Africa, which holds 60% of the world’s uncultivated arable land and has access to plenty of water resources, has the potential to not only feed its own population, but also to contribute to global food security. Bikash Prasad, CFO for southern and eastern Africa at Olam International However, despite the potential the continent has for agriculture , Africa remains a net food importer. With the African population expected to double to 2bn by 2050 and the urban population growing rapidly, it is becoming more and more vital for Africa to increase its agricultural production and feed itself.
But why is Africa a net food importer?
Bikash Prasad, CFO for southern and eastern Africa at Olam International, told an audience at the Africa Trade Finance Week in Cape Town last week that a major reason sub-Saharan Africa has to rely on food imports is because the region has the lowest actual crop yield (as a percentage of potential yield) in the world.
He highlighted that sub-Saharan Africa’s actual crop yield is estimated at 25% of potential yield, compared to East Asia which has an actual crop yield at almost 90% of potential yield. Prasad estimates that if Africa could double its actual […]