Africa ads for Agriculture products (319)
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THE IMPORTANCE OF AGRICULTURE BUSINESS IN AFRICA
Agriculture business is the primary source of food and income for African people. It provides up to 60 percent of all jobs on the continent. A vibrant, sustainable and resilient agricultural sector is also vital for Africa's economic future. Food production in Africa needs to increase by 60 percent over the next 15 years to feed the growing population. As countries across sub-Saharan Africa grapple with the challenges of sustaining high levels of economic growth, plunging commodity prices and the effects of climate change, revitalizing agriculture must become a priority on the continent.
The World Bank warns that anemic recovery in emerging markets will weigh heavily on global growth prospects. However, the continent is bursting with potential: At 200 million hectares, sub-Saharan Africa is home to nearly half of the world's uncultivated land that can be brought into production. Africa uses only 2 percent of its renewable water resources compared to 5 percent globally. Together with abundant resources, including a resourceful, enterprising youth population, strategic investments in agribusiness can unleash virtuous growth cycles.
THE FUTURE OF AGRICULTURE BUSINESS IN AFRICA
Africa can capitalize on her own opportunities. But it face challenges to bring in new agricultural technology for higher-yielding, more resilient food crops that can deliver bountiful harvests. These new techniques are beginning to boost yields in rice and cocoa, among other crops. Second is, that African farmers need more electricity, more irrigation, and better infrastructure that links them to lucrative regional food markets. Third is the need to sound policies that do not discriminate against the farm sector. Women produce the bulk of food in Africa. And yet they are largely locked out of land ownership, access to credit, and productive farm inputs such as fertilizers, pesticides, and farming equipment. Further, they are often bypassed by extension services, limiting their productivity.
At the latest climate talks in Paris, the World Bank unveiled a bold new plan that calls for $16 billion in funding to help Africa adapt to climate change and enhance the continent's resilience to climate shocks, including a focus on climate-smart agriculture and supporting the vision for accelerated agricultural transformation of the Malabo Declaration.
As policymakers struggle to accelerate growth and tackle prevailing headwinds, it is worth noting that the agriculture industry in Africa has been shown to be two to four times more effective than other sectors in raising incomes among the poorest people.
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