NEW REPORT PROJECTS AFRICA’S FOOD AND BEVERAGE MARKET TO REACH ONE TRILLION USD BY 2030

NAIROBI, A new report showcasing evidence to guide African governments in successfully mechanizing Africa's agribusiness value chains has been launched here by the Malabo Montpellier Panel, a group of 17 African and international experts, projecting that the African food and beverage market to reach 1.0 trillion US dollars by 2030.

Thanks to advances in renewable energy and digital technology, Africa can leapfrog the stages of technological development other regions have had to undertake, making its mechanization process both swift and extremely lucrative, according to the report, which addresses concerns that the mechanization of African agriculture may diminish employment opportunities.

Currently, urban labour markets are breaking under the pressures of young people migrating from rural areas to cities. By 2030, it is projected that the number of youth in Africa will have increased by 42 per cent. An estimated 30 million young people will join the employment market every year.

Our report busts the myth that mechanization of African agriculture will be labour replacing. When done right, it can be employment-enhancing, said Ousmane Badiane, co-chair of the Malabo Montpellier Panel. Rural employment is critical for reducing poverty, migration and political instability, making mechanization a smart investment for peace and security goals as well.

The launch of the report, entitled Mechanized: Transforming Africa's Agriculture Value Chains, took place at the Malabo Montpellier Forum in Lilongwe, the capital of Malawi, on Tuesday.

African policymakers are eager to deliver on mechanization suitable for their farming communities, commented Saulos Klaus Chilima, the Vice-President of Malawi and co-chair of the Malabo Montpellier Forum. This report provides us with the evidence we need to shape the strategies that will make Africa a place where agribusiness, and those who invest in it can thrive.

Source: NAM NEWS NETWORK