Entrepreneurial opportunities are waiting along every link in the agri-food value chain, and a global call to overhaul food system to be nature-positive means many new opportunities are on the horizon.
The agri-food industry encompasses how we produce, process, transport, retail, consume and dispose of food. But that is perhaps an oversimplification when you imagine everyone and everything that is involved in putting a simple seed in the soil.
Who grew that seed? Where did you buy it? How did that seed reach your supplier? Did a genetic engineer alter it to use less water? Or is it a heritage seed from a local seedbank that can withstand local conditions? Are you using a machine for planting? How about fertilizer? Are you using an irrigation system? Do you generate your own power from wind, solar or biogas to power the pumps? Are you planting the seed in a greenhouse? Are you leasing the land? Are you using agricultural finance to pay for the seed?
It’s a lot to think about, right? Now, imagine everyone who is involved to get the resulting fruit or vegetable all the way from the farm to a fork in a restaurant in the city.
Yes, the agri-food industry in Africa is massive, and it is growing fast!
The Trillion Dollar Opportunity in Agri-Food
A World Bank research report says agri-food on the continent will be valued at a trillion dollars per year by 2030, making it the biggest opportunity in Africa.
While most industries were hard hit by the pandemic during 2020, the Agfunder 2021 report finds that global agri-food technology companies raised record investments exceeding US$30 billion. That’s a 34.5% increase from the previous year, meaning agribusiness is well on its way to that trillion-dollar target.
The entrepreneurs who are going to win big, are the ones who find innovative solutions to some of the dire problems facing Africa right now.
Food Systems Change Brings Fresh Opportunities
Research has shown that agriculture has been the single biggest contributor to environmental damage and climate change on the planet, and the debate about the complex impact of conflict, COVID-19, and climate change in Africa is fuelling action to change the way we produce food.
This year the UN Food Systems Summit is addressing how we can bring about major changes in global food systems. A shift away from the current status quo means there are big openings for future-minded entrepreneurs.
At the summit, leaders, communities, and agri-food stakeholders will debate how to:
- ensure access to safe and nutritious food for all,
- create a shift to sustainable consumption patterns,
- boost nature-positive production,
- advance equitable livelihoods, and
- build resilience to vulnerabilities, shocks and stress.
These same Food Systems Summit action tracks are a fantastic guideline for Africa’s young agripreneurs who are searching for profitable, new opportunities in the agri-food value chain.
Do you have a fresh idea that you can turn into an innovative business that will change the way we look at food?
Embrace the biggest opportunity in Africa! Bring your energy, courage and creativity to the GoGettaz Agripreneur Prize Competition and build your business.
The 2021 GoGettaz Agripreneur Prize Competition is launching soon, and we want to hear from you.
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