Continental forum to focus on agriculture

The Grow Africa Investment Forum that is slated for May 9, in Addis Ababa, Ethiopia will focus on attracting and promoting private investments in the agriculture sector on the continent.Officials from Rwanda Development Board (RDB) and the Ministry of Agriculture and Animal Resources (MINAGRI) will participate in the forum.The meeting is organised by the World Economic Forum (WEF) in collaboration with the African Union and the New Partnership for Africa’s Development (NEPAD).Clare Akamanzi, RDB’s Chief Operating Officer, told The New Times her institution continues to put in efforts to attract more local and foreign investments and that results have continued to manifest themselves through tangible investments.“The forum is yet another platform for Rwanda to engage and network with investors, specifically in agribusiness, and thus advance high value added products in order to improve the economy,” she said.Akamanzi said RDB expects that as a result of showcasing the country’s investment opportunities, there will be increased inflow of foreign investments, crafting joint ventures between local and foreign investors, increased exports and employment opportunities.The event is expected to engage up to 200 African and global leaders from the private sector and government, international organisations, development agencies, civil society, farmers’ organisations and academia to discuss investment opportunities.“We shall use the forum to mobilise private investments in some of the valued chains in agriculture which will increase our exports and as well boost the farmers’ incomes,” Ernest Ruzindaza, the Permanent Secretary in MINAGRI stated.He noted that the meeting was in line with the Comprehensive Africa Agriculture Development Programme (CAAPD), an agriculture development plan supported by the AU, NEPAD and COMESA in which Rwanda became the first African signatory member country in March 2007. Amid increasing food prices and vulnerability of most African states as far as food security is concerned, CAAPD was created by AU member states that are highly dependent on agriculture to help them achieve sustainable economic growth.RDB statistics indicate that last year the agriculture sector attracted investments worth $78 million.The Grow Africa Forum is a multi-country platform that has included seven countries as part of its ‘first wave’. They include Rwanda, Kenya, Tanzania, Ghana, Ethiopia, Mozambique and Burkina Faso.The first meeting of the forum was held in Dar es Salaam in November 2011, and included representatives from this first wave of countries, alongside private investors and major development partners.The focus of this meeting was to kick-start a country-led process to identify priorities and opportunities for private investment and agree on key next steps.

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Continental forum to focus on agriculture