Investment in Africa is spurring economic innovation and growth throughout the continent. There’s no question about that for the U.S. Secretary of Agriculture Ed Schafer. “Make no mistake about it,” Schafer said. “Investment in agriculture, investment in the structure of agriculture to move food to the market, is an investment in Africa’s future.” Schafer urged private sector investors to build …
Real Data, Real Solutions, Real Impact on Africa
The poorest of Africa spend 70 percent of their income on food. That’s the reality the Deputy Assistant Administrator for the U.S. Agency for International Development Africa Bureau put before the 300 attendees of the 2008 U.S. Africa Agribusiness Forum this week. That’s the reality that Franklin Moore wants the public and private sectors in the U.S. and Africa to …
Millennium Challenge Taking Up the African Challenge
The Millennium Challenge Corporation is an organization dedicated to reducing poverty worldwide. Ambassador John Danilovich, CEO of MCC, says a large part of the MCC mission lies in Africa. He says the MCC is partnered with 17 countries around the globe in an effort to reduce poverty through sustainable economic growth. Ten of those countries are in sub-Sahara Africa, drawing …
Nigeria to Declare State of Energy Emergency
The energy sector is, as Nigeria’s Honorable Peter Odebunmi puts it, “the bane of our non development.” Peter is a Representative of the Federal Repbulic of Nigeria. He says Nigeria lacks an adequate energy supply, which increases costs and makes domestic goods uncompetitive in the global market. That’s why, he says, President Umaru Musa Yar’Adua plans to declare a state …
A New Vision for Africa
Changing the African vision from one of short-term pay-offs to that of long-term success was one of the key issues for panelists at the “Education and Knowledge Building in Animal Agriculture” breakout session. The session was one of fifteen being offered at the 2008 U.S. Africa Agribusiness Forum. The workshop, sponsored by Novus International, featured a panel of experts that …
Nigeria an Emerging Market for Agriculture
There is money to be made in Nigeria. Dr. Isa Yugada, Executive Governor of the Bauchi State in Nigeria assured every potential investor of that at the 2008 U.S. Africa Agribusiness Forum. Isa highlighted Nigeria’s natural habitat for a diverse selection of crops including tomatoes, sorghum, maize, millet, rice, cassava, beans and more. He added that Nigeria possesses poultry, livestock, …
Providing Africa with a Platform of Exchange
Stock exchanges provide a platform. A platform that Chris Sturgess, assistant general manager of the Agricultural Products Division of the Johannesburg Stock Exchange, says helps with price discovery and price risk management. He says Africa needs such platforms. At the same time though, he stresses that stock exchanges do not set prices. Chris presented at the opening session of the …
West African Exchange Highlights Needs for a Developing Ag Industry
Mbaye Diop Sarr represents the West African business sector as the general administrator for the West Africa Commodity Exchange. For Mbaye, direct market access for producers is critical for the development of African agribusiness. He says Africa needs to drive competitiveness to fulfill industrial needs. He adds that Africa needs to embrace commercial partnerships among the various countries within the …
Facing Africa’s Problems in order to Develop Agribusiness Success
There are a lot of issues that need to be addressed in African agribusiness and Ian Goggin, CEO of the Agricultural Commodity Exchange for Africa, wasn’t afraid to highlight each and every one. Among the negatives in the African agribusiness sector Ian identified during the 2008 U.S. Africa Agribusiness Forum: Very little reliable data on trade flows Lack of competition …
Chicago Exchange Weighs In on U.S. and African Agribusiness
The CME Group claims to have ideas that change the world. And, that’s precisely what CME Group Vice Chairman Terrence Duffy says the 2008 U.S. Africa Agribusiness Forum is helping to facilitate: ideas that are changing the world. The CME Group is a combined exchange entity formed from the 1997 merger of the Chicago Board of Trade and the Chicago …