Agriculture and Agribusiness to Drive Industrialization in Africa
Accra, 10 January 2017 - The Agriculture sector currently contributes 16.2% of the GDP of Africa and it still remains untapped. It is an industry that provides employment for over 60% of the population, and without a doubt can be the driver for job creation, poverty alleviation, and economic growth.
Africa has about 65% of the world’s uncultivated arable land and if utilized appropriately, has the potential to feed the 8.5+ billion people expected to inhabit Earth by 2050. Though this is the case, many African countries still import a vast majority of their food. Africa spends approximately $35 billion on foreign currency importing food, and this number is expected to triple by 2030.
To meet the growing demand of food, Africa needs to begin producing its own food locally and incorporating food processing and agro-industrial manufacturing.
One of the main bottlenecks is the lack of financing for the sector. Institutions like African Development Bank (AfDB) and many other organizations have committed large sums of capital to support the African agriculture industry. In addition to the activities directly involved with food production, the infrastructure to support the operations will also need to be built in an efficient manner (roads, water, electricity, accommodation, etc.). It will also be important to incorporate technology in farming operations in order to boost productivity and attract the youth to the industry. Despite the challenges in boosting the sector's growth, a new wave of entrepreneurs driving change will soon revolutionize the continent's most impactful industry. About KDHI KDHI is a leading Agribusiness development firm that trains farmers, merges foreign and local capital, and secures off-take agreements to drive agriculture production in Sub-Saharan Africa and exponentially increase yields through data-driven processes. We work with our investors and strategic partners to bring world-renowned expertise to the countries in which we operate in order to catalyze greater food security for families, better health and nutrition, increased income, greater access to basic social services and increased productivity, as well as generating taxes of all kinds beneficial to the state (export revenue, agricultural equipment, etc.).