Farming and Agribusiness Industry

Farming and Agribusiness Industry

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Prior to the concept, development, and emergence of Agribusiness in 1957 by John Davis and Ray Goldberg, the whole of Sub Saharan Africa’s agriculture sector has been suffering from the Guggisberg’s economic syndrome.
The sustenance of the above colonial economic structure came with its own costs including; direct costs such as near-stagnation of export receipts, import dependency, aid dependency and external debt burden as well as indirect costs, including high unemployment, high cost of living, and weak currency.

It is regrettable that in a 21st century world, where Agriculture has been mechanized in almost all developed countries, Africa is now waking up to the reality of the enormous economic benefits that agribusiness holds for her people.

It is particularly sad that for over 50 years of post-colonization, Africa still fancies, for instance, the exportation of her raw agricultural products, without adding any value whatsoever.