The Agriculture Summit Africa (ASA) 2026, co-convened by Sunbeth Global Concepts, concluded with a unified call for Africa to transition from exporting raw agricultural commodities to capturing value through local processing, storage, trade, and finance. The two-day event, held in Nigeria, attracted over 12,000 physical and virtual participants, including ministers, investors, agribusiness leaders, and researchers. The summit, themed 'Building the Next Superpower: Africa’s Food Power Play,' aimed to transform the continent’s agricultural sector into a driver of economic sovereignty and self-reliance.
Minister of Agriculture and Food Security Abubakar Kyari, a former senator, highlighted the staggering $100 billion annual cost of food imports, a figure that underscores the continent’s reliance on external markets despite its agricultural potential. 'Africa spends more than $100 billion a year importing food it is capable of producing,' Kyari stated, emphasizing the need to reorient the sector toward value addition. This approach, he argued, would not only reduce dependency but also create jobs and stimulate economic growth.
Dele Faseemo, Group Executive, Corporate and Investment Banking at Sterling Bank, warned that food security is now a matter of national security. 'Real and sustainable sovereignty depends as much on food security as it does on physical security,' he said. Faseemo urged the sector to shift from abstract ideas to actionable solutions, stressing the importance of coordinated efforts to bridge the gap between agricultural production and market access.
The summit focused on several critical areas, including intra-African trade under the African Continental Free Trade Area (AfCFTA), climate-risk management, cold-chain infrastructure, and technology-driven solutions. A recurring theme was the inefficiency of current systems, where gains in production are often lost due to inadequate storage, logistics, and market control. 'Gains in one part of the chain, such as higher yields, are routinely lost downstream to weak storage, logistics, and markets that farmers neither own nor control,' one delegate noted.
Minister of Livestock Development Idi Mukhtar Maiha called for a financial model tailored to biological assets, criticizing conventional short-term, high-interest lending as incompatible with livestock farming. 'We cannot finance biological assets as though they are fast-moving consumer goods,' he said. Maiha highlighted that livestock contributes $32 billion to Nigeria’s economy and could reach $74 billion by 2035 under a national strategy focused on feedlots, abattoirs, and cold chains.
Dr. Olushola Obikanye, Group Head of Agric Finance and Solid Minerals at Sterling Bank, redefined agriculture as the foundation of broader economic growth. 'Africa’s challenge is not a lack of agricultural potential, but the ability to convert that potential into productivity, into value, and, more importantly, into power,' he said. Obikanye emphasized the need to connect farmers to finance, technology, and markets to transform agriculture into a competitive industry.
A key outcome of the summit was the launch of AgricHub, an agricultural business platform designed to link farmers, agribusinesses, and financiers with markets and technology providers. The platform aims to create an ecosystem where capital, enterprise, and market opportunities intersect, fostering sustainable growth. 'The opportunity is not simply to produce more food, but to create and capture more value,' Obikanye added.
Speakers at the event included prominent figures such as Senator Abubakar Kyari, Senator Aliyu Sabi Abdullahi, Dr. Benjamin Ashaver, Sarah Ockman, and Dr. Janett-Star Erastus. Industry leaders like Olapeju Ibekwe, Ruth Ozigbo, and Oame Airauhi guided sessions on topics ranging from financing models to climate resilience. The discussions underscored the need for integrated systems that address the entire agricultural value chain.
The summit’s investment pipeline targeted $300 million, with nearly 100 structured matchmaking sessions in its Deal Room. These sessions aimed to catalyze partnerships between agribusinesses, investors, and financial institutions. 'This platform seeks to change the narrative of agriculture from production-focused to value-driven,' said one participant, highlighting the potential for scalable enterprises.
Public and private sector collaboration was a central theme, with the summit supported by a coalition of partners including the International Finance Corporation (IFC), GIZ, Mastercard, IDH, and the Development Bank of Nigeria. These organizations pledged to advance initiatives that align with the summit’s goals of food sovereignty and economic resilience.
The event also addressed the role of technology in agriculture, with discussions on data-driven solutions, digital platforms, and innovation in cold-chain infrastructure. Participants emphasized that technology must be accessible to smallholders, women, and youth to ensure equitable growth. 'Financing models must be tailored to these groups to unlock their potential,' said one delegate.
Minister Kyari reiterated the urgency of the task, stating that Africa’s agricultural sector must move beyond subsistence to become a pillar of economic power. 'The opportunity is not simply to produce more food, but to create and capture more value,' he said, echoing the summit’s core message. His remarks underscored the need for policy reforms and investment in infrastructure to realize this vision.
The summit concluded with a commitment to translate discussions into actionable projects. Delegates left with a renewed sense of purpose, recognizing that the path to food power requires sustained collaboration, innovation, and a shift in mindset. 'This is not just about agriculture; it’s about building a future where Africa controls its own destiny,' said one participant, encapsulating the summit’s transformative ambition.
The ASA 2026 summit marked a pivotal moment in Africa’s agricultural renaissance, setting the stage for a new era of self-reliance and economic empowerment. By prioritizing local processing, value addition, and sustainable finance, the continent is taking a critical step toward securing its food future and unlocking its full potential.
The event’s emphasis on collaboration and innovation has already sparked interest in new partnerships and initiatives. As Africa moves forward, the lessons from ASA 2026 will serve as a blueprint for transforming agriculture into a cornerstone of economic growth and resilience.
The summit’s success highlights the growing recognition of agriculture as a strategic sector for development. With continued investment and policy support, Africa’s agricultural sector is poised to become a driver of prosperity, reducing dependency on imports and fostering a more sustainable and equitable future.
The discussions at ASA 2026 have set a clear direction for the continent’s agricultural future. By focusing on local processing, value addition, and sustainable finance, Africa is taking a critical step toward securing its food sovereignty and unlocking its full economic potential.