The African Development Bank will on Tuesday, 30 April 2019, host an investment forum on its Special Agro-Industrial Processing Zones (SAPZ) initiative in Abuja, Nigeria. SAPZs are designed to concentrate agro-processing activities within areas of high agricultural potential in order to increase productivity and competitiveness.
The forum will update stakeholders on the progress of establishing SAPZs and to secure the commitment of key agribusiness companies and banks in the planning, investment and implementation of priority SAPZs in Nigeria.
The Bank, together with its development partners, is investing heavily in these projects in order to rapidly scale up agricultural production. The initiative will be the result of strong public and private sector partnerships.
Africa could become a net exporter of agricultural commodities, potentially replacing imports worth US$110 billion. The continent could also double its market share for select processed commodities. Africa’s agribusiness sector is predicted to reach US$1 trillion by 2030 and is being described the next “oil sector”.
Nigeria is in a position to provide leadership in Africa’s agribusiness sector, given its vast agricultural resources and its existing drive to transform its subsistence agriculture economy into a major global player.
The innovative Special Agro-Industrial Processing Zone initiative will provide millions of young rural men and women with unprecedented employment and entrepreneurship opportunities.
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• Kenyan President William Ruto signs strategic partnership with UK Prime Minister Keir Starmer to b...
• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...
• Morocco began expanding Casablanca Airport to raise capacity to 35M passengers by 2029• The $1.7B project supports the “Airports 2030” plan to...
• DRC extended its cobalt export ban to September 2025 due to high stock levels.• Major producers like CMOC face delivery issues; supply risks remain but...
• Eskom restored Medupi Unit 4 early, adding 800 MW and helping end load-shedding• Coal still dominates South Africa’s power, slowing the energy...
• Ethiopia completed the $4B Grand Renaissance Dam to boost power capacity and energy independence• Egypt and Sudan fear water supply risks, with no...
The Gerewol tradition is a fascinating ritual celebrated by the Bororo Fulani, a nomadic community primarily located in Chad and Niger. This annual...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...