APA- The first edition of the Agrichain Investment Forum in Africa has been underway at the Mohammed VI Polytechnic University (UM6P) in Ben Guerir on Tuesday.
Under the auspices of INNOVX and OCP Africa, the forum is part of their so-called Voice of Africa scheme.
This forum is set to become a major event for African agriculture as it aims to catalyze investment in agricultural value chains through increased collaboration among stakeholders, including project developers and investors.
The Agrichain Investment in Africa forum brought together key sector stakeholders, including entrepreneurs, startups, investors, banks, development agencies, and public representatives, creating a networking environment conducive for the emergence of collaborative projects and their imminent implementation in an integrated approach framework.
The forum’s agenda yielded a dynamic that will provide a boost for operational solutions to financing and investing challenges in agricultural value chains (AVC), it will also contribute to addressing the complexities of strategic issues related to food sovereignty, sustainability, and technological and financial innovation
The Agrichain Investment in Africa Forum is being held against the backdrop of a critical challenge in Africa, where less than 3 percent of economic financing is allocated to agriculture, a vital sector for the continent, said a statement from to APA from its organisers.
Financing hurdles in Africa
The complex paradox underlying the sector’s situation lies at the heart of the priorities of the Agrichain Investment in Africa Forum, it said adding that despite the continent’s extraordinary agricultural potential and the predominance of this sector in African economies, financing falls short of the sector’s needs while these amount to $240 billion annually, only 25 percent of overall needs, i.e. $60 billion are met.
“With the Agrihain Investment in Africa forum, we aim to make a tangible contribution to accelerating investment in the agricultural sector in Africa. This forum primarily serves project developers, providing them with a platform to connect with investors and financing catalysts, along with technological innovation, to maximize the success prospects of their projects,” explained Mr. Youssef Elbari, INNOVX’s CEO.
“We are thrilled to join forces with INNOVX for this paramount event, gathering influential personalities from the comprehensive agricultural value chain to tackle the challenges and opportunities linked to investment in Africa’s agricultural realm. We are confident that this inaugural forum will set the stage for a distinguished annual gathering, assembling industry trailblazers to drive forward-thinking investments that foster the sustainable evolution of agriculture throughout the continent,” stated Mr. Anouar Jamali, CEO of OCP AFRICA.
The inaugural edition of Agrichain Investment in Africa will be followed by itinerant meetings all over Africa and subsequent annual editions to sustain the collaboration and networking momentum and actively track the progress of collaborative projects all the while.
INNOVX is a multidisciplinary and multisectoral group committed to addressing global sustainability challenges and contributing to Morocco’s technological leadership.
As a subsidiary of the Mohammed VI Polytechnic University (UM6P), it combines the roles of investor, technological incubator, and business developer to conceive, develop, and industrially deploy innovative, high-performance technological enterprises and ecosystems with a significant environmental and social impact.
The INNOVX group operates in strategic sectors crucial for food sovereignty, energy and digital transition, including Agriculture, Social Innovation, Energy, Chemistry, and Digital.
OCP Africa, a subsidiary of the OCP Group, is on a mission to contribute to the development of integrated agricultural ecosystems in Africa. OCP Africa works closely with farmers to help unlock the agricultural potential of the African continent through solutions tailored to local conditions and soil and crop needs.
In partnership with a network of partners, including governments, non-profit organisations, and businesses, OCP Africa strives to provide farmers with all the necessary conditions for the development of their activities. OCP Africa operates in many African countries (Côte d’Ivoire, Senegal, Cameroon, Kenya, Ghana, Nigeria, Zambia, Benin, Tanzania, Ethiopia, Burkina Faso, Rwanda).
It also contributes to securing the production of accessible fertilisers near major agricultural basins, strengthening its logistical capabilities, and developing new local distribution networks.
PR/as/APA