AfDB president Akinwumi Adesina. PHOTO | FILE | AFP
The African Development Bank (AfDB) will
avail $1.1 billion to five African countries including Kenya to address
challenges arising from climate change.
The pan-African lender's president Akinwumi Adesina made the announcement Wednesday during the Feed Nigeria Summit in Lagos.
Dr
Adesina said the money would be used to address the current drought
challenges in Nigeria, South Sudan, Kenya, Ethiopia and Somalia.
He
also urged African countries to industrialise the agricultural sector
and its value chain in order to transform their economies.
Dr
Adesina urged governments to provide incentives to food and
agribusiness firms in rural areas through establishment of staple crop
processing zones.
“These staple processing zones will transform rural Africa into new zones of economic prosperity,” he said.
According
to the AfDB chief, staple crop processing zones, which were vast in
agro industries zones, would encourage food industries’ operators to
establish factories in rural areas.
“Africa has no business importing food. Africa should
be a net exporter of food...Agriculture in Africa must move away from
being treated as a social sector for managing pov
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