Fertilizer consumption on the African continent to reach 13.6 million tonnes by 2030 compared to 7.6 million tonnes currently.
Food demand value ~$313 billion and growing.
Average maize yield is roughly 3x lower than the yield potential for short-maturity maize.
International companies have recognized the incredible growth and population trajectory of Africa.
Nigeria – Indorama has built a US$1.5 billion fertilizer plant.
Ethiopia – OCP – has built a US$2.4 billion fertilizer plant in Ethiopia.
Kenya/Tanzania – Toyota Tsusho commissioned a new large-scale fertilizer blending plant.
Based on the country’s natural endowments, agriculture is well positioned to transform the country, promote economic diversification and boost exports and generate foreign exchange. The African Development Bank intends to play a catalytic role by providing lines of credit as well as leveraging PPP transactions to ease access to finance for private sector and SMEs, to transform agriculture as a business, reduce local food prices, enhance food security and improve the country’s economic competitiveness. By supporting the agro poles development and the agro industries, the Bank will contribute to achieve one of the High 5s target of Industrialise Africa. – African Development Bank (statement on Angola)
Investments in agro poles and agro industries through provision of lines of credit to private sector can help boost local food production and exports. – African Development Bank