High-level officials from across the African continent and private sector stakeholders are set to chart an actionable plan aimed at accelerating the region’s agricultural transformation at an event dubbed the Leadership4Agriculture (L4Ag) Forum.
The affair, which was organized by the African Development Bank (AfDB), in collaboration with humanitarian groups, Initiative for Global Development (IGD) and Grow Africa, is the first high-level meeting of its kind and will be held on November 28th at the AfDB headquarters in Abidjan, Côte d’Ivoire.
“The Leadership4Agriculture Forum is an opportunity for private sector leaders and high-level African officials to strengthen their partnership by identifying their aligning interests so that Africa’s agricultural sector can reach its full potential,” said IGD President, Mima Nedelcovych.
The invitation-only L4Ag Forum will assemble influential leaders, ensuring dialogue, advocacy and policy action to drive Africa’s agriculture transformation.
The event comes at a time when Africa’s agriculture sector is projected to create $1 trillion by 2030. The AfDB states that despite this tremendous potential, total investment in the sector falls short of levels required to deliver fundamental change fuel agricultural transformation.
According to the African Development Bank, between $315 billion and $400 billion is required over the next ten years to transform strategic agricultural value chains.
Constraints to the development of the agribusiness sector in Africa include low yield; an unsupportive enabling environment; insecure land tenure; insufficient/inadequate hard and soft infrastructure; poorly developed marked linkages; limited value-added processing capacity; high post-harvest losses; insufficient inclusion of youth and women; and limited access to technologies, information, skills, and finance.
Guided by recent findings from the World Bank’s 2017 ‘Enabling the Business of Agriculture Report’ and the 2017 ‘Africa Transformation Report’ by the African Center for Economic Transformation (ACET), the L4Ag Forum will focus on harnessing agriculture and agribusiness as an engine of economic transformation in Africa.