Connect with us

Business

Global food crisis looms, AfDB president, Adesina warns

Published

on

Food Crisis: Alarms, alerts and predictions
Spread The News

African Development Bank Group President Dr. Akinwumi Adesina has warned of an imminent global food crisis, advising African countries to prepare for the crisis.

Field questions as a guest at the Atlantic Council’s Africa Centre last weekend, the Bank chief called for an increased sense of urgency amid what he described as a once-in-a-century convergence of global challenges for Africa.

According to Adesina, the continent’s most vulnerable countries had been hit hardest by conflict, climate change and the Covid-19 pandemic, which had upended economic and development progress in Africa. He said Africa, with the lowest GDP growth rates, had lost as many as 30 million jobs on account of the pandemic.

Speaking about the impact of the Russia-Ukraine war, Adesina expressed sympathy for the people of Ukraine, describing their suffering as unimaginable.

He said the war’s ramifications spread far beyond Ukraine to other parts of the world, including Africa. He explained that Russia and Ukraine supply 30% of global wheat exports, the price of which has surged by almost 50% globally, reaching identical levels as during the 2008 global food crisis.

READ ALSODiaspora group canvasses AfDB’s Adesina to join 2023 presidential race

He added that fertilizer prices had tripled, and energy prices had increased, all fueling inflation.

Adesina warned that the tripling costs of fertilizer, rising energy prices, and rising costs of food baskets, could worsen in Africa in the coming months. He noted that 90% of Russia’s $4 billion exports to Africa in 2020 was made up of wheat; and 48% of Ukraine’s nearly $3 billion exports to the continent was made of wheat and 31% of maize.

Adesina cautioned that to fend off a food crisis, Africa must rapidly expand its food production. “The African Development Bank is already active in mitigating the effects of a food crisis through the African Food Crisis Response and Emergency Facility – a dedicated facility being considered by the Bank to provide African countries with the resources needed to raise local food production and procure fertilizer.

According to Adesina, heat-tolerant varieties were now being planted across hundreds of thousands of hectares in Ethiopia and Sudan, with extraordinary results. In Ethiopia, where the government has put the TAAT program to work in a 200,000-hectare lowland irrigated wheat program, farmers are reporting yields of 4.5 to five times per hectare.

READ ALSOAfDB extends $27.39m grant to Ghana for renewable energy development

He said TAAT’s climate-smart seeds were also thriving in Sudan, which recorded its largest wheat harvest ever – 1.1 million tons of wheat – in the 2019-2020 season.

Advertisement

He added that TAAT came to the rescue during the drought in southern Africa in 2018 and 2019, deploying heat-tolerant maize varieties which were cultivated by 5.2 million households on 841 thousand hectares. As a result, he said, farmers survived the drought in Zimbabwe, Malawi and Zambia, allowing maize production to expand by 631,000 metric tons to a value of $107 million.

Asked about the outcomes for Africa of the global climate summit, COP26, in Glasgow last November, and how he foresaw prospects for success at COP27 in Sharm El Sheikh, Egypt in 2022, Adesina expressed optimism. He said it was important for developed countries to make good on their promise to provide Africa with the $100 billion a year required for climate adaptation.

Adesina said: “Our challenge is adaptation because we didn’t cause the problem. In Africa, we are adapting to climate change.”

He explained that the African Development Bank, together with its partner the Global Center for Adaptation, was mobilizing 25 billion dollars to support climate adaptation in Africa.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.

Trending