Luanda: Angolan businessman Carlos Cunha argued on Tuesday in Luanda, that European countries should support the local implementation of processing industry networks in Africa. This would contribute significantly to the continent's production value chain and economic growth.
According to Angola Press News Agency, Cunha highlighted the urgent need to change the support model provided by European countries and organizations to Africa. He pointed out that while Europe has financed various empowerment, technical, and professional capacity-building programs for many years, these initiatives have failed to produce the expected results.
Speaking on a panel about "Africa's Commercial Competitiveness and Market Access" at the 7th African Union-European Union Business Forum, Cunha emphasized the importance of attracting European processing industries to enhance the entire value chain and promote continental food self-sufficiency.
Cunha identified several challenges in the development of agribusiness in Africa, citing a lack of funding and weak monitoring of approved and funded projects as major obstacles. Additionally, he pointed to the difficulty of distribution and the low capacity of micro, small, and medium enterprises, along with an almost nonexistent logistics network, which hinders the expansion of African agri-food products into international markets.
