IGD’s agricultural development strategy, AgInvest, incorporates policy change and Frontier 100 to advance African agriculture through advocacy and investment. AgInvest will bring a business perspective to the Obama administration’s Feed the Future initiative and will promote deal facilitation through Frontier 100 in the agricultural sector.
As part of Frontier 100′s agriculture interest group, CEOs at the recent Forum in New York discussed the immense opportunities for increased private investment in African agriculture. CEO Papa Ndiaye likened the future of the agriculture sector to the recent boom in African telecom with significant ROI potential that could be unlocked by investments in infrastructure, energy, technology, processing and storage. The group discussed the need for regulatory change within African countries to catalyze growth in the sector and build up development corridors on the continent.
Frontier 100 CEOs met with USAID officials following the Forum to review the Obama administration’s plans for agricultural investments in Africa. The group discussed four countries in particular: Ethiopia, Ghana, Senegal and Tanzania. Specific opportunities were presented to leverage public funds from the United States with private investments. African CEOs emphasized the need for USAID to report on tangible products such as improved seeds or storage facilities, rather than dollars spent on meetings and consultants.
This week, IGD is hosting a follow up roundtable discussion on agricultural development between multinational corporations in Washington, D.C. This event marks the official launch of IGD’s partnership with TransFarm Africa and the Aspen Institute to provide a business platform for agricultural investment and policy engagement. IGD will also collaborate with other business-led efforts such as the World Economic Forum to enhance their New Vision for Agriculture.
