Agriculture Powering Africa’s Economic Transformation

On Monday, October 23, 2017, Corporate Council on Africa held a working group with Dr. K.Y. Amoako, Founding President, African Center for Economic Transformation (ACET) and Dr. Yaw Ansu (ACET) focused on discussing ACET’s 2017 African Transformation Report. Other participants included U.S. and African government officials, nonprofit organizations and private sector stakeholders with interests in agribusiness on the African continent.Dr. Amoako began by giving a brief overview of the mission and vision of ACET and where the think tank fits into the landscape of all the institutions working on African development. He explained that ACET is a think & do tank that provides rigorous research and policy advice for African governments and other stakeholders by helping them translate analysis into actions to deliver economic transformation that improves lives.Dr. Ansu continued by giving a presentation focusing on key aspects of the report. He argued that agricultural transformation consist of two processes – modernizing farming by boosting productivity and strengthening the links between farms and other economic sectors, particularly manufacturing through agro-processing.He acknowledged challenges that need to be confronted, including access to land and security of tenure, weak value chains and an aging farming population but expressed hope considering opportunities such as expanding food markets for a growing African middle class, year-round sunshine for growing seasons and a youthful population that could be employed throughout the agricultural value chain. He was particularly keen on using technology and branding to enhance African commodities. Dr. Ansu underscored the need for African governments to enact business-friendly policies and regulatory processes. He also implored African governments to embark on a two track industrialization strategy- leveraging a growing young labor force with an abundance of land and agricultural assets, stating that the two strategies complement each other.