Bloomberg News

Africa Farmers Can Triple Output to $1 Trillion, World Bank Says

March 04, 2013

Africa’s farmers, who have access to half the world’s uncultivated land, could boost production three-fold to $1 trillion by 2030 if the governments provide better access to power, water and capital, the World Bank said.

Agricultural output could increase from $313 billion, the Washington-based institution said in an e-mailed statement today. Farmers are responsible for half of the continent’s economic activity, it said.

“We cannot overstate the importance of agriculture to Africa’s determination to maintain and boost its high growth rates, create more jobs, significantly reduce poverty, and grow enough cheap, nutritious food to feed its families,” Makhtar Diop, the World Bank’s vice president for Africa, said.

Growth in sub-Saharan Africa, excluding South Africa, is estimated at 6.1 percent this year and 6 percent in 2014, according to World Bank data. High commodity prices and exports have supported expansion in the region, it said

To contact the reporter on this story: Jaco Visser in Johannesburg at avisser3@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net


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