adesina remarked.

He spoke at a symposium on agriculture organized by Japanese philanthropy, Sasakawa Africa Association on the sidelines of the Tokyo International Conference on African Development (TICAD) taking place in Nairobi.

The non-profit group signed a memorandum of understanding with AFDB to mark 30years of collaboration with African governments to transform the agriculture sector.

Adesina said strategic collaboration among governments, industry, academia and civil society will hasten an agrarian revolution in Africa similar to the one witnessed in South East Asia four decades ago.

He revealed that AFDB intends to invest USD 24 billon to revolutionize the farming sector in Africa over the next decade.

“We intend to work with governments and other key partners to increase access to technology, inputs and markets to rural farmers in Africa. Establishment of agro-industries in rural areas will support value addition and boost farmers` income,” said the AFDB chief.

He added that African women farmers could provide lasting solution to food and nutrition insecurity in the continent if they are empowered through access to credit and training.

Africa spends an estimated USD 35 billion on food imports annually yet it has the largest share of arable land in the world.

Nigeria`s Minister for Agriculture and Rural Development, Chief Audu Ogbeh said that optimal utilization of arable land in Africa coupled with improved agronomic practices and streamlined value chains will alleviate poverty in rural households.

“We must inject fresh vitality in Africa`s agriculture through training of farmers, provision of subsidized inputs and value addition to expand our share of the global commodities market,” Ogbeh remarked.