India To Unlock Africa's Agribusiness Potential

The World Bank in a report, "Growing Africa: Unlocking the Potential of Agribusiness", says that Africa's farmers and agribusinesses could create a trillion-dollar food market by 2030, a three-fold increase from the current size of the market which is estimated to be worth $313 billion.

This expected growth highlights the fact that Africa is a new market for agribusiness firms and related value chain players, says Charles Brewer, managing director for DHL Express Sub-Saharan Africa.

"The retail sector is booming in Africa, as is the rapid growth of populations and the African middle class. As a result of this expansion, there is a greater availability of and demand for good quality agricultural produce and processed food products than ever before," says Brewer.

Agribusiness entails the full value chain from farming through secondary processing, distribution and retailing to the end user-consumer.

Hennie van der Merwe of South Africa-based Agribusiness Development Corporation (ADC) says Africa is currently experiencing a revival in terms of its focus on agribusiness, not only to increase food self-sufficiency but also to create jobs and economic activity, specifically in rural areas.

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