Abuja: AfDB Participates in High-level Conference to Promote Agribusiness and Agro-industries in Africa

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From: 08/03/2010
To: 10/03/2010
Location: Abuja, Nigeria

AfDB Fully Supportive of the African Agribusiness and Agro-industries Development Initiative Agenda

The 3-day High Level conference on the development of agribusiness and agro-industries in Africa ended yesterday 10 March 2010 with the Heads of state and government session.

Heads of State, Prime Ministers and Agriculture and Industry Ministers from 44 African countries, as well as heads and representatives of financial institutions and international organizations endorsed the African Agribusiness and Agro-industries Development Initiative (3ADI).

Representing the AfDB President, Vice President Kamal El Kheshen, in his address to the Ministers and Delegates at the ministerial session, expressed the support of the Bank to the African Agribusiness and Agro-Industries Development Initiative (3ADI) which he said, is aligned with the Bank’s Medium-Term Strategy, as well as the recently adopted Bank Strategy for Agriculture Development.

AfDB Agriculture and Agro-Industry Director Aly Abou-Sabaa mentioned that the African Development Bank will continue working with development partners on the implementation of the strategic decisions taken during this conference.

Mr Abou-Sabaa highlighted that the Bank is fully supportive of the 3ADI agenda which was endorsed during the conference. He further pointed out that the Bank, in collaboration with FAO and UNIDO, has developed a Programme for Post-Harvest Losses Reduction (PHL) in Africa. This Programme aims to mobilize investments and carry out interventions over a period of 6 years for a target of reduction of 3% of PHL. Abou-Sabaa invited Governments, Development Partners, Private Sector and Civil Society to join the Bank in the implementation of the Programme, which addresses in particular the infrastructure gaps for the development of the agri-food sector on the continent.

The Heads of State and Government Session was chaired by the Acting President of the Federal Republic of Nigeria, Goodluck Jonathan. He stated that “Africa can surmount the threats of the recession if we can diversify and exploit the available potentials Mother Nature has endowed us. A robust agribusiness and agro-industry sector holds the key to our economic transformation and sustainable development,”

The Acting President also emphasized the need to exploit resources and to produce them for local consumption and export, add value to the numerous agricultural produce and earth resources and remain competitive to overcome the global recession.

The major objective of 3ADI is to increase private sector investment flows into the agriculture sector in Africa by mobilizing resources for agribusiness and agro-industrial development from domestic and international financial systems. It aims to be made up by 2020 of highly productive and profitable agriculture value chains that effectively link small and medium size agricultural producers to markets, supply higher-valued food, fibre, feed and fuel products, contribute to increasing farmers’ incomes, utilize natural resources in a sustainable manner and generate increased and high quality employment.