The Turkish agricultural sector is turning its focus toward Africa. Current data estimates there are 650 million people with enough purchasing power in Africa. Below are the 5 countries which stand out in agricultural investments in the country:
KENYA
Kenya is one of the most stable countries in the continent. Turkish companies sell construction materials and textiles to Kenya. Annually 2,000 Turkish businessmen visit Nairobi, capital of Kenya. Last year trade between the two countries was above 800 million USD. Tomato paste, olive oil and margarine are other most traded goods between the two countries.
CAMEROON
The trade between Cameroon and Turkey is increasing exponentially. The exports to the country have increased by 45% in the first quarter of 2018. The main investment areas are margarine, biscuits, canned goods, flour and tomato paste
SUDAN
Sudan is the country with the biggest surface area on the continent and agriculture is the main driver of the economy. Main investment areas are canned goods, modern agriculture equipment, pasta and bottled water.
IVORY COAST
The country produces 90,000 barrels of petrol daily and Turkey’s exports to the country are increasing dramatically. The main investment areas are hazelnut, tomato paste, canned goods and bottled water
GHANA
Ghana received around 700 million USD of foreign direct investments in agriculture. The trade volume between Ghana and Turkey has increased by 150 % in the last 5 years and has risen over 250 million USD. The main investment areas are biscuits, wheat and vegetable oils.
Source: Sabah