Dr Akinwumi Adesina, President, African Development Bank (AfDB), says Africa must embark on agriculture industrialisation and its value chain to transform the continent’s economy.

Adeshina made the call in his goodwill message to the ongoing Feed Nigeria Summit on Wednesday in Lagos.

The theme of the summit organised by AgroNigeria is Feed Nigeria to feed Africa.

Adesina urged governments to provide incentives to food and agribusiness companies located in rural areas through establishment of staple crop processing zones.

According to him, staple crop processing zone, which are vast in agro industries zones, enabled with infrastructure, will encourage food industries’ operators to establish factories in rural areas.

Adesina said investment in these areas would reduce the cost of doing business, create huge market pool for farmers and reduce post-harvest losses.

“These staple processing zones will transform rural Africa into new zones of economic prosperity,” he said.

The AfDB chief stressed the need to approach agriculture as a viable business, adding that Africa had no business importing food.

“Africa has no business importing food. Africa should be a net exporter of food.

“Agriculture in Africa must move away from being treated as a social sector for managing poverty to a business of creating wealth,” he said.

According to him, development of agricultural value chains will create market opportunities for hundreds of millions of farmers.