Leading financial institutions and developers commit to joint action to accelerate special agro-industrial processing zones in Africa



Leading financial institutions and developers commit to joint action to accelerate special agro-industrial processing zones in Africa

The value of the agri-food sector is expected to reach $ 1 trillion by 2030

ABIDJAN, Ivory Coast, September 21, 2021 / APO Group / –

The African Development Bank’s ( Special Agro-Industrial Processing Zones (SAPZ) initiative can trigger fundamental change in Africa’s economic transformation, participants at the first meeting said on Monday. partnership for agro-industrialization.

The gathering brought together representatives of development finance institutions, private developers of special economic zones and other key global and regional actors in the African agrifood sector to share their ideas on how agro-industrialization can create opportunities. massive employment opportunities, boost agricultural productivity, generate wealth. and improve the quality of life for people across the continent. The participants agreed to work together in a cooperative framework for the implementation of SAPZ in Africa, under the leadership of the African Development Bank.

“The value of the agrifood sector is expected to reach $ 1 trillion by 2030 … Those of us working in the economic zones sector will work closely with the African Development Bank initiative on this huge opportunity.” said Ahmed Bennis, secretary general of Africa Economic Organization of zones.

Three Vice Presidents of the African Development Bank addressed the virtual meeting, detailing the Bank’s strategy to increase employment opportunities and income generation through SAPZ.

“The stakes are extremely high: during this week of the United Nations Summit on Food Systems, we, actors in Africa’s growth and development, must form a common vision on a roadmap towards agro -industrialization on the continent, ”said Dr Beth Dunford, the Bank’s Vice President for Agriculture, Human and Social Development.

“At the African Development Bank, we believe that turnkey projects, such as special agro-industrial processing zones, are essential for development. They bring the ecosystem together in regional value chains and key commodities, bringing together production, post-harvest, logistics and processing to feed growing African cities and export to the world in a sustainable, green and sustainable way. affordable, ”she added.

SAPZs are intended to focus on agrifood activities in areas with high agricultural potential. They allow farmers, agricultural producers, processors, aggregators and distributors to work together in one place, reducing transaction costs and sharing business development services to boost productivity and competitiveness.

Bank Vice President for Private Sector, Infrastructure and Industrialization at the Bank, Solomon Quaynor, said: “If we are to create jobs, we must enable the private sector to thrive. Overall, it is about industrializing Africa.

Dr Kevin Kariuki, Bank Vice President for Power, Energy, Climate and Green Growth, encouraged partners to work together on an implementation model for SAPZs, advocating for renewable energies to ensure optimal benefits.

Closing the session, Prof. Banji Oyelaran-Oyeyinka, Special Advisor on Industrialization to the President of the African Development Bank, said the experiences and commitment shared by participants were valuable ingredients for a cooperative framework that provide high-level leadership and inter-agency coordination. The framework would also ensure that each area attracts the right investment, is implemented to high standards, and avoids unpredictable risks such as political setbacks.

The main financiers and developers present at the session included: the African Import-Export Bank; Industrial development company; African finance company; Bank of Commerce and Development; OPEC Fund for International Development; Africa 50; West African Development Bank; Arab Bank for Economic Development in Africa; Islamic Development Bank and International Fund for Agricultural Development.

Short Link:


NNN: :is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor @

Recent Posts

LASBCA urges residents to report building infractions Oil magnate lauds TAJBank for expanding drive for non-interest banking Well-developed capital market’ll catalyse economic, infrastructure devt — Obaseki Anambra Guber: Police promise to be civil, firm during poll E-Naira’ll not affect commercial banks’ deposits – Adedipe Upstream Commission boss assures of increased investments in oil sector Cooking Gas: Experts task FG on massive investment, as consumers bemoan price hike Facebook changes company name to Meta OPEC, GECF express commitment to ensure stability of global energy market Medical Lab. Council inspects facilities in FCT, prosecutes offenders Coronavirus: Less than 10% of African countries will meet key COVID-19 vaccination target Guber poll: NSCDC deploys 20,000 personnel to Anambra CBN sensitises public on eNaira, other initiatives Strengthening the role of NOCs in Africa: Sonangol confirms its participation and diamond sponsorship in African Energy Week in Cape Town Nigerian govt spends N4.5bn to feed 228,646 pupils in Gombe – NSIP ASUU offers N100,000 scholarship to female ATBU student Leading forestry scientists call for freeze on new logging operations in Congo, urge governments to act Insecurity: PGF boss blasts Sheikh Gumi, says bandits must be declared terrorists Plateau Assembly crisis: Embattled Speaker holds sitting outside complex KAROTA sacks officer who caused traffic gridlock in Kano Troops deactivate 27 illegal refining sites in Niger Delta – DHQ As part of the launch of the second phase of the Aid for Trade Initiative for the Arab States (AfTIAS 2.0) program: US $ 15.5 million to support economic integration and job creation in Arab countries Buhari approves construction of N21.9bn 14-bed Presidential Clinic  Recruitment: Reps query medical research institute over alleged federal character violation Biden heads to Europe for G20, COP26 summits Insecurity: Nigerian Army inducts 60 new Armoured Personnel Carriers Aisha Buhari vows fight for women, girl-child education PenCom introduces non-interest fund pension contributors, retirees P&ID scam: Court issues arrest warrant against Irishman FIFA Museum announces ‘211’: a collaborative global exhibition on football heritage and culture Yahaya Bello presents N145.8bn 2022 Budget proposal to Kogi Assembly Toronto Raptors Vice President and President Masai Ujiri Joins Fremantle & Passenger Basketball Africa League Documentary Series as Executive Producer Libyan Oil and Gas Minister Mohamed Aoun to lead Libyan delegation to African Energy Week in Cape Town FC Barcelona appoint Barjuan caretaker coach West Africa bloc says Mali envoy’s expulsion ‘extreme’ Bank employee faces N2.1m theft charge in Lagos Oracle and Orange announce joint intention to strengthen digital infrastructure in West Africa Nigerian military confirms killing of ISWAP leader Mallam Bako, 37 others Nigerian military confirm killing ISWAP leader Mallam Bako, 37 others Nigerian troops kill ISWAP leader Bako, 37 others Drug abuse: 172 youths ‘went mad’ in Zamfara – NDLEA Network International annonce une croissance de 19% de son chiffre d’affaires au troisième trimestre Corrupt politicians using real estate to launder public funds – ICPC N22bn Earned Allowances: ASUU, NASU, SSANU at loggerheads over sharing formula Islamic State claims responsibility for Iraq’s Diyala province attack A path to greatness! Afolabi Oke, founder of Global Infoswift, featured in the November / December 2021 issue of Pleasures magazine Nigerian troops kills ISWAP leader Bako, 37 others Marriott International signs agreement with The Red Sea Development Company to integrate St. Regis Hotels & Resorts and EDITION into the Red Sea project in Saudi Arabia Kogi Assembly okays over N30bn supplementary budget for 2021 Covid caused record fall in migration in 2020: OECD