Digital innovations are the solution to creating a booming agricultural sector in Africa and spurring economic growth. The youth are the future of agriculture in Africa and digital solutions are making agriculture more attractive to them, consequently creating employment. There are currently about 400 digital agricultural solutions in Africa, which have about 33 million subscribers. These solutions have helped increase productivity by 73% and led to an income increase of 37% for farmers. Super platforms, a name given to digital solutions which offer more than one service, increase yields by up to 168%. 71% of the users of digital agricultural services in the continent are under the age of 35. However, even with the high number of solutions, 90% of the agricultural digital services market worth over $2.26 billion remains untapped. Get the details at Ventures Africa.
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Investors are scrambling for a share of investment in the growing agricultural sector, with start-ups having gathered a combined capital of $13.2million in 2017, a 203% increase from 2016. The African diaspora investor should seek to fund youth-tailored technologies to motivate youth involvement in agribusiness. Additionally, investing in Africa’s digital infrastructure, including aspects such as broadband services, developing digital skills, and digital finance services will pave way for digital innovations in agriculture. Moreover, the African diaspora can take advantage of the existing innovation niche by funding agricultural innovation hubs and agricultural startups.
Are you interested in investing in the agricultural sector? Check out the types of agricultural technologies that are changing the way farming is done in Africa.