African farmers and agribusinesses could tap into a trillion-dollar market by 2030 if they can secure access to significantly more capital and infrastructure, including irrigation, to grow their food and compete in the global market.
The new World Bank report, “Growing Africa: Unlocking the Potential of Agribusiness, calls for governments to work side-by-side with agribusinesses to link farmers with consumers in an increasingly urbanised Africa.
World Bank Vice President for Africa, Makhtar Diop will hold a video press conference to launch the reporton Monday, March 4 with video connections to six African capitals.
The report calls for a radical rethink on how to help Africa seize its agribusiness opportunity. Currently, agriculture and agribusiness together account for nearly half of Africa’s economic activity.
Other participants are Derek Byerlee (Lead Author and Consultant, Africa Region Financial and Private Sector Development), James G. Karanja (Managing Director, Freshco Seeds Kenya Ltd), Jamal Saghir (World Bank Director for Sustainable Development in Africa) and Gaiv Tata (World Bank Director, Financial and Private Sector Development for the Africa Region).