Africa currently spends US$35 billion on importing food per annum, with this figure projected to grow to US$110 billion by 2025.
The continent is therefore importing what it should be producing, said Akinwumi Adesina, president of the African Development Bank (AfDB), commenting that Africa needed to increase its investment in science and technology to become more efficient and competitive in agriculture.
He said in a statement that Africa had about 65% of the world’s undeveloped, arable land – providing massive opportunities for agricultural development.
“What Africa does with agriculture has far-reaching implications that are way beyond the continent. It could shape the future of food in the world – and that’s why greater investment in the space is a prerequisite,” said Adesina.
