According to a report by the African Development Bank (AfDB), Africa's food and agriculture market is projected to reach USD 1 trillion by 2030, up from USD 280 billion in 2015. The report highlights agribusiness as a key sector for job creation across Eastern and Southern Africa.
The AfDB's 'Feed Africa' strategy aims to transform agriculture into a competitive sector, with the potential to create millions of jobs, especially for youth and women. The bank has committed to investing USD 24 billion in agriculture over a decade.
Experts note that the growth is driven by increasing urbanization, a rising middle class, and changing dietary preferences. However, challenges such as climate change, inadequate infrastructure, and limited access to finance remain significant hurdles.
The report emphasizes the need for policy reforms, private sector investment, and regional integration to unlock the full potential of Africa's food market.
