Browsing: Akinwumi Adesina

Site machine operator. Releaf making African farmers and food factories more efficient and profitable. www.theexchange.africa
  • By adopting technology, the continent is able to leverage the young to increase productivity in the agricultural sector.
  • According to UNIDO and FAO, agricultural mechanization is part of agro-industrial development.
  • Technology transfer is immediately needed since evidence from countries like Nigeria demonstrates that with strong government backing, it yields positive results. 

Africa has the capability to feed the world. 

This statement may sound farfetched and raise eyebrows amongst those who know Africa as the Dark Continent and nothing more. Interestingly, this is the reality for the world since the potential the youngest continent has to offer is unmatched. 

In 2017, the United Nations Data for World Population Prospects showed that Africa was the world’s youngest continent where 60 per cent of the population was aged under 25 years.   At the time, and despite these young people living in some of the world’s fastest-growing economies, they faced a largely insecure future

Africa’s economies are growing strongly, but growth alone cannot meet the needs of the continent’s poorest citizens, because “nobody eats GDP,” said Akinwumi Adesina, the President of the African Development Bank during the 2020 African Economic Outlook.

According to the 2020 African Economic Outlook, Africa’s economies are growing well, higher than the global average. The report anticipated a steady rise in growth in Africa from 3.4% in 2019 to 3.9% in 2020 and 4.1% in 2021.

According to the report, these figures do not give all the details. Because across the continent, the poor are not seeing the benefits of strong growth. Comparatively, few African countries posted substantial declines in extreme poverty and inequality, which remain higher compared to other regions in the world.

The report also revealed only 18 of 48 African countries with data, had inclusive growth.

Also Read: African Development Bank approves $22m to Egypt

“Growth must …

The UK-Africa Investment Summit held on Monday saw attendance from dignitaries and delegates from 16 African countries, including President El Sisi of Egypt and Boris Johnson British Prime Minister.

During his opening speech, Prime Minister Johnson said “Look around the world today and you will swiftly see that the UK is not only the obvious partner of choice, we’re also very much the partner of today, of tomorrow and decades to come,”

He referred to Africa as a booming continent with “staggering levels of growth”

Also Read: Seven African climate-resilient projects get ACCF funding

This was the first UK-Africa Investment Summit hosted by the UK Government. It was attended by the foreign secretary, Dominic Raab, the international development secretary, Alok Sharma and Prince Harry.

A plenary panel discussion on ‘Sustainable Finance and Infrastructure – Unlocking the City of London and UK financial services for growth in Africa’ was discussed by …