Insights into Africa's investments for sustainable agriculture and food security

As Africa's population continues to rise, the need for sustainable agricultural practices and investments has never been more critical. With an estimated $1 trillion required to achieve food security across the continent, the focus is now on how innovative solutions, partnerships, and funding can transform Africa's agricultural landscape. CNBC Africa spoke to Canisius Kanangire, Executive Director of the African Agricultural Technology Foundation (AATF), for insights into Africa's investments for sustainable agriculture and food security. Dr. Kanangire highlighted the significant areas where investments are needed in Africa's agricultural sector. Firstly, he emphasized the importance of funding research organizations to work on solutions for key challenges in agriculture. Research institutions such as Awarab and Awakarlo play a crucial role in developing innovative technologies and practices. Additionally, investments in knowledge and capacity-building are essential to drive progress in the agricultural sector. Putting in place systems to produce high-quality seeds is another key area that requires funding, as these seeds are vital for enhancing crop yields and productivity. When discussing the magnitude of investment required for Africa to achieve food security, Dr. Kanangire emphasized the need for sustained and substantial funding. He mentioned that approximately $100 billion per year is needed to build the research and deployment capacity necessary to reach the goal of food security on the continent. Although this level of funding may seem challenging to attain, Dr. Kanangire stressed the importance of continuous investment in research, capacity-building, and commercialization to drive progress. The African Conference on Agricultural Technology, a platform that brings together stakeholders including scientists, policymakers, researchers, and farmers, plays a vital role in addressing key challenges in the agricultural sector. By fostering collaboration and knowledge sharing, the conference aims to inspire investment in building the necessary capacities for agricultural technology to empower farmers and enhance food security in Africa. Dr. Kanangire also discussed the lack of substantial investments in African agriculture and the opportunities that exist for investors. He highlighted the need to consider the entire value chain in agriculture, from production to processing to market access. Investments in increasing productivity, resilience to climate change, and infrastructure like storage facilities can create valuable opportunities for investors. Dr. Kanangire emphasized the potential for growth in agribusiness and technology innovations, as well as the role of governments in creating a conducive environment for agricultural investments. When it comes to successful investments in agricultural technologies in Africa, Dr. Kanangire pointed out that there are instances of thriving agricultural businesses, particularly in countries like South Africa. He highlighted success stories in horticulture and crop production where technologies have enhanced productivity and resilience to challenges such as pests and diseases. Governments play a crucial role in creating favorable policies and regulatory frameworks to attract investments and support farmers in realizing returns on their investments. In terms of partnerships between agribusinesses, technology innovators, and financial institutions, Dr. Kanangire emphasized the importance of collaboration in driving the transformation of Africa's agricultural sector. By working together and leveraging each other's strengths, stakeholders can complement efforts and create profitable opportunities. He cited the success of private-public partnerships in AATF's work, where patented innovations are brought to farmers through collaborations with the private sector and government institutions. Addressing the lack of access to funding remains a challenge in the agricultural sector. While efforts have been made to engage with investors and donors, more support is needed to provide tailored financial solutions for agribusinesses and smallholder farmers. Dr. Kanangire highlighted the role of microfinance organizations in supporting farmers but stressed the need for increased funding to drive sustainable agricultural practices and investments in Africa.