ADVISORS on agribusiness partnerships, Prorustica, and africapractice, a Pan-African strategic advisory and communications consultancy, have signed a Memorandum of Understanding (MoU) to facilitate and foster agricultural partnerships in Africa.
The combined skills and expertise of the two, would help to develop agricultural partnerships that create value for governments, investors and rural communities. Reacting to the new partnership, the Managing Director of Prorustica, Mr Patrick Guyver, said realizing Africa's agricultural potential would mean food security not only for the region and the world.
"It will mean widespread poverty alleviation and improved livelihoods through job creation, export revenue, and higher rural incomes, among other factors", he said. He said the two organizations have pooled their experience and their services to assist companies and investors to identify and develop opportunities throughout the agricultural value chain in Africa.
Mr Gyver said the partnership provides platforms for private-public sector engagement, which are critical in the development of sustainable inclusive agribusiness models.
"The Partnership understands that engaging the domestic and international private sector is crucial to unlocking inclusive growth at all levels, particularly for smallholder farmers, who are the guardians of Africa's agriculture," he said.
The Managing Director of Africapractice, Mr Marcus Courage, touted it as a winning team combining Prorustica's experience of the agricultural sector with his company's risk analysis and strategic communications services, to be able to mitigate the risk and reduce the transaction costs associated with agricultural projects in Africa.
"Agriculture investments throughout Africa have been characterized by too much failure, either because they don't deliver adequate returns for investors, or because they fail to accommodate the needs of local communities and regulators. "Many factors are at play, ranging from licences and permits, to labour and technology, infrastructure and tax regimes.
In many cases, there's a lack of transparency and an absence of dialogue, which leads to misaligned expectations and a breakdown of trust, resulting in project failure," he said.