In Africa, agribusiness – more than any other economic sector – has the potential to reduce poverty and drive economic growth. The agricultural sector is a major source of food supply, income and livelihood for over 60% of the rural population in the African sub-region and is an important contributor to foreign exchange earnings.

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Agribusiness Development Activity Source: Flickr, MCG Fund Agribusiness Development Activity

Background

In Africa, agribusiness – more than any other economic sector – has the potential to reduce poverty and drive economic growth. The agricultural sector is a major source of food supply, income and livelihood for over 60% of the rural population in the African sub-region and is an important contributor to foreign exchange earnings. It remains the primary source of subsistence, employment and income for over 64% of the continent’s population. Agriculture is a significant contributor to National GDP in African countries, even in those countries whose economies are dominated by mining and manufacturing. On average, agriculture contributes 34% to national GDP and accounts for about 33% of the reported economic growth in African countries (UNDP 2012).

Agribusiness incubation has emerged as a critical tool that can be used to create competitive agribusinesses in Africa and to accelerate the development of the…

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