Agriculture, key to Africa’s quest for continued growth, sustainability —Olam

AFRICA cannot achieve self-sufficiency in agriculture without engaging and building the capacity of its smallholder farmers. This was the submission of Venkataramani Srivathsan, Managing Director and Chief Executive Officer of Olam Africa, the Middle East and North America regions, who spoke during a panel discussion on a BBC agro webinar event tagged ‘Agriculture – Africa’s Future’, held on Tuesday, June 8, 2021.

According to Venkataramani Srivathsan, providing training and financing opportunities for the 80 million small-scale farmers on the continent would boost food security, food safety and job creation in the agro value chain.

He said, “The COVID-19 outbreak was a setback for the African continent. The global health crisis took its toll on the continent’s food supply value chain thereby disrupting vital agro activities which led to the escalated level of food insecurity.”

He added that effective capacity-building efforts, access to revenue-boosting agro-technology, the assembly of robust irrigation infrastructure and the implementation of an effective micro-financing framework were necessary to help African smallholder farmers scale their operations, encourage massive youth participation in Agriculture and drive food security on the continent.

“Olam works with 2.5 million smallholder farmers in Africa and is investing toassist them in creating wealth for their communities and respective economies at large. We invest in research to make high yielding seed available to the farmers. We are also tapping our global expertise in the agro value-chain to help the farmers adopt modern agro practices while extending loans to them through our participation in various anchor borrowers and out-growers initiatives across the continent”, Venkataramani Srivathsan said.

Olam is a leading agribusiness conglomerate which supplies crops, ingredients and packaged foods to the global market. It is actively involved in supporting the African continent build self-sufficiency in food production by investing extensively in various wheat, rice, dairy, maize, tomato, hatchery and poultry, and animal feed production development programmes on the continent. The BBC regional agriculture development webinar, therefore, engaged the agribusiness firm as one of several key players on the continent’s agro value chain, to discuss how to stimulate growth and ensure sustainability in food production in Africa. This engagement aims to guarantee food security, employment generation and foster agro-based economies on the continent.

Besides Venkataramani Srivathsan, other panellists who featured on the webinar were Damian Ihedioha, Division Manager, Agribusiness Development Division, African Development Bank (ADB), Hon. Beauty Manake, Assistant Minister, Ministry of Agricultural Development & Food Security, Botswana; Dr Kulani Machaba, Regulatory Affairs Leader, Africa & Middle East, Corteva Agriscience and Amrote Abdella, Regional Director, Microsoft 4Afrika. Zeinab Badawi, BBC World News presenter moderated the panel.

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