The Africa Development Bank Group, AfDB, has initiated a partnership with the Korean government on using technology for food production in Africa.
Mr. Malabo , Equitorial Guinea, AfDB’s Special Advisor to the president on Industrialization, Prof. Oyebanji Oyelaran Oyeyinka said the ‘The feed Africa’ scheme is to transform Africa’s agriculture into a competitive and inclusive agribusiness sector that creates wealth.
AfDB Representative for Egypt, Plalinne Blomberg, said, “it is a special time we are having now because we have the new Africa continental trade agreement. what this does is to open new market of more than 3 trillion dollars for African and International investors.”
According to AfDB records, the global portal agro business is about 8 trillion dollars, an amount bigger than the information technology sector, even the automobile industry.
The Korean government says it has been involved in helping Africa in the area of agriculture since 2009.
According to the Bank, the initiative aims to contribute to the end of extreme poverty in the continent, eliminate hunger and malnutrition, among other things.