Mo Ibrahim delivered the 2016 International Fund for Agricultural Development (IFAD) Lecture in Rome as part of at the organisation’s two-day annual conference.
Some key points he raised:
- African Governments need to increase focus on agriculture. In 2013, we spent, on average, less than 5% of our budget on agriculture which involved more than half of our population, while the EU allocated about 40% of its budget on the sector which involved only 3.5% of its population.
- Unlike mineral and oil, the demand for food is resilient and will continue to grow as the global population and wealth continues to grow.
- We need to develop a successful commercial model for our agriculture industry which is modern, efficient and yet people centred. We need to move to subsistence, commercial farming.
- Successful countries have high agriculture output
- Secured land tenure and adequate financial resources are key to unlock Africa’s agriculture potential.
- Next to profit, smart businesses should focus on people and the planet
The conference brought together international personalities, business leaders and heads of state to discuss investments in rural areas of developing countries as the cornerstone to achieving the Global Goals.
Ahead of the Lecture, Mo conducted an interview with the team at IFAD. See the interview at the link below.
