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Imports $35 billion food and agricultural products every year
African continent has the potential to feed itselfThe African continent has the potential to feed itself and even have surplus food to export to other parts of the world. But instead, the continent imports $35 billion worth of food and agricultural products every year, and if the current predictions hold, the import bill will rise to $110 billion annually by 2025. So the question is: if the African continent has vast agricultural potential as we have been led to believe, why are we facing an astronomical food import bill?
I'm not the first or last person to ask this question. Indeed, a few days ago, the President of the African Development Bank (ADB), Akinwumi Adesina, made the following remarks while speaking at the Centre for Global Development in Washington DC: "Africa's annual food import bill of $35 billion, estimated to rise to $110 billion by 2025, weakens African economies, decimates its agriculture and exports jobs from the continent. Africa's annual food import bill of $35 billion is just about the same amount it needs to close its power deficit."
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Publication date: 4/28/2017
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