Investing in Africa’s food future

Africa has long held the potential to be a powerhouse in the global agricultural sector. With vast fertile lands and a growing population, the continent has the opportunity to not only feed its people but also to become a key player in the global food market. However, despite this potential, there are several challenges that Africa faces in maximizing productivity and ensuring food security. A recent discussion on CNBC Africa delved into some of these challenges and potential solutions with experts Wandile Sihlobo, Chief Economist at Agbiz, and Ben Leyaka, CEO of the African Agri Council. One of the key themes that emerged from the conversation was the need for greater investment and policy reform to unlock Africa's agricultural potential and drive economic growth. Sihlobo highlighted the importance of technology and infrastructure in boosting productivity, pointing to the success of South Africa in embracing new agricultural practices. He emphasized the need for policies that create a conducive environment for investment and the importance of land rights in attracting private sector capital. Leyaka echoed these sentiments, noting the importance of policy implementation and the challenges of drafting policies without effective execution. The conversation also touched on the role of international development financial institutions in supporting African agriculture. Leyaka pointed to the interest from DFIs in investing in bankable projects and the need for collaboration between government and the private sector to drive agricultural development. Sihlobo highlighted the potential for increased exports to markets like China but noted barriers such as import tariffs and quality standards that need to be addressed. Despite the challenges, both experts expressed optimism about the future of Africa's agricultural sector. Leyaka emphasized the ambitious goal of achieving food security by 2030 and the role of key stakeholders in driving progress. While implementation remains a key challenge, both Sihlobo and Leyaka believe that with the right policies and support, Africa can unlock its agricultural potential and pave the way to a more food-secure future. As Africa looks to the future, addressing key issues such as technology adoption, infrastructure development, and policy implementation will be critical in driving sustainable growth and transforming the continent's food systems.