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Tanzania Hosts World Economic Forum on Africa

   Peter Clottey 04 May 2010

   The   President   of   the   United  Nations  International  Fund  for
   Agricultural  Development  (IFAD) is calling on African heads of state
   and  governments to invest in agriculture ahead of the three-day World
   Economic Forum on Africa, scheduled to begin in Tanzania Wednesday.

   Kanayo Nwanze said African governments are beginning to recognize that
   agriculture is the engine for economic growth.

   âBasically  in  the  last 30 years, agriculture in Africa has received
   what  I  will  describe  as  a  disinvestment,  similar to the way the
   international  community  disinvested  in  Africa. Because of the food
   crisis  in  2007,  2008 there is now a re-focusing on agriculture when
   some governments were investing, in some cases, less than four percent
   of their budgets into agriculture,â he said.

   Tanzaniaâs  President  Jakaya  Kikwete  is scheduled to host the World
   Economic  Forum  on  Africa  which will explore opportunities that can
   unlock the continentâs growth potential.

   Tanzania's President Jakaya Kikwete

   President  Kikwete  was  quoted  as  saying  "Africa  has been growing
   despite  the  economic  instability that is facing the world today. We
   will  have the opportunity to examine the strategy of Africa for today
   to ensure that there is a better tomorrow.â

   Eleven  heads  of  state and more than 1,000 participants from over 85
   countries  are  expected  to  attend  the  three-day conference dubbed
   âRethinking Africa's Growth Strategy".

   IFAD  President  Nwanze said the three-day meeting in Dar-es-Salaam is
   expected  to  provide  participants  with  a  platform on how they are
   facing  up  to  the  challenges  brought  about by the recent economic
   crisis,  and  how  they  are  using  the  crisis  as an opportunity to
   redesign a sustainable roadmap for Africaâs future.

   He said there is need for African leaders to invest in agriculture.

   âGovernments as well as the development community today recognize that
   agriculture  is the engine for economic growth and that we must invest
   in agriculture on a sustainable basis,â he said.

   The  forum  will  have  an interactive brainstorming session that will
   also  examine  the  barriers  to  social  and economic progress in the
   coming year.

   Nwanze  said previous policies embarked upon by some African countries
   shifted their focus from agriculture.

   âThey  disinvested  and they went into infrastructural development and
   in  some  cases,  they were ill-advised by institutions like the World
   Bank.  Weâve had Structural Adjustment Programs and 25 years later the
   consequences  are  what  we  experienced.  Having  said that they have
   competing demands on the budgetary requirements,â Nwanze said.

   He  also  said  IFAD is working closely with the African Union on land
   policies  across  the  continent  as well as extending rural financing
   facilities to poor farmers.

   The  World Economic Forum is an independent international organization
   committed  to  improving the state of the world by engaging leaders in
   partnerships to shape global, regional and industry agendas.

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