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SAGCOT played a pivotal role in the 2015 Grow Africa Investment Forum in Cape Town, contributing to the advancement of public-private initiatives in eight African countries, including Tanzania.
As a key stakeholder, SAGCOT utilized the forum as a platform to discuss progress, tackle challenges, and explore opportunities for partnership and collaboration. This participation was integral to Tanzania’s active involvement as one of the 12 member countries in the Grow Africa initiative. The event highlighted the significance of collaborative efforts in enhancing agricultural development and food security in the region.
The New Alliance for Food Security and Nutrition, in collaboration with Grow Africa, has witnessed substantial engagement and investment in Tanzania and other African nations. Launched in 2012, this initiative aims to lift 50 million people out of poverty by 2022 through partnerships involving G7 members, African nations, and the private sector. The overarching goals include increasing food production, accelerating responsible investment in African agriculture, and promoting good governance alongside coordinated policy reforms.
Tanzania, under this alliance, has made significant strides, with 35 Letters of Intent (LOIs) signed by 17 domestic companies and 18 international companies. These LOIs signify a planned investment of approximately $846,127,524. In 2014 alone, $13,888,700 was reported as invested, bringing the cumulative total to $31,147,533 to date. The program has made a considerable impact on smallholder farmers, reaching 749,298 in 2014 and creating 2,209 jobs in the same year. Additionally, there were donor disbursements of $336.84 million in 2014, accounting for 46% of the expected amount.
The New Alliance represents a shared commitment to achieve sustained and inclusive agricultural growth, aiming to uplift 50 million people out of poverty over the next decade. This involves aligning Africa’s leadership commitments, private sector intentions, and G-8 member commitments to drive effective country-led plans and policies for food security and nutrition. The program underscores the importance of private sector investment in agriculture, connecting smallholder farmers to broader markets, and creating incentives for innovation to enhance productivity. This approach is expected to improve access to food and employment opportunities, ultimately raising smallholder farmer incomes.
However, the New Alliance has faced criticism for certain deficiencies, such as the lack of emphasis on transitioning to sustainable modes of agricultural production, support for farmers’ seed systems, regulation of contract farming, and recognition of women’s rights and gender empowerment.
In 2015, the Grow Africa Investment Forum in Cape Town brought together stakeholders driving public-private initiatives in eight African countries. SAGCOT engaged with the regional leadership of over 20 existing and potential partners to discuss progress, address bottlenecks, and explore opportunities for partnership and further collaboration. Tanzania, as one of the 12 member countries, actively participated in this forum through the facilitation of SAGCOT.
The 2015 Grow Africa Investment Forum, a significant event for African agriculture, took place in Cape Town, South Africa, from June 2 to 4. Hosted by the Grow Africa Partnership, this consortium includes over 200 companies and governments across 12 countries, all dedicated to fostering investment in African agriculture.
Key to the forum’s agenda was bridging Africa’s agricultural investment gap. It convened investors, government representatives, and leaders in agribusiness to explore and discuss various investment prospects within the sector.
Marking a remarkable achievement, the forum witnessed the announcement of investment deals exceeding $1 billion. Additionally, it played a crucial role in enhancing the visibility of African agriculture’s potential and the pressing need for more investments in this domain.
Key Information about the 2015 Grow Africa Investment Forum:
- Dates: June 2-4, 2015
- Venue: Cape Town, South Africa
- Organized by: Grow Africa Partnership
- Attendees: Diverse group of investors, government officials, and agribusiness leaders
- Major Achievements: Announcement of over $1 billion in investment deals; heightened awareness about the potential and need for investment in African agriculture