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Africa spends $35 billion on food imports each year, AfDB boss reveals
• Over 800 million people worldwide suffering from hunger
WITH over 800 million people worldwide suffering from hunger and more than two billion affected by malnutrition, food insecurity remains a real threat to global development.
Adesina, who is making a global pitch for renewed visionary leadership and strategic alliances, “the future of food in the world will depend on what Africa does with Agriculture.”
The African Development Bank, which he leads, envisions a food secure continent which uses advanced technologies, creatively adapts to climate change, and develops a whole new generation of what he describes as ‘agripreneurs’ – empowered youth and women who he expects to take agriculture to the next level.
By 2050, an additional 38 million African will be hungry. The paradox of lack in the midst of plenty, and Africa’s growing youth bulge are some of the reasons why Adesina’s sense of urgency is resonating with numerous government, private sector, and multilateral leaders during recent European and Asian trips. The banker and 2017 World Food Prize Laureate will be the first to admit that he considers himself the ‘evangelist-in-chief’ for a food secure Africa.
Africa continues to import what it should be producing, spending $35 billion on food imports each year, a figure that is expected to rise to $110 billion in 2025 if present trends continue.
A few days later, Adesina joined Rockefeller Foundation President Raj Shah, Unilever CEO Paul Polman, and 2018 World Food Prize nominees Lawrence Haddad and David Navarro, among other prominent global academic, development, and agriculture experts at Wageningen University and Research, in the Netherlands, to make the case for urgent collective action by State and non-State players to accelerate Africa’s agricultural growth and transformation.
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Africa receives only 2 percent of the $100 billion annual revenues from chocolates globally. Adesina tells his audience that “adding value to what nations produce, is the secret to their wealth. Producing chocolate instead of simply exporting cocoa beans does not require rocket science.”
To expand opportunities for youth, women, and private sector players, Adesina is on a global mission to promote and seek support for the bank’s Affirmative Finance for Women in Africa (AFAWA) program which aims to mobilize $3 billion to support women entrepreneurs who historically lack access to finance, land, and land titles; a $300 million ENABLE Youth program to develop the next generation of agribusiness and commercial farmers for Africa; and a new global investment marketplace, the African Investment Forum, which will be held in Johannesburg November 7-9.
In separate meetings with Sigrid A.M. Kaag, Minister for Foreign Trade and Development Cooperation, in the Hague; Peter van Mierlo, CEO of the Dutch Entrepreneurial Development Bank (FMO), key private sector players, and members of the Dutch Foreign Affairs Advisory Council, Adesina said Africa and its partners must seize unprecedented opportunities for innovative partnerships and increased development impact.
Mierlo believes, “a huge benefit for Africa is that it can skip development cycles that often almost all developed countries had to go through, by deploying new technologies such as artificial intelligence and robotics in agriculture”.
In a continent where more than 640 million are without electricity, Adesina says the private sector is key to Africa’s development in Africa’s energy and agriculture sectors.
“If Africa is going to turn the tide of irregular migration, this is critical. There are three ways in which we can collaborate: either through the NEPAD Infrastructure Project Preparation Facility, Africa 50 – a private equity institution which has raised more than US$ 850 million from 22 countries, and the new Africa Investment Forum.”
Adesina, recognizes that the lack of electricity is Africa’s biggest development impediment. The Bank’s new and ambitious Desert-to-Power initiative which aims to generate 10,000MW of power across Africa’s Sahel region will be critical to reducing migration and climate change impacts. We will do this through a blended finance mechanism with guarantees”, Mr. Adesina said.
https://iso.keq.mybluehost.me/korea-announces-5-billion-financial-package-for-africa-at-afdb-annual-meetings/
Speaking to a High-level Roundtable of Dutch Business Leaders at the Netherlands Enterprise Agency (RVO), informed key private sector leaders that “governance structures and business regulatory environments are changing in Africa. Indeed, several African countries have already made significant progress in improving their general business and investment environments. Africa is doing better than some of the Asian countries,” he reminded his audience. “In the energy sector, the African Development Bank is investing $12 billion over the next 5 years, with the goal of leveraging $40-50 billion; and an additional $US 24 billion, over ten years, in agriculture to implement its Feed Africa Strategy.”
Agriculture steadily taking center-stage
The strategy is already bearing fruit with the establishment of Staple Crop Processing Zones in several African countries, including Ethiopia, Togo, Democratic Republic of Congo, and Mozambique, with a plan to reach 15 countries in a few years.
Strategically located in and around rural farming communities Adesina says “these agriculture zones will form the nucleus of a new wave of agro-industries and greenfield ventures, attracting agripreneurs, biotechnology firms, intellectual and capital investments. They will also ensure that foods are processed and packaged right where they are produced, rather than in urban centers far removed from centers of production.”
Described as a visionary optimist by many colleagues, Adesina believes the bank’s policies and investments will help turn rural areas from zones of economic misery into zones of economic prosperity.
The Nigerian National Petroleum Company Limited (NNPCL) has dismissed media reports suggesting that the recently resuscitated old Port Harcourt refinery has been shut down, labeling such claims as baseless and misleading.
