Strategy for Agricultural Transformation in Africa 2016-2025, AfDB
The scale of resources required for transformation is significant: the transformation of a selection of 18 value chains will cost an estimated $315-400bn over 2015-2025. This exceeds by far – the funds available from the public sector; private sector capital is needed, and there are sufficient funds in African capital markets if they can be appropriately mobilized by the public sector. Net banking assets are $800bn in Sub-Saharan Africa alone and sovereign, pension and private equity funds constitute combined net assets of $550-600bn. Transformation of the CAADP goals and Malabo commitments will require a combination of resources from a broad set of public and private sector actors, and therefore coordination and partnership as well as the development of innovative financial instruments to incentivize this partnership is essential to achieve transformation. In October 2015, the Bank – in association with the AUC, UNECA, and the Government of Senegal – organized a high-level Ministerial Conference (HLC) on “Feed Africa: An Action Plan for African Agricultural Transformation” in Dakar to map out, within the CAADP goals and Malabo commitments, how to unlock Africa’s agricultural potential and boost job creation with a view to diversifying African economies. The HLC was attended by over 600 participants, including African Ministers Finance, Planning and Economy, the Ministers of Agriculture and Rural Development, select Ministers of Industry and Trade as well as Central Bank Governors; the research institutes, the academia, investment agencies, civil society organizations and experts across the continent and beyond. This Strategy builds on the commitments made at this event as well as the existing activities and prior commitments.
Illustration Photo: During harvest time cocoa farmers need all their time and support of employees to separate the cocoa beans from the pots (Credit: ICCFO/Wikimedia Commons CC BY-SA 4.0) https://adalidda.net/posts/Pvo8WrmwjHBSMg7v6/strategy-for-agricultural-transformation-in-africa-2016-2025