President of the African Development Bank President (AfDB), Akinwumi Adesina, has said that the continent’s agricultural business will worth $1 trillion by 2030.
He explained that this foresight is due to the fact that there would be a higher need to feed the expected continent’s increased population that is estimated to hit 2.5 billion by 2050, double its current 1.2 billion.
While speaking at an event in Abeokuta where he received a honorary doctorate award, Adesina said that the higher the population, the higher the need to increase food production.
“The size of food and agriculture in Africa will rise to $1 trillion by 2030. The population of Africa, now at 1.2 billion, will double to 2.5 billion by 2050. They all must eat. And only through food and agribusiness can this be achieved.
”What Africa does with food will determine the future of food, given that 65% of the arable land left to feed the world is here, Agriculture is the most important profession and business in the world,” he said.