Farmers in Africa need between $1.25 million (Sh125 million) and $1.50 million (Sh150 million) each to take their agribusiness to the next level of growth, according to the Alliance for a Green Revolution in Africa (AGRA).
And some 1,500 delegates at the forum were told that the gap between the demand and supply creates a great opportunity for investors with money for lending.
“It is an especially good opportunity for banks and venture capitalists who can come up with funding to meet the growing demand,” the delegates were told.
The forum was designed to showcase examples of agricultural transformation in action, and to promote efforts to drive and achieve scale as well as accelerate impact.
The forum also provided an opportunity for the delegates to maximize opportunities to meet, share, network and learn.
The forum which ended on September 5, 2016 l brought together heads of state and government, farmer organizations, business leaders and captains of industry, eminent thought leaders, development partners, researchers, and finance and investment leaders.
The delegates shared insights on how to create, align and leverage financial, technical, policy and market-expanding resources to develop game-changing and inclusive agribusiness models for Africa.
A statement issued at the fprum, AGRA said African faced increasing challenges of climate change, rapidly growing urban populations, and an urgent need for jobs.
“Agriculture offers solutions, providing a clear path to food security and employment opportunities for all Africans. We have seen through our collective efforts across the agriculture sector that there are innovations, institutions, programs, and policies that work.
“This gathering is our collective opportunity to highlight the best elements of Africa’s agriculture, the changes that are allowing farming families to lift themselves out of poverty by embracing farming as a business.”