President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has passionately called for a renewed focus on agriculture, describing it as Africa’s greatest opportunity for prosperity.
The AfDB boss urged stakeholders to look beyond oil and gas and recognize the untapped wealth in the continent’s vast arable lands.
For Dr. Adesina, agriculture is not just about growing food, it’s about securing the future. “Agriculture is the place to be,” he said. “You may like oil and gas, that’s fine. But nobody drinks oil, and nobody smokes gas. But everybody eats food three times a day.”
He said these during the Africa Investment Forum 2024 Market Days on December 9, which was participated by some 100 Japanese investors and African leaders.
The event showcased how agriculture, combined with innovative technologies and strong partnerships, could unlock unprecedented opportunities in a continent where the agricultural market is expected to reach $1 trillion by 2030.
Stories of transformation and hope were brought to life through the technological innovations unveiled at the forum. Space Shift Inc., a Japanese technology firm, shared how its satellite-powered crop monitoring system is revolutionizing farming in Nigeria.
This AI-driven solution helps farmers predict harvests, monitor crops in real time, and secure credit—a lifeline for many who depend on agriculture for survival.
Similarly, VunaPay’s digital payment platform is bringing dignity and fairness to farmers by ensuring instant payments for their hard work, breaking the cycle of delayed income that has long plagued the sector.
At the event, the Japan International Cooperation Agency (JICA) also outlined its unwavering commitment to Africa, emphasizing initiatives aimed at climate-resilient farming and financial inclusion.
The African Development Bank’s collaboration with Mastercard exemplifies how digital financial services are creating new possibilities for millions of farmers, ensuring that no one is left behind.
