Africa is a land of enormous potential for agribusiness. Several major U.S. companies are actively engaged in various aspects of agricultural development. And with the recent food commodity crisis, interest in African agriculture is at an all-time high.
A vibrant private sector is needed to realize the potential of agricultural production and processing in Africa. Many industry players are needed. And investment dollars are being mobilized from both public and private sources.
The report summarizes the priorities for agribusiness development:
Improving smallholder competitiveness in high- and medium-potential areas—where returns to investment are highest—and improving livelihoods, food security, and environmental resilience in remote and risky environments are priorities.
A multisectoral approach is needed to capture synergies between improved technologies, sustainable soil and water management, institutional support, and human capital development—all linked to market development.
Decision making on many actions is best decentralized in order to tailor them to heterogeneous local conditions, but others need to be coordinated across countries to provide an expanded market and to achieve economies of scale in such services as research and development.
For its part, the Bank intends to continue increasing its support for agriculture and rural development, following a decline in lending in the 1980s and 1990s. Commitments in FY07 reached $3.1 billion, marking an increase for the fourth straight year.
If you are interested in learning more about these opportunities and would like to discuss how your business or organization can play a role in the transformation of agriculture in the most needy region in the world, please contact AfricaAtlantic today at info@africatlantic.com.
