Almost 60% of the world’s uncultivated land that is arable too, is available in Africa. Therefore, if you own a farm in Africa, you are one of the few fortunate ones to have a share of the huge pie of agricultural land that is available in the continent. This poses immense business opportunities provided you know how to make best use of it. According to reports available, Africa had been geared up for green revolution almost five years ago and owning farmland makes it imperative to arrange for finances to start your business in agriculture. The prospects of agricultural business is further heightened by reports Africa is poised to be a major supplier of agricultural products to the world that faces ever increasing demand for it to feed the growing population.
Boosting agricultural output has always been challenging in Africa. There are several traditional obstacles on the way that you have to encounter and overcome. The first and foremost is that there are several negative perceptions about agriculture. Traditionally, the African people have experienced that farmers are highly deprived and the returns they get are just too little as compared to the intense labour that they put in. Added to this is the deficiency in the distribution system that has a poor infrastructure as well as many other trade barriers.
The picture is changing
However, there is no reason to be depressed by these facts. The silver lining is that governments are aware of the shortcomings and taking measures to overcome it. Farming and agriculture is set to be supported by mechanisations that would replace the age old use old basic and traditional equipments. This would give a boost to agricultural output. It is expected that with proper political support and financial investments, the agriculture sector in Africa is poised for growth. It would create more employment opportunities over and above the 60% workforce that gives labour in the fields.
The prospects of agriculture business in Africa are very bright. According to projections available, a spurt in growth is going to happen in manufacture and marketing of agricultural products. By the year 2030, the agriculture business in Africa is likely to touch $1trillion according to estimates of the World Bank. This in turn would boost the prospects for business in seeds, fertilizer and pesticides that are necessary to support agricultural manufacturing. Several financing companies are investing in agricultural production and it is time for you to make good use of the opportunities.
The Governments in Africa are banking on the agricultural business growth as it has huge capabilities of creating jobs. Every year about 17 million jobs are created in the rice sector alone. Besides being earmarked as the sector with largest employment capabilities there are other reasons why agriculture is in focus now. Increased productivity would lower food prices and help to raise the income of people.
It had never been so attractive to invest in the agricultural area in Africa. If you have a farm in Africa, make the right moves to arrange for finance and reap the benefits of growth.