The Potential of Agribusiness; Unlocking the opportunity for the African Youth

It became apparent to me at a very young age that farming and agriculture by extension was disdained. It so happened that in one of my kindergarten classes, the teacher asked us to name our parents’ occupations. As was the norm with such questions, all students were enthusiastic to answer. The exception this time was Timothy*(not his real name) who seemed dejected and somewhat unenthusiastic to answer. On realizing this, the teacher went ahead to ask him to answer. With great hesitation, his head bowed down and almost in shame, he admitted that his parents were farmers and in no time his response was greeted with giggling and even bursts of laughter.

I don’t blame my former classmates though. Farming has been for the longest time been personified as a high-risk, low paying and incredibly difficult job. Some even see it a direct ticket to poverty; a solitary struggle to survive. It is no wonder young students would mischievously laugh at their peer whose parents are farmers.

But the narrative is changing. Farming is no longer a solitary struggle to survive but a business that thrives. There are massive opportunities that exist in agribusiness. As Zimbabwean tycoon Strive Masiyiwa so ably put it, were he to start all over again, he would bet on agriculture. And that begs the question; what does he see that most of us don’t?

Consider this, 65% of the world’s total arable land is in Africa and this means that this beautiful continent will be relied upon to be the breadbasket of the world. The global population is rising speedily and will almost assuredly surpass 9 billion by the year 2050. That rising population is going to create a huge demand for food and in turn spawn a huge insatiable market for the produce. In fact, Africa’s food markets could create a one trillion dollar opportunity by 2030. Coming home, Africa is a net importer of agricultural produce to a tune of 35 Billion US Dollars every year. According to the Agricultural Status Report (AASR), that amount is expected to rise to 110 Billion US Dollars by 2025. If Africa rose up to the challenge to break the food import chain and aim for self-sufficiency in food production, we would certainly stop exporting the thousands of jobs that this lucrative opportunity offers. Looking at the evidence of the opportunities above, it is no wonder technology magnate Strive Masiyiwa endorses agribusiness as the next frontier.

I don’t see why the youth shouldn’t be the drivers of this change. The smallholder farmer is growing older and is averagely 55 years old. In contrast, the African youth population is burgeoning. As a matter of fact, there are currently 200 million people in the region between the ages of 15 and 24, and this number is expected to double within the next 30 years. A thriving food and agriculture sector, while by no means a silver bullet, has the potential to address food and nutrition security as well as offer a source of employment to the scores of young people in this millennial generation.

I concur with the President of the African Development Bank Akinwumi Adesina that the next crop of African Billionaires will farmers. At that point, the droves of the young people will be returning to search for opportunities in the rural homes instead of chasing a mirage in the cities that cannot support the large influx of rural workers. They will stick in their countries as opposed to braving the overloaded boats with human cargo moving through the treacherous waters of the Mediterranean Sea in search of a better life in Europe. Agribusiness will be a career that young people aspire to, rather than avoid.

I truly believe that ‘Ukulima sio Ushamba’ which loosely translates to ‘Farming is cool’.