The World Bank this week announced that they will inject up to $300M in a new agriculture operation before the end of the year that will be critical in the recovery process and a majority of people in the country depend on agriculture for their livelihood. In the same week, the latest data from the National Agricultural Export Development Board (NAEB) indicate that the floriculture business is booming, citing increased international markets and this year’s valentine week as the major triggers. In the previous fiscal year, $7,908,025 (close to Rwf8bn) revenue was collected from a volume of 1,193,834 kgs of flowers exported. This, according to NAEB, represents an increase of 96.6 per cent in revenues collected and also 58.7 per cent exported volume. The sector’s growth is a boost to the country’s export industry as the government tries to find ways of reducing the trade deficit. The two developments are evidence of the potential of the agricultural sector to drive economic growth at a time the country is seeking to stimulate economic recovery. The agriculture sector is probably going to be among the biggest drivers of economic recovery largely due to its ability to have a trickle-down effect across the entire country. More importantly, the traditional approach to the agriculture sector probably ought to change to onboard and adopt modern agriculture practices and trends that are more profitable and contribute towards food security. Over the last few years, there has been progress with regard to increase in non-traditional agricultural exports, value addition, as well as new markets for the produce. For instance, it’s a positive trend that traditional agriculture exports are slowly being surpassed by exports of produce such as pepper and fruits. Going forward, the trend presents an opportunity to increase youth involvement and participation in the agriculture sector where they can introduce innovative solutions that can address challenges in the sector. This could help lower the average of farmers which was estimated at around 40 years.
