This page is dedicated to provide some background information and statistics, even though statistics alone do not paint the whole picture, but it will give you a better understanding and relevance of the business opportunities on the African continent.
The African Union declared the year 2014 to be the Year of Agriculture and Food Security in Africa, marking 10th Anniversary of the adoption of the Comprehensive Africa Agriculture Development Programme (CAADP) (source). So it’s only fair to say that the Agriculture sector of Africa is top of the list during this edition of the European African Business Development Conference.
Did you know that agriculture in Africa:
- …is essential for sub-Saharan Africa’s growth and for achieving the Millennium Development Goal of halving poverty by 2015?
- …employs 65 percent of Africa’s labor force and accounts for 32 percent of gross domestic product?
- …has improved its performance since 2000, but growth is not yet fast enough. Agricultural GDP growth in sub Saharan Africa has accelerated from 2.3 percent per year in the 1980s to 3.8 percent per year from 2000 to 2005. Growth has been mostly based on area expansion, but land is scarce and many countries are facing limits to further expansion. Land and agricultural productivity must increase because African farm yields are among the lowest in the world?
Higher and sustained growth will require attention to five core areas of public action:
- Facilitating agricultural markets and trade;
- Improving agricultural productivity;
- Investing in public infrastructure for agricultural growth
- Reducing rural vulnerability and insecurity; and
- Improving agricultural policy and institutions.
The World Bank Group reports: Africa’s Agriculture and Agribusiness Markets Set to Top US$ One Trillion in 2030
The Report called “Growing Africa: Unlocking the Potential of Agribusiness” was presented and discussed at the European African Business Development Conference 2012 by Tugba Gurcanlar, Trade Specialist at the World Bank Group.
Chemical Market in Africa
Chemical Market in Africa is highly import dependent. With more than 90% of it being imported, this means there is great opportunity for market development in this sector. Almost all the sectors make use of chemical, but if we should narrow it down to chemical and agriculture, we can understand the great need of chemical in agricultural sector in Africa. Agriculture in Africa is growing, and the need for pesticide, fertilizer etc cannot be contained by the growth if importation is not enhanced.