AFRICA should create a good environment for investors to foster public private partnerships for advanced sustainable economic growth on the continent.
This was said at the three-day second African Union private sector and agribusiness forum that was here recently.
The forum ran under the theme ‘transforming Africa’s agriculture for shared prosperity and improved livelihoods: harnessing opportunities for inclusive growth and sustainable development’.
In her keynote address, Commissioner for Rural Economy and Agriculture for African Union Commission Rhoda Tumusiime noted that there is an increase in the number of private sector firms that seek to partner with African governments in fostering change in the agriculture sector.
Ms Tumusiime said there is need to scale up and replicate these efforts in a sustainable and all-inclusive manner.
She said “as the AUC we will continue to pursue mutually beneficial long-term relationships that we see building between the private sector and our governments that will be based on mutual understanding of incentives, roles and expectations of the public and private sectors.”
Ms Tumusiime also earlier noted that member states should take agriculture as a business that has to be financed.
She said unless the sector is funded to play its role, it will not be able to contribute the much-needed rewards and other multiplier effects on improved food, nutrition, jobs, wealth and social welfare.
Meanwhile, Rwandan Minister of Agriculture and Animal Resources Geraldine Mukeshimana said agribusiness remains important in that it contributes to poverty reduction.
Ms Mukeshimana said agribusiness contributes three percent to Africa’s gross domestic product.
She said African governments should take advantage of the increasing population as this will increase demand for food.
“Unfortunately we are seeing a situation where there is reduced investment in agriculture worldwide which has resulted in food shortage and poverty,” Ms Mukeshimana said.
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