Investors have been urged to take advantage of Africa’s arable land to drive sustainable agriculture and increase food production.
This was amongst the conclusions of Business leaders and policymakers at the 4th edition of the EU-Africa business summit in Marrakech held to promote business and policy initiatives between both continents.
During the summit which is the fourth edition, experts noted that key private sector investment and policy implementation are what's needed to drive further growth. The acting Director of the Directorate of Industry, Mining and Entrepreneurship, African Union Commission Chiza Charles Chiumya said this is the time for partners from all over the world to come and invest in the continent. They have the freedom to establish under the AFCFTA in any of the preference, and wherever they are established we are saying that their market is a whole continent, he added.
The EU is Africa’s largest trade and investment partner. Its Foreign Direct Investment (FDI) stock in Africa in 2020 was at €222 billion, compared to €42 billion from the US and €38 from China
