But is Africa ready to develop this sector as it is still plagued by unsupportive government policy, inadequate financial backing and unpredictable weather patterns?
Wessel Lemmer, senior agricultural economist at Absa Agribusiness (a member of the Barlcays
Africa Group Ltd), says Africa should look to the US where companies are employing expensive technologies to meet increasing food demand. African farmers need to be educated about how to make use of this technology and have to find property that can be put down as security when financing projects, says Lemmer.
“With technology you also need to have policy certainty about agriculture, about land. [There needs to be] stable, more democratic based governments where you can see economic growth which is also needed.”
Lemmer tells Africa Inc what type of technology farmers can make use of to ensure food security.
heavily in the agricultural sector. “In Africa, 40% of everything we produce is lost due to lack of storage facilities, poor infrastructure and disrupted markets.”
In Tanzania the foundation has helped to produce hermetic storage for maize and grains, which prevents contamination by insects and moisture, increasing shelf life and reducing wastage.
Biteye explains how a lack of information about the agricultural market is hindering many African farmers’ growth in the sector.
Source: PAEPARD FEED