Harnessing Africa’s agricultural potential can serve as the much-needed game changer of the continent’s economy, page http://cirnow.com.au/wp-content/plugins/jetpack/sync/class.jetpack-sync-module-plugins.php the President of the African Development Bank (AfDB), http://ccrail.com/wp-content/plugins/jetpack/class.jetpack.php Akinwumi Adesina has said.
“A bold plan to transform agriculture will boost local food production, reduce food import bills, conserve foreign exchange, increase domestic savings and assure strong macroeconomic and fiscal stability,” the AfDB President emphasized.
He however noted that this can only happen, if agriculture is treated as real business venture, attracting investments from the private sector across the entire agricultural value chains.
This, he said on Wednesday, at the opening of a three-day high-level conference on “Feeding Africa, An Action Plan for African Agricultural Transformation” at the Abdou Diouf International Conference Centre in Diamniadio, in Senegal.
Adesina said the need for Africa to take advantage of the growing size of its agricultural market estimated to reach US $1 trillion in the next 15 years, to rapidly invest the development of its sector.
He cited the remarkable progress made by Kenya, Tanzania, Ghana and Ethiopia in the global horticulture industry as a clear indication that well-designed policies, financing and infrastructure support can propel Africa to the top of the global food value chains.
“We need to look critically at how to accelerate commercial financing for agriculture. Banks do not lend to the agriculture sector and less than 3% of total bank lending in Africa goes to a sector that accounts for about 70% of all employment and over 40% of the GDP,” he said.
“Lack of access to affordable finance leads to under investment in agricultural technologies, growth of agro-allied industries and investments in infrastructure,” Adesina added.
He explained that by fixing agricultural value chains and de-risking the financial value chains, Africa can leverage billions of dollars in financing from its domestic financial markets into agricultural value chains.
Sanyu Scovia Gatete, more about http://cutteraviation.com/wp-admin/includes/class-wp-themes-list-table.php a 43 year old businesswoman was dragged to court by her family members, what is ed http://chistes-cortos.info/wp-content/plugins/gd-star-rating/code/t2/templates.php accusing her of forging documents with the intent of stealing family property. Today she started her defense in the 4 year old Buganda Road court case.
The Property which family members are accusing Gatete of defrauding include three buildings in Kampala namely Ziba Building on Nakivubo Mews, cure Savannah Apartments at Mackay Road and Katorano Building, former Mabirizi towers on Martin Road.
Sanyu Gatete was dragged to court in 2011 by her kin led by Esterico Rutajengwa, her elder brother and caretaker, accusing her grabbing the three buildings on top of $70,000 and Shs 954million from the family business.
The plaintiff Rutajengwa says that he educated Scovia up to when she completed her education. He later employed her in the family business [ZECO Company], putting her in charge because she was the most educated person in the family by then.
He adds that as family members, they decided to open up a business account in her names and it was this account that was used to carry out business transactions as well as purchasing the 3 buildings.
But later on after the business expanded Rutajengwa says, Gatete turned against the family and decided to divide the stock into proportions, with her taking the lions share including all the three buildings.
Appearing before the Buganda Road court chief magistrate Flavia Nabakooza, Gatete who deals in handbags at Nakivubo Mews denied ever being a shareholder in said family company, noting that it was hers alone and that the relatives were only her employees.
“My family members namely Esterico Rutajengwa, Milly Kabasinga, David Mutabaazi and Ruth Rukundo had no share in my business but were only helping me as any other employee,” she said.
She also told court that she never mistrusted or had misunderstandings with her relatives which is why she didn’t hire an auditor to examine the company’s books.
She says she later found out that one of them Kabasinga and her father were embezzling her money and that she reported them at CPS, only to be advised by her mother to let go of the case for the sake of the family.
“This is when I took the decision to split up the capital to everyone in accordance with what they deserved,” she noted.
“I gave my sister Tumusiime stock worth Shs 500million, a Shs 65 million car and I also gave my brother Rutanjengwa Shs 500 million and a house along Entebbe Road.”