Africa’s agriculture market is expected to rise to a valuation of $1 trillion by 2030, said President of African Development Bank (AfDB), Akinwumi Adesina.
Adesina said this on Thursday during a keynote address at the 94th US department of agriculture outlook forum held in Virginia.
The fact though is that agriculture is a huge wealth-creating sector that is primed to unleash new economic opportunities that will lift hundreds of millions of people out of poverty,” he said.
Adesina appealed to the American business community to invest massively in Africa’s agricultural sector.
“Think about it, the size of the food and agriculture market in Africa will rise to $1 trillion by 2030. This is the time for US agri-businesses to invest in Africa.
“And for good reason: Think of a continent where McKinsey projects household consumption is expected to reach nearly $2.1 trillion and business-to-business expenditure will reach $3.5 trillion by 2025. Think of a continent brimming with 840 million youth, the youngest population in the..."
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