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Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd
The African Development Bank has intensified efforts to transform West Africa’s rice sector, unveiling a regional investment strategy aimed at reducing the region’s heavy reliance on imports and unlocking large-scale private capital for agricultural industrialisation.
Speaking at the West Africa Rice Investment Roundtable in Accra, Richard Kwaku Ofori-Mante warned that the region’s annual importation of nearly 12 million metric tonnes of rice, valued at more than $3.5 billion, remains a major economic and food security risk.
His remarks come as governments across West Africa seek to strengthen food sovereignty following years of global supply disruptions, rising commodity prices and climate-related shocks that have exposed the risks of dependence on imported staples.
Source: newsthemegh.com