Analysis: Africa’s Agripreneurs Pay a High Price for Start Up Finance — Global Issues
Africa has pinned its hopes on agriculture for the creation of jobs and the resulting reduction of poverty. But its role is being stymied by the high cost of financing.
Limited investment, high interest rates and restricted support means African businesses are losing out to foreign competitors.
If we want to transform the continent’s food security and fortunes, then African Governments must help create an economic environment conducive to local investment by, for example, amortizing loan rates and driving billion dollar investments into the sector.
And all stakeholders—including government, donors, and the private sector— must work towards a more equitable and inclusive approach to build local investment for sustainable agricultural growth.
Photo courtesy of Ivko.