AfDB implores US to up Africa agric investment

AFRICAN Development Bank (AfDB) president, Dr Akinwumi Adesina, has implored the United States of America to increase its investment in African agriculture businesses and help the continent to unlock its economic potential.

Speaking during his recent visit to the United States, Dr Adesina said Africa’s partnership with the world’s leading economy could yield huge development benefits.

“As the nation that first inspired me and then welcomed me with open arms, permit 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,” he said.

For Dr Adesina, increased US investment in Africa would unleash the creation of wealth that will lift millions out of poverty in Africa, while creating wealth and jobs. He appealed to the US 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 US$1 trillion by 2030. This is the time for US agri-businesses to invest in Africa,” he said. Dr Adesina said the US government must be at the forefront of efforts to encourage fertiliser and seed companies, manufacturers of tractors and equipment, irrigation and ICT farm analytics to ramp up their investments on the continent. He said the AfDB was spearheading a number of transformative business and agricultural initiatives. — @thandyfeminine