Investing in the agrifoodtech sector is seen as the key to Africa’s stable, sustainable and prosperous development. A sense of optimism and opportunity has emerged on the continent, which is supported by the fast pace of technological change, the young and rapidly growing population, diverse cultures and the spirit of resilience and innovation of the people. According to AgFunder’s 2023 Global AgriFoodTech Investment report, Africa was the only region globally where agrifood tech investment increased in 2022. Startups raised $640 million in 2022, up from $528 million in 2021. Investment in agritech is critical as Sub-Saharan Africa faces serious food insecurity, with 80% of its farming taking place on less than 2% of its land mass.
Precision agriculture tools can play a crucial role in increasing productivity and quality by providing data on weather, soil quality, and crop yield, enabling African growers to make data-driven decisions on planting, irrigation and fertilization. Mechanization, robotics and precision agriculture can improve labor efficiency and increase crop yields, while supporting the practice of agroforestry and regenerative agriculture that are prevalent among smallholder farmers.
Transport infrastructure has improved significantly over the past decade, and farmers say this has greatly improved their ability to transport produce to the market. Advanced logistics technology can improve transportation infrastructure and enable efficient and timely transportation of produce and farmer/community education.
Closing the nutrient loop and establishing more resilient rural and urban food systems through zero-waste and the valorization of waste in African food systems can help minimize losses along the value chain, providing economic opportunities, jobs, and overall value to communities. The convergence of mobile technology, robust infrastructure, and precision farming techniques has immense promise to empower farmers, improve productivity, and ensure food security for a rapidly growing population in Africa.
