News in Brief:
– The African Development Bank (AfDB) shows that agriculture is its priority by investing $25 billion over the past decade to boost food security and empower farmers.
– The bank highlights technology and Ethiopia’s success story in wheat production as key to transforming Africa into an agricultural giant.
African Development Bank (AfDB) has made agriculture a central focus and invested $25 billion in the sector over the past decade, according to a statement by its president, Akinwumi Adesina.
Adesina notes that boosting agricultural productivity is crucial for Africa’s economic development, particularly in rural areas where farming is the primary source of income. He highlights the need for a structural approach to address food security challenges, arguing that monetary policies alone are insufficient.
To achieve its vision for the sector, the development institution has established a program called Technologies for African Agricultural Transformation.
The programme is aimed at equipping millions of African farmers, primarily smallholders, with high-yielding technologies to increase crop yields and reduce production costs.
Adesina cites Ethiopia’s success story as an example. With AfDB’s support, the east African nation has adopted heat-tolerant wheat varieties suitable for its climate. This initiative, along with expanding planting area, enabled Ethiopia to achieve wheat self-sufficiency within three years and even become a net exporter.
Adesina’s reiterates that the focus is on harnessing Africa’s vast uncultivated land to transform the continent into a global agricultural powerhouse, driving economic growth and prosperity.
