In this episode of Business Africa: agricultural transformation is underway in Africa and is attracting more and more investors; Nigeria is no longer the continent’s largest oil producer; develop and promote the cultural sector as an economic driver.
Le boom des start-up agrifoodtech
The ecosystem of agri-tech start-ups is flourishing in Africa and has been for the past two years. Although there are challenges, particularly in terms of accessibility, the agri-tech startup scene continues to attract investor interest. Fundraising for start-ups operating in the field ofagri-tech in Africa have settled at 482.3 million dollars in 2021, an increase of 250% compared to the previous year. Since 2017, the sector has raised more than $1 billion in investments. Francis Dossou Sognon, Managing Director of AgroSfer answered our questions.
Nigeria is no longer the king of African oil
According to the Nigerian Petroleum Regulatory Commission, the country’s production in August fell to 972,000 barrels per day, its lowest level in more than 30 years. Oil production has been steadily declining for months, with authorities blaming increased thefts of crude oil and sabotage at production sites.
Develop and promote cultural industries
Africa has an impressive pool of creators capable of supplying the main economic sectors of culture. To democratize art as an economic driver, support platforms do exist.
The program ACP-EU culture “Creating in Central Africa” has just launched a third and final call for proposals in support of cultural and creative industries (CCI) in the sub-region. On the same launch, in Ivory Coast, the investment company Birimian et Orange Bank Africa announced a partnership dedicated to financing Ivorian cultural operators.
