By Abdullahi Lukman
President and CEO of the Africa Finance Corporation (AFC), Samaila Zubairu, has called for unified efforts to address Africa’s $50 billion annual spending on food imports.
Speaking at the Africa Business Forum 2025 in Addis Ababa, Ethiopia, Zubairu stressed that this expenditure, which mainly covers staples like cereals, oils, and grains, not only drains foreign exchange reserves but also exposes the continent to external shocks such as fluctuating global food prices, supply chain disruptions, and climate change.
Zubairu warned that Africa’s reliance on food imports is set to rise unless systemic changes are made in agricultural production and food systems.
He said that agriculture, which constitutes a significant portion of Africa’s GDP and employs over 60 percent of the population, is hindered by low productivity and challenges faced by smallholder farmers, including outdated farming practices and limited access to capital and insurance.
Despite Africa’s vast agricultural potential, including more than 60 percent of the world’s uncultivated arable land, the continent remains plagued by food insecurity, with over 282 million Africans suffering from undernourishment.
Zubairu pointed to post-harvest losses—up to 40 percent of perishable crops—due to poor storage and transportation systems as a significant barrier to food security.
To combat this, he emphasized the need for investments in cold storage and value-added infrastructure.
He cited AFC’s partnership with Nigeria’s Sovereign Investment Authority (NSIA) to develop modular warehouses and cold storage solutions as a model for improving food security and stabilizing prices across the continent.
The Forum also featured remarks from key figures such as Claver Gatete, Executive Secretary of the United Nations Economic Commission for Africa (ECA), who underscored the importance of strengthening Africa’s value chains for economic growth.
Monique Nsanzabaganwa, Deputy Chairperson of the African Union Commission, highlighted regional cooperation through the African Continental Free Trade Area (AfCFTA) as crucial for boosting intra-Africa trade.
Ethiopian President Taye Atsekselassie also emphasized the need for resilient infrastructure and human capital investment to reduce Africa’s dependence on external markets and support industrialization.
