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What about the agricultural sector since it was brought to light at COP 22 ? This is one of the questions answered by the think tank dedicated to the new emerging countries, Havas Horizons, in its annual study «Financing African Growth by 2022: Perception of International Investors» . A report by Havas Horizons, offered by Havas Paris, to which the Institut Choiseul collaborated.
For the third consecutive year, the study is based on a survey that takes into consideration 55 of the largest financial and banking institutions operating in Africa. «Quantitative and qualitative», it covered a total of 10 questions.
African agriculture is now considered a promising sector, «driven by the need to feed a growing population» and «reduce the risks of depending on imports».
Agriculture, a pillar of Morocco’s future
Among the most promising sectors for the period of 2017-2022 in Africa, energy is still in first place, followed by agriculture and financial services. The importance of the agricultural component supports the idea that it is essential to «succeed in the agricultural transition and to reduce the uncertainties linked to the climate». A change of course, especially after the COP 22 last November, which clearly gave a boost to this sector : according to the study, 65% of foreign international investors say they are interested in this sector compared to 7% in the previous edition of the report.
In the same regard, the study claims that 90% of the ones asked «see agriculture as a promising and unavoidable sector», moreover, 61% are believe that they have to invest or strengthen their investments in the years to come. In addition, six countries stand out as «the most likely to face these challenges» namely : Ethiopia and Côte d'Ivoire (ex aequo) are in the top spot with 43%, followed by Kenya with 38%.
In addition, 23% of respondents cite Morocco as a champion of agriculture, which allows it to occupy the last step of the podium. At the bottom of the pack, Nigeria and Cameroon both finished fourth place, cited by 20% of investors
The most attractive countries list
Morocco, however, did not make it this year to the list of the most attractive countries in 2022. In 2016, the top five were Ethiopia, Nigeria, Morocco, Ghana and Senegal. This year, ranking contains Kenya and Côte d'Ivoire excluding Morocco and Ghana.
In this sense, the authors emphasize that «all the top 5 countries, except Nigeria, have led to a rapid diversification of their economies, which are now less vulnerable to the volatility of commodity prices over their economies». These countries, valued by international investors, despite their specific characteristics and dynamics of growth, represent a stepping stone for Africa.
Thus, investor enthusiasm explains the long-term forecasts and panel choices: «No investor wants to lower his investments by 2022». «The World Bank estimates that growth should reach 2.5 This year and will continue to grow in the years to come, thanks to the recovery in international trade and the rise in oil prices».
«After a decline in growth since 2015 in a gloomy global context, 2017 is hoping for a return to growth on the African continent», the authors conclude. Figures motivated by «the acceleration of intra-African cooperation, demographic dynamism and the emergence of a middle class as well as the diversification of activity».
