Africa’s big food opportunity

African Food Security, a New York-based company, is set to revolutionize food production in Africa by leveraging the continent's vast resources and untapped potential. CEO Alan Kessler recently discussed the company's ambitious plans in an interview with CNBC Africa, detailing their vision to transform Africa from a food importer to a food exporter in the coming years. Building on a successful experience in Senegal, the company is now focused on implementing a business model that mirrors the successful agricultural practices seen in Brazil in the early 90s. Kessler emphasized the abundance of natural resources in Africa, including fertile land, ample sunshine, and water, that can be harnessed to increase food production and achieve food security across the continent. The company initially focused on alfalfa production for cattle feed but shifted its focus to staple crops to address Africa's food security challenges effectively. Partnering with the Baba Danpulo family in Cameroon and exploring opportunities in the Democratic Republic of the Congo, African Food Security aims to establish large-scale commercial farming operations to boost agricultural productivity. The innovative approach includes leveraging technology from Israel, machinery from the United States, and expertise from Michigan State University to enhance farming practices and drive sustainable growth. One of the key elements of African Food Security's strategy is the emphasis on local participation and talent development. The company is committed to empowering local communities and creating economic opportunities through agriculture. By engaging with local partners and stakeholders, African Food Security seeks to build a holistic ecosystem that not only addresses food security but also contributes to economic development and industrial growth across the continent. As the company looks to expand its operations and increase its hectare footprint to approximately a million over the next three to five years, it is actively seeking capital investments from various sources. With founder funding as a starting point, African Food Security is now in discussions with private equity groups in South Africa, European Union governments, and potential investors from the US and the Gulf states. The goal is to secure $875 million in capital to drive the implementation of transformative agriculture projects in Cameroon and the Democratic Republic of the Congo. Kessler emphasized the importance of creating a sustainable and inclusive business model that involves local communities and fosters long-term partnerships. With a commitment to transparent practices, profit-sharing models, and production collaboration, African Food Security aims to not only meet the growing food demands within Africa but also contribute to the region's economic and social progress. The company's vision aligns with the continent's potential for agricultural growth and sets a bold example for transformative development in the food production sector.