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April 18th, 2018 / IEG Policy

Africa is making steady progress towards agricultural transformation. Over the past decade there has been a dramatic change in different countries and various localities. There is a noticeable upward shift in expenditure on agriculture by national governments in African countries.

Many countries have reaffirmed their commitment to prioritizing agriculture in their development agendas and are investing an increased proportion of their budgets in the sector from a growing national revenue base. There is evidence of faster growth in agricultural productivity, improved nutrition, and greater job expansion even in the non-farm segments of their economies.

Africa is a market that until recently has been underdeveloped and somewhat dormant but shows signs of strong growth. This comes at a time when land availability and food production are decelerating in other geographies.

The private sector is increasingly investing in agriculture, and the foundations have been laid for a renaissance in Africa’s agriculture, one powered by the enormous progress increasingly evident in farmers who are gaining more options in the seeds they plant, in the fertilizers and crop protection products they use, and in the markets available to purchase their produce. Read more