The Vice President of the African Development Bank, Charles Boamah has urged African leaders to pay more attention to its agricultural value chain in order to maximise benefits of the sector to its economies.
According to him, the lapses in the value chain system had made the sector, which remains the backbone of many economies and big contributor to GDP, unattractive to investors.
Speaking on Tuesday at the Royal African Society event in London, which will herald the 6th Tokyo International Conference on African Development (TICAD VI), he mentioned that the business of agriculture on the African continent needs more investment.
“Frequently people think investing in agriculture is risky and it is risky because there are aspects of the value chain that has been badly developed and therefore makes the whole sector low; and so to the extent of investing in the entire value chain, we have to talk about improving yield.
Once you have the production, you have to do something, you don’t just want to produce to have a post harvest loss; including the entire infrastructure, storing etc to improve yield”, Mr. Boamah opined.
Also at the session was Professor Akihiko Tanaka of the University of Tokyo and former President of Japan International Cooperation Agency (JICA), who hinted that “African countries will become invaluable to Japan in the coming decades, as growing business partners with huge market potential”.
TICAD is a conference held every three years in Japan with the objective of promoting high-level policy dialogue between African leaders and development partners.
Japan has through TICAD maintained its long term commitment to promoting peace and stability in Africa through collaborative partnerships since TICAD’s establishment in 1993.
This time around TICAD VI has been scheduled for August 27 to August 28 August in Nairobi, Kenya from – the first ever TICAD summit to be held in Africa.
TICAD-VI plans to discuss some thematic issues that Africa has been facing since the last TICAD-V in Yokohama, Japan in 2013, which include industrialization, health, and social stability, among other things.
Ghana/Ultimatefmonline.com/106.9fm/ Patricia Ama Bonsu