Cape Town, South Africa – 19 November, 2024 – As Sub-Saharan Africa faces its gravest food crisis in decades, the African Agri Council (AAC) is taking bold action with the start of the African Agri Investment Indaba in Cape Town today. With over 800 participants from 20+ countries, this year’s event is crucial for tackling the urgent food scarcity affecting millions across the continent.
Currently, over 16 million people in Malawi,aa Zambia, and Zimbabwe are confronting severe food insecurity due to inflation, droughts, and economic instability. Vulnerable populations, especially women, girls, and children, are disproportionately impacted, with access to nutritious food dwindling.
In Cape Town, nearly 250,000 households are experiencing hunger, the highest levels in South Africa’s major cities. A recent report from the University of Cape Town highlights alarming dietary deficiencies, revealing that many residents may not be acutely hungry, but their nutritional needs are unmet.
Ben Leyka, CEO of the AAC, emphasizes the necessity of private sector involvement in finding solutions. “The Indaba is a vital platform for innovators and stakeholders to unite, share insights, and develop actionable solutions,” he states.
Changwe Kumalinga, CFO of Good Nature Agro Zambia and Programme Chair at the Indaba, adds, “This event brings together the brightest minds in agri-tech to tackle urgent challenges. It’s alarming that less than 2% of agri-investments are directed towards agri-tech, highlighting the need for increased focus in this critical sector.”
As agricultural investments attract interest from institutional and family investors, the AAC aims to reframe food security discussions, presenting agriculture as a viable investment opportunity. By addressing social issues while unlocking economic potential, the AAC demonstrates that investing in agriculture can yield significant returns, transforming perceptions and fostering a brighter future for the sector.
The Indaba features dynamic discussions, networking opportunities, and investment discovery sessions to promote collaboration within the agri-tech sector. Keynote panels will showcase industry leaders exploring innovative practices that can reshape Africa’s food future.
The event will culminate on 20 November 2024 with an inaugural awards ceremony, recognizing outstanding contributions in categories such as Woman of the Year, Deal of the Year, Rising Star, and Innovation in Food and Agri.
As the AAC gathers leaders and innovators at this critical juncture, the message is clear: we must confront food scarcity as a pressing challenge impacting communities everywhere, including Cape Town. The time for action is now, and the AAC is committed to driving the change needed to achieve zero hunger by 2030.
About the African Agri Investment Indaba (AAII)
The 7th African Agri Investment Indaba (AAII) is the global meeting place for agrifood investment in Africa. Bringing together over 800 key stakeholders – from governments, banks, financiers, investors, project owners, project developers, commercial farmers and the agro and food processing industry – to discuss trends that will likely influence food and agribusiness economics over the next decade in Africa. The Agri Indaba delivers a unique mix of decision makers from across the food and agriculture value chain making it the most effective place to conduct business in the sector.