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Why should Africa be fed by foreigners? financing is key to reverse this trend!

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  • Birungi Korutaro

    (Kilimo Trust)

Abstract

Africa’s food security situation is further compounded by the Russian-Ukraine war which has increased energy prices, triggered food inflation, tightened financial conditions, and continues to cause global uncertainty. Africa is now the most food-import-dependent region in the world, dedicating more than 13% of its import expenditure to buying food and agricultural commodities. For instance, about 30% of Kenya’s imported wheat comes from Russia and Ukraine, and in 2021, 44% of Cameroon’s fertilizer imports came from Russia. In Kenya, the supply disruption and the increase in wheat prices affected the production and price of bread, which is the third most consumed food item in the country. Moreover, Africa’s population continues to grow. It is estimated that by 2050 Africa’s population is expected to be greater than the Chinese and Indian populations combined. Feeding this population is undoubtedly one of the greatest challenges for the continent.

Suggested Citation

  • Birungi Korutaro, 2023. "Why should Africa be fed by foreigners? financing is key to reverse this trend!," Development Finance Agenda, Chartered Institute of Development Finance, vol. 8(4), pages 14-15.
    • Handle: RePEc:afj:journ4:v:8:y:2023:i:4:p:14-15
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    File URL: https://journals.co.za/doi/abs/10.10520/ejc-defa_v8_n4_a6
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