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Wednesday, 16 May 2018

Africa: Transforming agriculture can stimulate economic development

A major study by the Africa Centre for Economic Transformation (ACET) has highlighted how transforming agriculture can become a stimulus for economic development across the continent. The report, the second of its kind from the centre, was launched at a high-level event on 13 May during the UN Economic Commission for Africa’s (ECA) annual Conference of Ministers in Addis Ababa (Ethiopia). Key findings were shared by the report’s authors with government officials, policy makers, analysts and business representatives. Their discussions reviewed how increasing agricultural productivity can contribute to wider economic development. Opportunities for improving agricultural value chains were identified as well as strategies to connect farming more closely to other areas of economic activity through downstream agro-processing and the upstream manufacturing of inputs or logistics. These opportunities were balanced alongside the need to achieve growth that was both equitable and sustainable.he event, co-organised with the ECA Regional Integration and Trade Division responsible for policy research on food security and agricultural co-operation across the continent, offered a compelling rationale for leveraging the sector to kick-start wider economic advances. Dr K. Y. Amoako, ACET’s President, placed the report in context by explaining: ‘Growth is not enough: transformation means growth with depth.’

Source: africa.com