As years progress and African agribusiness continues to grow, the continent's economy is progressing to strengthen with latest advancements and technologies. You would be surprised to know that African farming industry is pacing high and is projected to be $1 trillion by 2030, according to the World Bank Report. With all these, it shouldn't come as a surprise that 2/3rd of the population in the continent work in the agriculture sector.
The policymakers of all the countries in Africa are taking necessary steps to streamline all the advances. If you are thinking about various advances in agriculture that have lately happened in the continent, you have come to the right place. In this blog, we will be seeing what all had taken place in order to let African farming industry reap maximum benefits.
Moving on a bit with how well structured is the farming sector of Africa, well, it wouldn't be wrong to say that over the years, it has transformed and restructured itself completely. To boost nutrition and climate resilience, farmers are now given proper training and better understanding of how they should proceed with the reap and harvest. Moreover, they have now understood the shift of agricultural tools and why incorporating digitization would only be a benefit and not threat to them.
African farming industry is increasingly adopting contemporary breakthrough such as precision agriculture, biotechnology, and digital tools to improve efficiency, productivity, and profitability. These technologies are not only adding substantial benefits to the farmers but are assisting them to screen the crops post cultivation.
Let us see some of the Government's approaches to strengthen the industry for better.
Government initiatives in African agribusiness:
Agricultural subsidies: Governments in many African countries provide subsidies to farmers in the form of inputs such as seeds, fertilizers, and equipment, which helps to increase productivity and reduce costs. (African Development Bank (AfDB) launched a $1.5 billion African Emergency Food Production Facility last year in May, aiming towards boosting food and nutrition security on the continent).
Infrastructure development: Governments are investing in the development of rural infrastructure such as roads, irrigation systems, and storage facilities to improve access to markets and reduce post-harvest losses.
Land reforms: Many African countries are implementing land reforms to improve land tenure security and facilitate access to credit, which is essential for agribusiness development.
Research and development: Governments are investing in research and development to improve crop yields, develop new varieties, and enhance the resilience of agriculture to climate change.
(Nigeria's National Biotechnology Development Agency (NABDA) and the African Union Development Agency (AUDA-NEPAD) took the lead to enhance agricultural productivity through implementing Genome-Editing technology.)
Trade facilitation: Governments are working to improve trade facilitation by reducing barriers to trade and promoting regional integration, which can improve access to markets and increase competitiveness.
So in an essence, we see that Africa is moving towards a goal of becoming dollar 1 trillion industry. Moreover, just like any other region, African is also eyeing on better prospects and urging both global and international agri players to come and explore the region's prospects. To cater to that - Africa's leading and most established show - the 7th Africa Agri Expo is coming back to the region on 7th and 8th Feb, in Nairobi, Kenya. AAE 2023 is a platform where you can showcase your latest agricultural products, technologies and solutions - all while networking with the right key stakeholders.
To register yourself up, click here: https://africa-agriexpo.com/registration.html