The African Development Bank (AfDB) has proposed new investment strategies in Africa’s agriculture sector, which, if properly implemented, would effectively alter the market structures around the world in favour of the African farmers of major cash crops like tea, coffee, and cocoa.
AfDB Vice-President for Regional Development, Integration and Business Delivery, Khaled Sherif, says for the farmers to close the gaps currently slowing the industrialisation of agriculture, investment strategies should be tailored towards providing high-yielding seeds and making large farms more productive, according to World Stage Group.
“Africa trails the rest of the world in the economies of scale, yet we have seen how economies of scale can work in agriculture. We have seen how it can be done using the right seeds and turning the large farms into large productivity regions. This will ensure Africa does not export just the unprocessed food while we import the processed food worth $35b,” Sherif said Monday during discussions on Transforming African Agriculture into a Lucrative Business at the 52nd session of the AfDB Annual Meetings. Read more