AfDB calls for investment in SAPZs

Akinwumi Adesina, President of the African Development Bank (AfDB), called for investment in Special Agro-Industrial Processing Zones (SAPZs) on Wednesday.

The statement was made during the Africa Investment Forum in Marrakech, Morocco.

“We must end the export of raw agricultural commodities,” Adesina said. “Africa must process its own cashew, cotton, coffee, tea, cocoa, cassava, fruits, and vegetables.”

He also said that Africa has a comparative advantage in agriculture, with 65 percent of the world’s uncultivated arable land.

“The size of Africa’s food and agriculture market will be worth $1 trillion by 2030,” Adesina said.

“So, think differently, and invest differently. The new millionaires and billionaires of Africa will not come from the oil and gas industry, they will be from food and agriculture.” he added.