Promoting and investing in agri-sector's youth

Agriculture is a crucial sector in Africa, yet it faces the challenge of attracting the continent's youth due to decades of lack of support and outdated practices. Adesuwa Ifedi, Vice President, Africa, Heifer International, emphasized the importance of making farming more profitable and less arduous to entice young Africans to consider agriculture as a viable career option. In an interview with CNBC Africa, Ifedi discussed the need for integrating technology into the agricultural sector to drive innovation and unlock the vast potential of the industry. With Africa boasting the largest growing youth population and extensive arable land, there is a significant opportunity to transform the agricultural landscape and address food security challenges on the continent. One of the key challenges highlighted by Ifedi is the lack of investment in technology within the agricultural sector. While Africa has seen an increase in technology investments in areas like digital finance, agriculture remains largely overlooked as a high-risk investment. Without adequate funding for technological advancements in agriculture, the industry is unable to attract the necessary talent and resources to drive innovation and sustainable growth. Ifedi stressed the importance of bridging the gap between traditional investors and agricultural entrepreneurs through innovative financing models. Furthermore, Ifedi emphasized the role of philanthropic capital in supporting agricultural projects at various stages of development. From small-scale farmers to agribusinesses looking to scale their operations, access to patient and blended finance is essential for navigating the challenges inherent in the agricultural value chain. By providing grant funding that behaves like commercial capital, philanthropic investors can help entrepreneurs manage risks, integrate technology, and build the necessary infrastructure to drive innovation within the sector. Innovative grants play a crucial role in addressing systemic issues within the agricultural ecosystem. For example, Ifedi highlighted the scenario of introducing tractors to rural communities using digital technology. While the technology may enable efficient booking of tractors, there are additional challenges such as lack of trained drivers, mechanics, and repair facilities. By deploying innovative grants to support the development of this ecosystem, entrepreneurs can overcome these bottlenecks and make their ventures more attractive to commercial investors. Ultimately, the key to promoting and investing in Africa's agricultural sector lies in fostering a supportive environment that encourages innovation, technological integration, and sustainable growth. By leveraging patient capital, blended finance, and philanthropic investments, African nations can unlock the untapped potential of their agricultural industry and ensure food security for future generations. With the right strategies in place, the agricultural sector can become a thriving and attractive space for the continent's youth, driving economic development and prosperity.