At the 2018 Africa Investment Forum organised by the Africa Development Bank, top business leaders called for massive investment into the agriculture sector, predicting its potential value at US$1 trillion business by 2030.

During that conference, Ms Jennifer Blanke, the Africa Development Bank Vice President for Agriculture, Human and Social Development, said: “Understand that by transforming Africa’s agriculture sector, it will become the engine that drives Africa’s economic transformation through increased income, better jobs, higher on the value chain, improved nutrition, and so on,”

Africa urgently needs economic growth, jobs, good nutrition, high incomes, and import substitution.

The above will not, however, come on a silver platter. Instead, many SMEs need to venture into the sector, grow and sustain it. A swift mindset change from where the mention of agriculture leaves many people attuned to the tedious farm production is needed. Agriculture is more than digging with that hand hoe or a plough. There are so many businesses worth billions of shillings that can be created along the agriculture value chain.

Africa’s agribusinesses, including seed, fertiliser, mechanisation, processing, transport, trade, distribution, and storage, are all areas waiting to be exploited.

For instance, a study by the Economic Policy Research Centre, Makerere University, shows that Uganda needs to produce approximately 25,400 metric tons of quality Irish potato seed valued at Shs28.1 billion (US$ 8.2million). As of now, the country lacks that capacity and thus missing out on the Shs28.1billion. There are many such opportunities in agribusiness that like-minded SMEs can tap into and contribute to the continent’s wellbeing.

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Yet, Africa is merely scratching the surface with regards to its value addition potential. As a continent, more so after the launch of the African Continental Free Trade Area (AfCFTA), which guarantees a market of an estimated 1.3 billion people, it is an excellent opportunity to expand agribusiness to tap into this trade.

Adding value to our agriculture produce will propel the realisation of the backward and forward linkages along the sector value chains. It is value addition that will enable farmers to get better markets for their produce.

That is why this year’s Strategic Leaders’ Summit, an annual event by Human Capital International (HCI), will focus on helping agribusinesses and SMEs tap into the opportunities provided by AfCFTA.

Under the theme: ‘Agribusiness and SMEs, Digital Economy under AfCFTA’, HCI’s Strategic Leaders’ Summit, known for its thoughtful deliberations, will guide SMEs on

what to do to grow and expand under the continental trade.

Recommended article: What SMEs need to do to ready for continental trade.

At HCI, we are aware that SMEs are the backbone of Africa’s economy. Our responsibility is to use our expertise in discovering, starting, and nurturing businesses to help SMEs prosper.

The free virtual Summit set for February 25 will comprehensively discuss the transformation of agribusinesses and SMEs, the sectors where Africa has a competitive advantage.

It is a conference that you ought to be part of, and you can do that by clicking here

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