African Leaders, Others Pledge $30B In Farm Investments

African Leaders, Others Pledge $30B In Farm Investments

By Henry Lyimo – From Tanzania Daily News via AllAfrica

Prospects for agriculture in Africa took a huge boost last week as leaders, business people and major development partners pledged more than 30 billion US dollars in investments to expedite transformation of the sector.

The collective pledges at the African Green Revolution Forum in Nairobi, Kenya, mark a major breakthrough in efforts to transform agriculture, the mainstay of the economies of most of African countries, to become the key driver of growth.

The pledges believed to represent the largest package of financial commitment to agricultural sector in Africa to date, will be directed to increase production, income and employment for small scale farmers and local African agricultural businesses over the next ten years.

The commitments were made at the official opening of the Sixth African Green Revolution Forum (AGRF) that attracted more than 1,500 influential figures from 40 countries for three days of brokering new agricultural initiatives.

The historic investments represent just the first wave of support for the new ‘Seize the Moment’ campaign one backed by the African Union Commission, the New Partnership for Africa’s Development (NEPAD), the African Development Bank, the Alliance for a Green Revolution in Africa (AGRA), key NGOs, companies and donor countries. While agriculture in Africa has seen significant progress in the last ten years, the ‘Seize the Moment’ campaign.

A frank acknowledgement that much more is needed for African countries to achieve inclusive economic development and ultimately realise the UN’s Sustainable Development Goals (SDGs).

The campaign is a decisive push for the political, policy and financial commitments essential to transform Africa’s agricultural sector. The goal is to make agriculture a new era of business opportunities for the 70 per cent of African population that depend on farming for food and income, yet too often face poverty and poor nutrition.

Read more at AllAfrica