Global food insecurity is rising while Africa holds the land, people, and potential to feed the world. Under South Africa's presidency, the B20's Sustainable Food Systems and Agricultural Task Force has laid out a business case to turn agriculture into a driver of growth.
Climate shocks make farming more unpredictable. Conflicts exposing fragile supply chains and food insecurity rose 150% between 2019 and 2022, according to the World Bank.
Against this backdrop, Africa stands out for all the right reasons. It holds close to 70% of the world's uncultivated arable land, a young and growing population, and an agricultural sector that already makes up more than a third of its GDP.
"It is estimated that about two-thirds of the world's arable land is within the African continent. That suggests that Africa is potentially the food basket of the world," said Absa CEO Kenny Fihla.
This is why the B20, the business voice of the G20, has zeroed in on agriculture under South Africa's presidency. Its Sustainable Food Systems and Agriculture Task Force has put forward a set of recommendations designed to attract investment and turn Africa into a global supplier.
Anthony Costa, head of the B20 Secretariat, explains the motivation:...
