Support African Agriculture as Business- Adesina to the US
I do not seek aid for Africa. I seek investments in Africa
These were the words of Akinwunmi Adesina. Adesina was the Distinguished Guest Speaker at the USDA’s 94th Agriculture Outlook Forum in Virginia. The theme of the event was “The Roots of Prosperity”.
Akinwumi Adesina has made a strong case for increased American and global investment in the African Agricultural sector.
According to Adesina, “For too long, Agriculture has been associated with what I call the three Ps- Pain, Penury, and Poverty. The fact though is that agriculture is a huge wealth-creating sector that is primed to unleash new economic opportunities that will lift hundreds of millions of people out of poverty.”
A statement from AFDB quoted Adesina as appealing to the U.S. private sector to fundamentally change the way it views African Agriculture.
“Think about it, the size of the food and agriculture market in Africa will rise to $1trillion by 2030. This is the time for U.S. agri-businesses to invest in Africa,” Adesina said.
“And for good reason: Think of a continent where McKinsey projects household consumption is expected to reach nearly $2.1trillion, and business-to-business expenditure will reach $3.5trillion by 2025. Think of a continent brimming with 840 million youth, the youngest population in the world, by 2050.
“As the nation that first inspired me and then welcomed me with open arms, permits me to say that I am here to seek a partnership with America; a genuine partnership to help transform agriculture in Africa. And by so doing, unlock the full potential of agriculture in Africa, unleash the creation of wealth that will lift millions out of poverty in Africa, while creating wealth and jobs back home right here in America,” the 2017 World Food Prize Laureate told the Forum.