Skip to main content

Africa holds almost 50% of the world’s uncultivated land - World Bank

The World Bank says Africa holds almost 50 percent of the world’s uncultivated land, which is suited for growing food crops comprising as many as 450 million hectares that are not forested, protected or densely populated.

The Bank in its latest report launched on Monday titled: ”Growing Africa: Unlocking the Potential of Agribusiness”, said Africa used less than two percent of its renewable water sources, compared to a world average of five percent.

The Director of the sustainable Development Department for the Africa Region, at the World Bank, Mr Jamal Saghir said, Africa’s farmers and agribusinesses could create a trillion-dollar food market by 2030.

According to him, that could only be done if they expanded their access to more capital, electricity, better technology and irrigated land to grow high-value nutritious foods.

He also indicated that African governments could work more closely with agribusinesses to feed the region’s fast-growing urban population.

He said Africa’s food systems, currently valued at US$313 billion a year from agriculture, could triple if governments and business leaders radically rethink their policies and support to agriculture, farmers, and agribusinesses, which together account for nearly 50 percent of Africa's economic activity.

“The time has come for making African agriculture and agribusiness a catalyst for ending poverty,” Makhtar Diop, World Bank Vice President for Africa Region said.

Mr Diop stated that Africans could not overstate the importance of agriculture to Africa’s determination to maintain and boost its high growth rates, create more jobs, significantly reduce poverty, and grow enough cheap, nutritious food to feed its families, export its surplus crops, while safeguarding the continent's environment.

He opined that African countries could tap into booming markets in rice, maize, soybeans, sugar, palm oil, bio-fuel and feedstock and emerge as major exporters of these commodities on world markets similar to the successes scored by Latin America and Southeast Asia.

Mr Diop noted that for Sub-Saharan Africa, the most dynamic sectors were likely to be rice, feed grains, poultry, dairy, vegetable oils, horticulture and processed foods to supply domestic markets.

The Director of Agribusiness at the International Finance Corporation, Mr Oscar Chemerinski, mentioned that there were now much better opportunities to tap private sector financing for agricultural development.

He said companies could provide financing directly through interlinked value chains, provided that contracts would be enforced, especially for high value exports and some products that required immediate proceeding.

The World Bank Director for Financial and Private Sector Development in Africa, Mr Gaiv Tata, also stated that African farmers and businesses must be empowered through good policies, increased public and private investments and strong public-private partnerships.

He said agriculture and agribusiness should be at the top of the development and business agenda in Sub-Saharan Africa.

He therefore called for strong leadership and commitment from both public and private sectors for the development of the agriculture sector.

The report notes that Africa can also draw on many local successes to guide governments and investors toward positive economic, social and environmental outcomes.

Comments

Popular posts from this blog

PIAC told to go to court to enforce recommendations

By: Fred Yaw Sarpong
sarpong007@gmail.com

The Public Interest and Accountability Committee (PIAC), the mandated body to monitor the use of Ghana’s oil revenues has been asked to go to court to seek strict compliance of the laws covering accountability of oil funds in the country.

According to Dr. Steve Manteaw, the Campaign Coordinator for ISODEC and a member of the PIAC , it’s time for PIAC as a body to consider going to court to compel institutions responsible for managing Ghana’s oil revenue to answers some questions concerning the expenditure of oil funds.

He pointed out that there are several recommendations made by the PIAC in its past reports on management of petroleum revenues, and a lot of these recommendations has received no positive response from the institutions concerned.

He disclosed this to the Daily Express at a three-day workshop on Interrogating the 2016 Semi Annual PIAC Report at Koforidua in the Eastern Region.

The workshop was organized by the Institute of Financ…

BoG shuts down two financial institutions

The Bank of Ghana has closed down two financial institutions in the country. This was after the central bank investigation revealed that the two companies were operating without approval.

The two companies were Agro Development Fund Services Limited (ADFSL) and Hebron Financial Investment Limited (HFIL).

The Daily Express gathered that the ADFSL was asked to stop operating after the central bank realized the institution had not been licensed to take deposit from the public.

A statement from BoG said the ADFSL continued to operate despite the orders from the Bank of Ghana. It however closed down ADFSL’s operation until further notice.

The Bank of Ghana said that the ADFSL is located at Asufufu, opposite the Sunyani Traditional Council in the Brong Ahafo region.

“The decision to close down ADFSL is in furtherance of section 20(2) (g) of the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930). Bank of Ghana has investigated ADFSL thoroughly and has concluded that its a…

Graphic Communication Group staffs petition GJA Election Dispute Adjudication Committee

Some staffs of the Graphic Communications Group have petition the Election Dispute Adjudication Committee of the Ghana Journalists Association (GJA) concerning their grievances covering issues affecting the association.
The staffs of the company seeks some clarification on the mandate of the current executives of the association.

BELOW IS THE FULL STATEMENT (Not edited)
Dear Sir,
DISPUTE ABOUT THE MANDATE OF THE EXECUTIVES OF THE GHANA JOURNALISTS ASSOCIATION AND THE LEGALITY OF THE GJA ELECTIONS OF 2017
We the undersigned write to place before you our grievances covering issues affecting the Ghana Journalist Association, and we hasten to add that our grievances are placed before you in furtherance of our constitutional duty under Article 11 (e) of the 2004 Constitution of the Ghana Journalists Association.
We first of all seek clarification on the mandate of the current executives of the Association to be in office and take decisions to affect the wellbeing and welfare of the Associ…