An interesting report by the Oxford poverty and human development inactive was recently released that found that there were ‘more poor’ in India than Africa. This doesn’t surprise me as much as it seems to have others, while India has made improvements it has never rated highly on the UN’s Human Development Index, India ranked 134th out of 182 countries in 2009.
What occurs to me, is the similarities between the areas of high poverty in India and Africa. Outside of the urban poor, the areas with high levels of poverty are predominantly regions with large deposits of natural resources and areas of with high levels of agricultural fertility, that still operate some form of feudal system.
The reasons for poverty are the same the world over and many of the solutions can be applied globally. Investing in agriculture will allow farmers to move away from subsistence to commercial viability. Resource companies are not ‘good’ job creators, so they must be pushed to downstream and help create the support industries that will provide employment in resource rich regions.
Poverty will only be tackled successfully where government works in partnership with the private sector. Government must provide a regulatory and tax environment that stimulates economic activity. While the private sector must take advantage of this and provide employment along the length of the value chain.
Showing posts with label agriculture. Show all posts
Showing posts with label agriculture. Show all posts
Friday, 16 July 2010
Tuesday, 23 February 2010
Africa Investment Forum
The Africa Investment Forum, which we held in Ghana for the first time, was the largest Investment Forum of its type CBC, has ever held. Over 700 delegates gathered from more than 30 countries for the Forum. One of the most impressive features of this year’s Forum was the wide scale involvement of Investment Promotion Agencies from across the Africa; over 220 projects were up for discussion.
3 Heads of State, 15 Ministers and over 50 Business leaders took part in the sessions; there were a couple of key themes I noticed coming out though out the Forum.
1) Every session, whatever the title on the programme eventually made mention of greater regional integration and the importance of enhancing Intra-Africa trade.
2) Secondly, one of the key impediments to growth and development highlighted at the forum was the need to do more to reduce the infrastructure gap in Africa; this was also flavoured by the talk of Greater regional cooperation – reductions in infrastructure barriers can happen faster if countries work for a more unified response.
3) The Importance of Agriculture for the coming decade, increasing rural incomes is essential to driving sustainable growth and development. The ever growing Global demand for food products is a perfect opportunity for Africa to taped its potential in this area.
The President of Togo, HE Faure Gnassingbe, requested that CBC take part in the promotion of Togo to International Investors. The request was made after the President addressed the opening ceremony and hosted a private Togo investor roundtable during the Forum.
The Africa Investment Forum 2010 was a great success and we look forward to carrying this though to the next AIF in Uganda, February 2010.
3 Heads of State, 15 Ministers and over 50 Business leaders took part in the sessions; there were a couple of key themes I noticed coming out though out the Forum.
1) Every session, whatever the title on the programme eventually made mention of greater regional integration and the importance of enhancing Intra-Africa trade.
2) Secondly, one of the key impediments to growth and development highlighted at the forum was the need to do more to reduce the infrastructure gap in Africa; this was also flavoured by the talk of Greater regional cooperation – reductions in infrastructure barriers can happen faster if countries work for a more unified response.
3) The Importance of Agriculture for the coming decade, increasing rural incomes is essential to driving sustainable growth and development. The ever growing Global demand for food products is a perfect opportunity for Africa to taped its potential in this area.
The President of Togo, HE Faure Gnassingbe, requested that CBC take part in the promotion of Togo to International Investors. The request was made after the President addressed the opening ceremony and hosted a private Togo investor roundtable during the Forum.
The Africa Investment Forum 2010 was a great success and we look forward to carrying this though to the next AIF in Uganda, February 2010.
Monday, 1 February 2010
Talks in Uganda
Last week I was in Uganda to follow up on talks I had with President Museveni, while he was at the Commonwealth Business Forum in Trinidad and Tobago last November. We discussed how CBC could increase it interaction with Uganda, over the coming year, to develop an investment promotion programme, particularly focused on the areas of agriculture and skills development.
