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January 22 | east africa investment | 529 views | 0 Comments

By Daily News Reporter |

OVER 3.4 billion US dollars (over 6.08trn/-) has been invested in commercial agriculture by foreigners in Tanzania thanks to improving investment climate.

Agribusiness Congress East Africa Director, Liam Beckett said in general East Africa is seen as an agribusiness investment destination for foreign investors. “Other countries that are showing strong growth in this sector are Zambia, Uganda, Mozambique, Malawi, Liberia, Kenya and Ethiopia.

“This development requires the agri-sector to adapt to new technology, be open to innovations and modernise their farming techniques,” Mr Beckett said.

In a statement released by Agribusiness Congress East Africa ahead of the annual conference which starts next Wednesday, Beckett pointed out that fortunately, finance for farmers to purchase new equipment and insurance for this and existing equipment is becoming more readily available to the farming industry, as banks and finance houses are re-investing in the business sector.

“At Agribusiness Congress East Africa we once again look forward to bringing together key public and private stakeholders, from across the East African agricultural sector and facilitating the discussions on the latest developments and challenges in our sector,” he noted.

Among distinguished speakers at this year’s event includes Ministers of Agriculture Food Security and Cooperatives, Eng Christopher Chiza, and of that of Livestock and Fisheries, Dr Titus Kamani who will address the opening session of the conference next Wednesday.

Some 800 agriculture experts are expected at the conference and exhibition to focus on finance, best practice and sustainability in the region’s blossoming farming sector, the statement added.

The conference which is jointly organized by ACEA and Agriculture Council of Tanzania will get a key note address from Mercy Karanja, Senior Programme Officer and Regional Advisor of Bill & Melinda Gates Foundation of the United States.

ACT Chairman, Dr Sinare Sinare will also address the conference, which will be attended by input suppliers, agro-processors, traders, exporters, retailers, commercial farmers, processors, policy makers to government and associations.

Other leading speakers will include; Stephen Muchiri who is Chief Executive Officer, Eastern African Farmers Federation based in Kenya; Felix Mosha who is Chairman of East African Business Council from Tanzania; Geoffrey Kirenga who is Chief Executive Officer of Southern Agriculture Growth Corridor of Tanzania, Gerald Masila, Executive Director, Eastern African Grain Council based in Kenya; Carter Coleman, Chairman, Kilombero Plantations from Tanzania and Jacqueline Mkindi who is an Executive Director of Tanzania Horticulture Association.

Over 40 leading local and international companies are showcasing their solutions, including Impo, Monsanto, Lonagro, John Deere, Syngenta, Afrivet, Ari Trading Post and FMD. The expo also features a German pavilion with well-known agri suppliers including Claas, Grimme and Pottinger.

Source:  http://allafrica.com/stories/201501210410.html

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