World Economic Forum - Regions

World Economic Forum - Regions: "Africa: The World’s Potential Breadbasket?

• Kofi Annan • Paul Kagame • Harish Manwani
• Sylvia Mathews Burwell • Onajite Okoloko
Chaired by • Tumi Makgabo

Thursday 11 June

Despite a host of obstacles – such as a lack of irrigation, inadequate roads and limited access to capital and technology, sub-Saharan Africa has the potential not only to feed its own population but also to become a major food exporter, according to session participants. However, the region’s governments will have to do much more to make this potential a reality.

Session moderator Tumi Makgabo, Founder & Executive Producer, Tumi & Co., South Africa; Young Global Leader, noted that while African governments have committed to spend at least 10% of their general budgets on agricultural and rural developments, only six countries have met that goal. The average level of spending in the region, she added, is closer to 5-6%. Meanwhile, recent increases in global food prices have driven another 28 million Africans into poverty.

However, those dire statistics tell only one side of the story, contended Kofi Annan, Secretary-General, United Nations (1997-2006); Member of the Foundation Board of the World Economic Forum; Co-Chair of the World Economic Forum"