Private Sector Liaison Officers’ Network and DFIs share ideas on Climate Smart Agriculture
The Private Sector Liaison Officers’ Network (PSLO) organized a Climate Smart Agriculture mission in Abidjan, Cote d’Ivoire,13-17 May 2018. During the four-day program, prominent agriculture experts of various Development Finance Institutions and company representatives networked and shared ideas and experiences on agriculture sector strategies, priorities and portfolios of the African Development Bank, the World Bank and other agencies with a view to foster partnerships.
Agriculture is an integral part of the African economy. it accounts for over 51 percent of jobs across the continent. Despite its central role, the agricultural sector represents only a quarter of Africa’s GDP due to the low productivity of the sector.
Feed Africa is one of the Bank’s High 5 priorities to speed up the continent’s development. The Bank has developed a strategy for long-term agricultural transformation in Africa and has set up an action plan to unlock the continent’s agricultural potential.
The African Development Bank welcomed the delegation at its headquarters on 15 May. It was a unique opportunity to present the Bank’s strategy and priorities for a transforming Africa to the delegation. In addition,, the Agriculture, Finance and Rural Development department presented the Bank’s Feed Africa strategy as well as public and private sector projects in agriculture.
There are many challenges facing the sector including perceived and actual risks of deals and land related issues. The agribusiness sector has numerous smaller and medium enterprises that are greenfield in nature. Opportunities include collaborating with private sector companies from Spain, France and Canada with experience, track record and technologies from their own countries to support the transformation of agriculture as a business.
About the PSLO Network
The PSLO Network comprises over 160 business Intermediary organizations (chambers of commerce and industry, business and trade associations, or investment promotion agencies) in more than 100 countries.