How African countries can tackle commodity price surge in wake of food security threats

The rise in commodity prices has been a significant challenge for African economies, particularly impacting key food items like maize and wheat. The situation has been exacerbated by uncertainties surrounding the Black Sea grain deal, leading to concerns about elevated food shocks in African countries. In light of these developments, CNBC Africa engaged in a conversation with Purity Wangui Ngirici, Board Chair of Kenya Seed Company, to gain insights on how African nations can address this pressing issue. Ngirici highlighted the positive impact of government interventions in the agricultural sector in Kenya, particularly in reducing fertilizer prices and promoting bumper harvests. She commended the President's bold decisions, which have resulted in increased productivity and lower costs for farmers across the country. The success of these initiatives underscores the importance of strategic policies and investments in the agricultural value chain to enhance food security and economic stability. Ngirici emphasized the need for a collective effort within East Africa to address challenges related to rainfall scarcity and high food prices. As the chair of a regional seed company, she underscored the significance of climate-smart seeds in ensuring sustainable agricultural practices amidst changing weather patterns. Kenya Seed Company's commitment to innovative research and expansion across the region demonstrates a proactive approach towards enhancing food production and resilience. Ngirici also highlighted the potential for seed businesses to contribute to regional food security, emphasizing the importance of cross-border collaboration and policy alignment. She shared insights from a recent seed congress in Rwanda, where public-private partnerships were instrumental in promoting food and nutritional security. The collaboration between governments, private sector entities, and local communities has facilitated the growth of the seed industry and created employment opportunities in various countries. Ngirici discussed the importance of intellectual property rights and local production in driving economic growth and sustainability. She expressed optimism about the prospects of the African Continental Free Trade Area (AfCFTA) in promoting intra-African trade and value addition. By prioritizing the production of finished goods over raw materials, African countries aim to maximize the value derived from their natural resources and stimulate economic development. The shift towards value-added production and regional cooperation signals a paradigm shift in African trade dynamics, positioning the continent as a key player in the global market. As African nations strive to harness their agricultural potential and leverage innovative solutions, the seed industry emerges as a critical component in driving sustainable development and food security across the region.