At meetings with the Minister of Finance, Hon. Syda Bbumba, I discussed the practical functions of the programme and the implementation details, particularly how we would help generate the required investment to support the growth of both small and commercial farms. We also discussed a similar plan for skills promotion in the country.
Before leaving the country on Thursday, I met with the Uganda Investment Authority, where it was agreed that CBC would bring its prestigious Africa Investment Forum to Uganda in February 2011 and that work would continue on the development of a large scale ICT park outside Kampala.
At meetings with the Minister of Finance, Hon. Syda Bbumba, I discussed the practical functions of the programme and the implementation details, particularly how we would help generate the required investment to support the growth of both small and commercial farms. We also discussed a similar plan for skills promotion in the country.
Before leaving the country on Thursday, I met with the Uganda Investment Authority, where it was agreed that CBC would bring its prestigious Africa Investment Forum to Uganda in February 2011 and that work would continue on the development of a large scale ICT park outside Kampala.
Thursday, 20 August 2009
Ghana - Power, Agriculture and AIF 2010
While visiting Ghana for the first time in several years I was fortunate to have the opportunity to call on the President, HE John Atta Mills. It was good to continue our conversation started when CBC hosted him and his team for the Ghana Investment Forum back in May in London.
During my meetings with the President and several Ministers two main themes running through the government’s programme became apparent.
1)
Managing the proceeds of the newly discovered petroleum and gas reserves for growth and development. The President is inviting international investors to work with his government to develop the infrastructure that will make growth happen.
One of the Key restraints on Ghana’s growth and development is access to power. The county’s current capacity is around 2000 Megawatts, Ghana needs to produce around 5000 a year to match the demand. The Government is looking for investors and technology to help produce power from the country’s gas, petroleum and other sources including renewable, and in its delivery to the public.
2)
The second theme of government policy is on agriculture. The Government is determined to enhance production and encourage commercial farming practices, to take Ghana from a net importer of food to an exporter in the shortest time possible.
Ghana, having built on the solid base of democratic principles and an open economy, is fast becoming the model of a modern African economy. I am glad to see Ghana aiming high; to achieve its goal of becoming a middle income country by 2015 the country will have to achieve growth of between 8 and 10% a year and attract international investors to help bridge the infrastructure gap.
My advice to investors everywhere is to use Ghana as the window to Africa, and join us at our Africa Investment Forum in February next year as we hold it in Ghana for the first time.
During my meetings with the President and several Ministers two main themes running through the government’s programme became apparent.
1)
Managing the proceeds of the newly discovered petroleum and gas reserves for growth and development. The President is inviting international investors to work with his government to develop the infrastructure that will make growth happen.
One of the Key restraints on Ghana’s growth and development is access to power. The county’s current capacity is around 2000 Megawatts, Ghana needs to produce around 5000 a year to match the demand. The Government is looking for investors and technology to help produce power from the country’s gas, petroleum and other sources including renewable, and in its delivery to the public.
2)
The second theme of government policy is on agriculture. The Government is determined to enhance production and encourage commercial farming practices, to take Ghana from a net importer of food to an exporter in the shortest time possible.
Ghana, having built on the solid base of democratic principles and an open economy, is fast becoming the model of a modern African economy. I am glad to see Ghana aiming high; to achieve its goal of becoming a middle income country by 2015 the country will have to achieve growth of between 8 and 10% a year and attract international investors to help bridge the infrastructure gap.
My advice to investors everywhere is to use Ghana as the window to Africa, and join us at our Africa Investment Forum in February next year as we hold it in Ghana for the first time.
Tuesday, 11 August 2009
African agriculture solution to future food shortages
In recent comments from DEFRA about Food Security in the UK, it was suggested that global food production would have to double by 2050 to feed the growing global population. The Report went on to highlight the Role Genetically Modified crops are likely to play in increasing production as higher yield crops are needed to bring production up to the required level.
