Farmers To Become The Next Generation Of African Billionaires


Of all the trending options in the entrepreneurial world, none holds up a bigger chance of improving Africa’s economy than the Agricultural sector. The President of African Development Bank (AfDB) Akinwumi Adesina, asserts that the next generation of billionaires will be farmers. In other words, the African agricultural sector has viable capabilities of increasing the existing number of African billionaires.

The former Nigeria’s Minister of Agriculture and Rural Development believes that Agriculture is the surest sector to boost the African economy. In 2013, he was recognized as Forbes African of the Year. This was as a result of his transformation and reforms in the Nigerian farming sector.

See Also: Top 10 Agro-Businesses You Should Be Thinking About

Millions of African youths are constantly churned out of universities and educational institutions. Of these multitude, not even a quarter is assured of employment. These days formal education is just what it should be- to make people more knowledgeable and open-minded. Gone are the days when certificates are express tickets to being employed.

The gospel of skill acquisition and development is trending in Africa. Agriculture holds up a majority of the skill acquisition alternatives that one can embrace. African Agriculture still has untapped potentials. Farming in itself has many facets – fish farming, dairy-farming, vegetable/crop farming, animal husbandry, amongst others.

Adesina is not wrong in believing that the next generation of billionaires will be farmers. This supposition makes a whole lot of sense. Each day Africa celebrates entrepreneurs who are making the best out of Agriculture. With technology, the job is much more easier than it used to be. If Africa says no to foreign aids, then there is need for a plan to be economically self-sufficient. One sure way of doing this is through Agriculture. There is need for more Africans to become farmers.

From past records, Africa’s leading family businesses, mostly emerged from Agriculture. There was much value then for the fields and cash crops. All of a sudden, the oil boom came in and distorted what was once a healthy economic network for most African nations. Billionaires like King Mohammed VI of Morocco, Dangote, Muljibhai Madhvani, Said Salim Bakhresa, Anton Rupert, Micheal Ibru, the Dantata’s and Tanzanian Dewji family are all proofs of the potential of Agriculture.

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The story of Kenyan Tassells Dairy Farm is a more recent illustration of the power of Agriculture. The founders of the dairy business self-schooled themselves through the internet. They started pretty small till they were ready for a major expansion. Patiently they grew their business to the point where they raised about 400 dairy cows, which yielded a range of 6,000 – 12,000 litres of milk per day.

Agriculture is a really good plan even for the already employed citizens. Especially in sectors that give no dependable job security, the farm fields and the harvests are great options to fall back on.

According to Adesina, major local and international investors are now investing in agriculture.

The number of seed companies alone has risen dramatically and the banks are lending to the sector more than ever before.

See Also: President Buhari Urges Nigerians To Produce The Food They Eat