The continent is well endowed with natural resources necessary for a resource-based industrialisation. The continent is sitting on more than US$82 trillion in discovered natural resources, with the potential to contribute US$30 billion a year in government revenue over the next 20 years.
Africa also possesses other natural resources – minerals, rivers, forests, fisheries, etc., in vast quantities worth a significant amount. The value add of its fisheries and aquaculture alone is estimated to be more than US$24 billion. However, many countries continue to export raw materials with little value addition. For example, Africa exports 69% of the world’s raw cocoa beans but only 16% of ground cocoa, which is typically worth 2–3 times more per ton than raw cocoa.
Transforming the agriculture sector in Africa towards agro-allied industrialisation could open markets worth more than US$100 billion a year by 2025. Agribusiness can thus be the engine of Africa’s structural transformation while creating decent non-agricultural jobs, increasing income, feeding Africa, and alleviating poverty.
The conference will be hosted over 2 days and will include a Networking Cocktail Reception.