The Emergence of Agri-business in Africa

Professor Daniel Bruce Sarpong from the University of Ghana will give us a research seminar on The Emergence of Agri-business in Africa at our ECRU meeting  room, 3rd floor of Mendel.

It is a harsh paradox that in Africa hunger and malnutrition remain pervasive on a continent with ample agricultural endowments. Could “agribusiness” be a remedy? Africa, a contemporary emerging market with relatively high economic growth has the resources to add value to extricate itself from “poverty”. Africa is sitting on an agribusiness “gold-mine” that is estimated at over $1trillion and currently doing just about 30%. Trade of agricultural products in Africa has continued to expand with global demand for agricultural products expected to remain firm in future decades, and this market evolution is expected to continue and Africa’s agribusiness have taken notice. Despite the “agribusiness” potential of Africa, the average age of farmers in “sub-Saharan Africa” is 60, whilst over 60 per cent of Africa’s population is under 24 years of age.

International Agribusinesses with their relatively advanced agricultural technologies are presenting their business infrastructure to Africa. With “globalization”, “Big Agribusiness” investments are seeking “partnerships” in Africa with resource-optimizing techniques to partner farmers/local agribusiness in the food systems to increase incomes. Africa’s agriculture/food system is therefore undergoing transformation with “globalization” and gone more private-oriented and commercial.

Understanding opportunities and challenges presented by agribusiness elements, will contribute to accelerating productivity, profitability and employment creation in the agricultural sector for the mostly under-employed African youth.

In this presentation, perspectives are drawn of the agribusiness sector in Africa and contextualized by looking at the peculiarities, paradoxes and prospects, new product development in the agri-food industry in Africa, international opportunities for Africa’s agribusiness, critical issues in Africa’s agribusiness and Innovation, and the presentation ends by reflecting on these perspectives and critical issues including providing a supporting environment for the youth in Africa to thrive in agriculture and agribusiness