U.S.-Africa Business Summit 2024: High-Level Dialogue: From Food Insecurity to Thriving Agribusiness

On Tuesday, May 7th, the Corporate Council on Africa hosted a pivotal session focused on addressing the vital link between small-scale farmers and industrial value addition in the agricultural sector. The session aimed to explore methodologies and strategies to effectively connect small farmers with opportunities for enhanced value addition, fostering sustainable agricultural development across the continent. The session commenced with an insightful dialogue among key stakeholders, including representatives from various African nations and distinguished members of the private sector. Gumel Farouk, representing Tropical General Investment (TGI), highlighted the importance of bridging the gap between government initiatives and local actors. He emphasized the necessity of collaborative efforts with the private sector to establish mutually beneficial commercial arrangements, underscoring the significance of sustainable, inclusive progress over the long term. The President of Liberia, in his address, emphasized the need for a strategic approach to agricultural development, stressing the importance of aligning investments with national priorities. He advocated for a cooperative model where small farmers work in partnership with larger entities to maximize agricultural output while ensuring local ownership and empowerment. Yusuf Tuggar, Minister of Foreign Affairs of Nigeria, echoed these sentiments, emphasizing the need for an enabling environment to attract foreign investment in the agricultural sector. He highlighted the success of collaborative ventures between Nigerian and foreign partners, emphasizing the importance of understanding local contexts and cultural nuances. Megret Sylvia, representing ACDI/VOCA, shared a compelling success story from northern Kenya, where innovative financing models were employed to support solar-powered solutions for agricultural development. She emphasized the importance of tailoring financing mechanisms to suit local contexts, enabling impactful solutions to emerge from within the communities they serve. Dr. Mima Nedelcovych, serving as the moderator, facilitated a dynamic exchange of ideas, encouraging participants to explore avenues for collaboration and innovation. The session concluded with a consensus on the need for continued dialogue and partnership to unlock the full potential of Africa’s agricultural sector. In the ongoing dialogue, participants delved deeper into challenges and opportunities, addressing issues such as access to finance, land ownership, and regulatory frameworks. The discussion underscored the importance of adopting a holistic approach to agricultural development, one that leverages the strengths of both local communities and international partners. In conclusion, the session provided a platform for stakeholders to share insights, best practices, and innovative solutions for connecting small farmers to the industrial value addition process in agriculture. By fostering collaboration and leveraging local knowledge, the summit laid the groundwork for sustainable agricultural transformation across the African continent.