Agriculture and agri-business have been identified by as vehicle that offer the biggest transformational potential for Africa, with an even greater positive impact on ordinary people’s lives than the mobile phone boom.
At an investor forum organised by Africa investor, weekend, the world Bank Vice President for Africa Ms Obiageli Ezekwesili said “If you ask me what the next ‘big thing’ in Africa will be, I’d say without hesitation agriculture and agri-business,” The World Bank is bullish on Africa,” Ms Ezekwesili told participants at the summit, which took place alongside the Annual Meetings of the World Bank and International Monetary Fund.
Africa is “on the cusp of an economic transformation”, summit participants noted, suggesting that the continent is probably at the same point where India and China were 20 and 30 years ago respectively, just before their own economic take-off.
“We can now boldly say with confidence that Africa has awakened, Ms Ezekwesili said. Mobile phones which today serve 450 million Africans (i.e. more than the US, Canada and Mexico combined have proven the most liberating asset for the poor, who use it not only for communication but also as a social, economic, banking and even political tool. READ MORE
Image via TheLivingMurray