AfDB's Akinwumi Adesina explains partnership with India

The Africa Development Bank's 2017 annual meeting in Ahmedabad, India, has brought to light the importance of transforming agriculture for wealth creation in Africa. CNBC Africa's Bronwyn Nielsen sat down with Akinwumi Adesina, President of the African Development Bank (AfDB), to discuss the bank's collaboration with India and the key initiatives being implemented to drive agricultural transformation on the continent. Adesina emphasized the critical need for African governments to prioritize agriculture as a business to ensure food security and economic stability. Currently, Africa spends billions of dollars on imported food, a figure that is projected to increase significantly by 2025. Adesina highlighted the potential for agriculture to create jobs, generate foreign exchange earnings, and reduce imports, thus fostering economic growth and stability. Drawing lessons from India's green revolution, Adesina underscored the importance of political will, access to high-yielding technologies, and working at scale to improve agricultural productivity in Africa. He noted that the banking sector plays a vital role in financing agriculture, emphasizing the need for both public and private sector support to drive innovation and growth in the agricultural sector. One of the key focus areas of the AfDB's efforts is the engagement of Africa's youth in agriculture. Adesina highlighted the shift in perception towards agriculture among young people, who are increasingly viewing it as a viable and profitable business opportunity. Through initiatives like Enable Youth, the AfDB is investing in young agribusinesses across Africa to create a sustainable and vibrant agricultural sector for the future. Adesina's message to African youth is clear: agriculture is a lucrative industry with tremendous growth potential, and by investing in the sector, young entrepreneurs can not only secure their own futures but also contribute to the overall development and prosperity of the continent. By harnessing the entrepreneurial spirit and creativity of Africa's youth, Adesina believes that agriculture can be transformed into a dynamic and thriving sector that drives economic growth and empowers communities across the continent. The collaboration between the AfDB and India serves as a beacon of hope for the future of agriculture in Africa, showcasing the transformative power of strategic partnerships and innovative solutions in addressing the continent's pressing food security and economic challenges. As Africa continues on its journey towards agricultural prosperity, the commitment of leaders like Akinwumi Adesina and organizations like the AfDB will be instrumental in shaping a bright and sustainable future for the continent.