#AGRF2020: Gilbert Hougbo on smart agriculture & how to bridge the finance gap in Africa

Africa's agriculture sector has long been seen as resilient, but the continent still faces a significant challenge with a $35 billion import bill. Could smart agriculture be the key to moving away from a largely subsistence approach to farming? In a recent interview with CNBC Africa, Gilbert Houngbo, President of the International Fund for Agriculture Development and former Prime Minister of Togo, shed light on the role of smart agriculture in transforming the agricultural landscape of Africa. Houngbo highlighted the need to focus on small-scale producers, who account for a significant portion of food production in the region but have often been overlooked in discussions about modernizing agriculture. Smart agriculture, he argued, must be inclusive and reach all levels of the agricultural value chain, from production to market access. Houngbo emphasized the importance of policy support and financing in enabling the transition to smart agriculture and ensuring sustainable food production for Africa's growing population. With urbanization on the rise and changing consumer preferences, the agricultural sector in Africa faces both challenges and opportunities. By leveraging technological innovations and sustainable practices, African countries can strengthen their agricultural sector, create jobs, and reduce dependency on imported goods. However, financing remains a crucial aspect that needs to be addressed to realize the full potential of smart agriculture in Africa.