While GM will have a role play in the coming years, greater emphasis should be put on Africa as a potential global supplier.
The Current state of much of the agricultural production on the continent is still subsistence based, where families or small communities produce, in many cases, barely enough to live on, let alone a surplus to export.
Africa's potential to become the food basket of the world and supply a large percentage of the Global requirement is enormous, and CBC is working with private sector partners and governments to help increase investment into agriculture across the continent. An upturn in Production has the added benefits of increasing food security, reducing the threat of famine, creating jobs and wealth and driving up the general standard of living across Africa.
While GM will have a role play in the coming years, greater emphasis should be put on Africa as a potential global supplier.
The Current state of much of the agricultural production on the continent is still subsistence based, where families or small communities produce, in many cases, barely enough to live on, let alone a surplus to export.
Africa's potential to become the food basket of the world and supply a large percentage of the Global requirement is enormous, and CBC is working with private sector partners and governments to help increase investment into agriculture across the continent. An upturn in Production has the added benefits of increasing food security, reducing the threat of famine, creating jobs and wealth and driving up the general standard of living across Africa.
Friday, 19 June 2009
Grenada, the financial crisis and tourism
During this time of financial crisis smaller states need to work hard to find new ways of attracting foreign capital. CBC recently hosted a lunch for the PM of Grenada, Hon. Tillman Thomas; I was interested to hear how he plans to tackle this problem in his own county.
With the reduced numbers of people travelling for the traditional holiday, countries that rely on tourism for a large percentage of their income need to broaden there appeal and try to attract different visitors in addition to the traditional holiday maker. The Prime Minister described how his country was diversifying into, Eco Tourism and Health Tourism. He also talked of making the country self sufficient in terms of Agriculture – he wants the majority of what tourists consume to be produced locally, there should much fewer agricultural products imported for tourists.
I was also glad to hear the Prime Minister talk so passionately about a home grown chocolate bar that has now found a market in Europe.
With the reduced numbers of people travelling for the traditional holiday, countries that rely on tourism for a large percentage of their income need to broaden there appeal and try to attract different visitors in addition to the traditional holiday maker. The Prime Minister described how his country was diversifying into, Eco Tourism and Health Tourism. He also talked of making the country self sufficient in terms of Agriculture – he wants the majority of what tourists consume to be produced locally, there should much fewer agricultural products imported for tourists.
I was also glad to hear the Prime Minister talk so passionately about a home grown chocolate bar that has now found a market in Europe.
Monday, 20 April 2009
Agriculture and Insurance in Africa
I am pleased to see that most African countries are moving agriculture to the top of their agenda. Through my interactions with the Heads of Governments in recent months, I have recognised a renewed interest in making Africa the food basket of the world.
This is the right time to take action on agriculture, if governments, the private sector and NGO’s work together a real impact can be made on the lives of those who merely ‘subsist’ across the whole African continent.
The CBC is contributing to this effort, connecting businesses and governments to form the right partnerships for swift progress to be made. In a recent programme report co-authored by Swiss Re (a CBC member) we highlighted an element of agricultural development that’s importance is too often forgotten; insurance. The programme makes suggestions as to how PPPs can be used to enhance agricultural production, and investment in agriculture, buy reducing against volatility assuring more stable returns. To read the report please visit cbcglobal.org
This is the right time to take action on agriculture, if governments, the private sector and NGO’s work together a real impact can be made on the lives of those who merely ‘subsist’ across the whole African continent.
The CBC is contributing to this effort, connecting businesses and governments to form the right partnerships for swift progress to be made. In a recent programme report co-authored by Swiss Re (a CBC member) we highlighted an element of agricultural development that’s importance is too often forgotten; insurance. The programme makes suggestions as to how PPPs can be used to enhance agricultural production, and investment in agriculture, buy reducing against volatility assuring more stable returns. To read the report please visit cbcglobal.org
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