African leaders urged to recommit to boosting continent’s agriculture sector
Economic Commission for Africa ( ECAs) African Trade Policy Center (ATPC) Program Management Officer Batanai Chikwene has urged African leaders to honor their commitment to allocate 10 % of their budgets to agriculture to improve food security, reduce poverty and spur economic growth. He was speaking during the Intra-African Trade Fair (IATF) in Cairo, Egypt.
He said that with the continent of Africa, Free Resources (AFCFTA), more resources were needed to support agriculture and smallholder farmers.
"The AfCFTA will be or immense help to small scale farmers and start-ups on the continent. In addition to providing them with 97 percent market access and a framework for trade facilitation, it will eliminate barriers inhibiting their growth. But then access to finance is important, which is why I believe that the time is ripe for us to increase our capacity for farmers to increase productivity, "he added.
Mr. Chikwene said with the AfCFTA, Africa's farmers need not only to feed people in their own countries but also to penetrate international markets. He continued that the private sector also has a crucial role to play in helping to finance the sector, adding Africa's small scale farming was key to the continent's economic success, and the need for refocusing on the sector.
African leaders agreed in Maputo, Mozambique, in 2003 to refocus national attention to building stronger, more dynamic agriculture sectors. In the Maputo Declaration, they agreed to re-invest 10 percent of their national budgets to improve food security, reduce poverty, and spur rural development.
"So far just a few of our countries have kept their promise. Our farmers need the support if the AfCFTA is to make the huge difference that we expect to make on the continent, "said Mr. Chikwene.
On his part, Khalid Ahmed, Head of Private Sector and Trade Finance at the Arab Bank for Economic Development in Africa (BADEA), said; "Smallholder farmers and SMEs are critical to the overall development of Africa and must be encouraged to grow. They contribute significantly to the economies of African nations and provide the basic needs of the people. "
He said access to funds was important for them, and financial institutions should be targeted at small farmers and SMEs on the continent.
Also on the panel were Ahmed Elmekass, Coordinator or AU-SAFGRAD and Sherine Sherin El-Sabag, an expert in trade development and also an industrial development advisor in Egypt's planning, monitoring and administrative reform ministry, who also supports the call for more resources allocated to the agriculture sector in Africa.
The IATF is a platform designed to help African businesses in the huge market that will be created by the AfCFTA.
Over 50,000 prominent dealmakers, businesses, industries, investors, countries and suppliers are attending the IATF, where up to $ 25 billion business deals, contracts and investment transactions are expected.
