This year’s African Agri Investment Indaba (AAII24) will spotlight small and medium-scale farmers and agribusiness start-ups with a new Seeds Startups event, focusing on business and investment opportunities.
The event will also host the Agri Investment Indaba Awards, celebrating excellence in food and agriculture. These initiatives, said Ben Leyka, CEO of the African Agri Council, are introduced as part of their commitment to fostering growth and innovation within Africa’s agricultural sector.
Taking place from Monday, 18 to Wednesday, 20 November 2024 at the Cape Town International Convention Centre, AAII24 will be themed “Achieving extraordinary growth.” It will bring together key stakeholders from across the agrifood and financial sectors to discuss strategies for accelerating growth and unlocking the continent’s vast agricultural potential.
2024 is shaping up to be a pivotal year for the global agrifood and financial communities. With 18 elections across the African continent, new regulations coming into force, and fresh climate finance targets being set, the stakes have never been higher.
Governments around the world continue to allocate between $600 to $800 billion annually in agricultural subsidies, highlighting the ongoing challenges of managing debt and the critical need for private capital mobilisation.
Despite Africa’s well-documented potential in the agrifood sector, the continent continues to face significant challenges in securing the necessary funding to support its agriculture industry and achieve food security.
A shrinking pool of available funds, more stringent due diligence requirements, and political and currency instability in various regions have made capital access increasingly difficult.
Last November, the African Agri Council board met in Cape Town, where the focus was on “impact.” The meeting, attended by notable figures such as Adidja Hassan, Ben Leyka, Gilles Mettetal, Frank Braeken, Mamati Tembe, Nhlanhla Nene, Susan Payne, and Tatiana Mata, highlighted the council’s efforts to mobilise private capital in Africa.
“Food security in Africa is a major global challenge,” noted Gilles Mettetal, the AAC chairman. “Africa has the capacity to supply food to the world, and supporting the private sector is crucial in achieving this.”
Nhlanhla Nene, former finance minister of South Africa, emphasised the need for Africa to fully leverage its agricultural potential.
“We need policies that enable our farmers to participate in feeding our nation and accessing outside markets,” Nene stated, stressing the importance of policy independence and technological advancements in driving agricultural development.
Frank Braeken highlighted the necessity of balanced partnerships and a long-term vision in agricultural policies. “
AAII24 to highlight public-private collaboratio
Governments must bridge the gap between the private sector and policy-making,” Braeken said, calling for a focus on learning from successful examples and fostering cooperation between governments and the private sector.
“We need to showcase success stories of collaboration between the private sector and governments,” he added, pointing to the “pockets of success” in various regions that demonstrate the potential of effective partnerships.
Amid these discussions, development finance institutions (DFIs) continue to play a crucial role in driving investment across Africa. DFIs will be a focal point at the AAII24’s DFI Forum in Cape Town, where they will share their strategies and experiences in fostering agricultural development.
As the largest agriculture investment conference in Africa, AAII24 will feature the DFI Forum, high-level discussions on achieving extraordinary growth, Investment Discovery Sessions, strategic closed sessions, and ample networking opportunities.
“This year’s Indaba is designed to bring together small and medium-sized farmers, agribusiness startups, industry leaders, development financial institutions, private equities, asset managers, commercial banks, lenders, policymakers, and solution providers across the value chain,” said Loudon Cito, commercial director at the Agri Council.