In a statement issued in Abuja on Saturday, the Chief Corporate Communications Officer of NNPCL, Olufemi Soneye, clarified that the refinery, with a capacity of 60,000 barrels per day, is “fully operational.”
The facility resumed operations two months ago after years of inactivity.
“We wish to clarify that such reports are totally false, as the refinery is fully operational, as verified a few days ago by former Group Managing Directors of NNPC,” Soneye said.
He added that preparations for the day’s loading operation are currently underway, emphasizing that the public should disregard the claims.
“Members of the public are advised to discountenance such reports as they are the figments of the imagination of those who want to create artificial scarcity and rip off Nigerians,” Soneye stated.
The old Port Harcourt refinery is part of the country’s efforts to revive its local refining capacity. Three years ago, the Federal Government approved $1.5 billion to rehabilitate the plant, which was initially shut down in 2019 due to operational challenges.
Despite being one of the largest oil producers globally, Nigeria has long relied on fuel imports to meet its domestic needs, swapping crude oil for petrol and other refined products. This dependency, coupled with government subsidies, has strained the nation’s foreign exchange reserves.
The recent return of the Port Harcourt refinery to operation follows the commissioning of the Dangote refinery, which began petrol production in September 2024. These developments are expected to reduce Nigeria’s reliance on imports and address long-standing issues in the petroleum sector.
The Inspector General of Police, Kayode Egbetokun, has declared that the era of armed and bank robberies in Lagos State is a thing of the past, attributing the success to the collaborative efforts between the police and the state government.
Egbetokun made this statement on Thursday during the 18th Annual Town Hall Meeting on Security organized by the Lagos State Security Trust Fund (LSSTF). He noted that since 2007, only one bank robbery had been successfully executed in the state, which occurred in 2014.
“There was a time when armed robbery and bank robbery were common in Lagos. However, I can confidently say that since 2007, only one bank robbery succeeded, and that was as far back as 2014. The days of armed robbery and bank robbery are gone,” he said.
The IGP commended the Lagos State Government for its consistent support, emphasizing the critical role it has played in maintaining security in the bustling economic hub of the nation. He highlighted the challenges posed by the state’s continuous internal migration, with thousands of people moving into Lagos daily, creating additional security demands.
“What we are doing here today is the usual assistance the state government has been giving to the police. Without this, we would have been overwhelmed with insecurity in Lagos State,” Egbetokun added.
At the event, Governor Babajide Sanwo-Olu further demonstrated his administration’s commitment to security by donating over 250 brand-new patrol vehicles, along with hardware, communication gadgets, and protective gear to the police.
In his address, Sanwo-Olu outlined the government’s efforts to scale up the use of technology and data for improved security and traffic monitoring. He revealed plans to deploy drone technology for surveillance of waterways and densely populated areas.
“The EGIS component of our mapping and digitalization has almost been completed. Lagos is now properly mapped, and drone technology will be deployed to enhance monitoring, crowd management, and traffic assessment. This will ensure real-time responses to incidents,” the governor explained.
Chad announced Thursday that it was ending military cooperation with former colonial power France, just hours after a visit by French Foreign Minister Jean-Noel Barrot.
“The government of the Republic of Chad informs national and international opinion of its decision to end the accord in the field of defence signed with the French Republic,” foreign minister Abderaman Koulamallah said in a statement on Facebook.
Chad is a key link in France’s military presence in Africa, constituting Paris’s last foothold in the Sahel after the forced withdrawal of its troops from Mali, Burkina Faso and Niger.
“This is not a break with France like Niger or elsewhere,” Koulamallah, whose country still hosts around a thousand French troops, told AFP.
At a press briefing after a meeting between President Mahamat Idriss Deby and Barrot, Koulamallah called France “an essential partner” but added it “must now also consider that Chad has grown up, matured and is a sovereign state that is very jealous of its sovereignty”.
Barrot, who arrived in Ethiopia on Thursday evening, could not immediately be reached for comment.
– ‘Historic turning point’-
Chad is the last Sahel country to host French troops.
It has been led by Deby since 2021, when his father Idriss Deby Itno was killed by rebels after 30 years in power.
The elder Deby frequently relied on French military support to fend off rebel offensives, including in 2008 and 2019.
It borders the Central African Republic, Sudan, Libya and Niger, all of which host Russian paramilitary forces from the Wagner group.
Deby has sought closer ties with Moscow in recent months, but talks to strengthen economic cooperation with Russia have yet to bear concrete results.
Koulamallah called the decision to end military cooperation a “historic turning point”, adding it was made after “in-depth analysis”.
“Chad, in accordance with the provisions of the agreement, undertakes to respect the terms laid down for its termination, including the notice period”, he said in the statement, which did not give a date for the withdrawal of French troops.
The announcement comes just days after Senegal’s President Bassirou Diomaye Faye indicated in an interview with AFP that France should close its military bases in that country.
“Senegal is an independent country, it is a sovereign country and sovereignty does not accept the presence of military bases in a sovereign country,” Faye told AFP on Thursday.
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