Food & agribusiness potential are crucial to economic development
According to Cape Business News website, Ernest Tettey, chief portfolio officer at the African Development Bank (AfDB), says the potential in Africa of agriculture, through its sub-sectors of food and agribusiness, is immense. If effectively harnessed, he says, agriculture will be a key driver of Africa's economic development and its ability to complete globally in the foreseeable future.
The AFD has a mandate to contribute to the sustainable economic development and social progress of its regional members by mobilising and allocating resources for investment in its regional member countries. "For several SSA countries," Tettey says, "the share of agribusiness services and manufacturing is expected to account for at least a third of GDP growth rate."
Tettey tells the Cape Business News website that, with the current challenges in the global food environment, "the need to invest in the region's agriculture sector has become more imperative than ever." He adds that the investments will contribute to job creation, enhancement of food security, income generation, poverty reduction and skills transfer."
Read the full article on www.cbn.co.za.
