Africa represents 12 percent of the world’s population, but only accounts for one percent of global gross domestic product (GDP) and 2 percent of world trade. The continent is faced with four key challenges: a global food crisis, profound climate change, soaring energy prices and persistent poverty. High food prices, caused by a high population growth, low agricultural productivity, limited access to technology and high transportation costs all contribute to Africa’s economic picture.
In the coming years however, the transformation of subsistence agriculture in Africa holds tremendous promise for catalyzing economic growth and creating employment opportunities for the world’s large youth population.
The need for agribusiness development in Africa is undeniable, especially for its largely young and rural population.
By Alemayehu Konde Koira
