Alliance for a Green Revolution in Africa expect to attract hundreds of investment opportunities involving locally based agribusinesses for partnership in order to unlock additional resources during AGRF 2019.
This was revealed by the head of AGRA West Africa when he was delivering the welcome address at the breakfast meeting involving all stakeholders of the sector. The meeting also aimed to assess the role of the Private Sector in the Agribusiness Value Chain Digitalization.
“AGRF is a great opportunity to link new partners to unlock additional resources for the private sector. We expect to attract hundreds of investment opportunities and are particularly keen to get Ghana-based agribusinesses involved,” Foster Boateng, the interim regional head, AGRA West Africa, said.
AGRA has noticed that their resources alone can not transform the agriculture sector therefore there is a need to rally with the private partners to see how best they can make impact for Africa’s agriculture.
Speaking to Agric Today Media, the interim regional head of AGRA West Africa said AGRA and its partners have made investments in areas of seed production, access to fertilizers and access of finance to small holder farmers in the past ten years of its operation.
He added that AGRA has so far invested Sixty million dollars in Ghana’s agricultural sector for the past ten years. The areas invested are research for the scientists to develop new varieties of maize seeds for farmers to improve yield. They have also increased the financial space for the Smes to produce more, as well as invested in the area of extension services through the programme called Village Based Extension Advisors.
AGRA’s major challenge, according to Mr. Boateng has been working in isolation instead of integrated approach. According to him, the AGRA need a delivery model that will bring the private sector players on board.
Discussing the way forward and what to expect from AGRA, he mentioned that AGRA’S new business lines under the strategy are;
Policy and State Capability: AGRA as a go to partner for government in prioritizing agriculture investment to ensure inclusiveness through development of a comprehensive plan to attract the buy-in of DPS, Private sector and Smes to unlock Other resources. This business line is intended to facilitate government’s efforts to creating the enabling business environment to leverage private sector investments for driving sustainable growth in the sector.
Key investment areas under this business line he outlined include developing appropriate sector strategies and investment plans for agricultural transformation, formulate appropriate policies that catalyze and sustain agricultural transformation and promote regional trade, implement sector plans and policies in order to generate sufficient public goods that de-risk the sector, attract private capital investment and facilitate regional trade etc.
AGRA was founded in 2006 following a call by the Late Kofi Annan, who felt that there was a need for uniquely Africa Green Revolution tailored to the needs and aspirations of the diverse continent recognizing the importance of sustainability.
In the first 10 years of its journey to achieving Uniquely Africa Green Revolution, AGRA and its partners (RF, Bill & Melinda Gates Foundation etc.) have focused on improving the productivity of farmers; by enhancing access to quality seeds/planting materials, fertilizer, market, finance etc and also strengthen the Capacity of African Universities and Research Institutions to enhance crop breeding and soil health.
