Economy
Africa’s Agribusiness Sector to Worth $1 trillion by 2030
By Dipo Olowookere
The African Development Bank (AfDB) has projected that Africa’s agribusiness sector, with its vast agricultural potential, will reach $1 trillion by 2030.
This information was revealed as project sponsors, borrowers, lenders and investors gathered at the Africa Investment Forum last week to make deals on investment opportunities.
During the programme, leaders of the continent’s top agribusiness companies shared their thoughts on the future of the industry with a consensus reached that agribusiness will become the ‘new oil’ on the continent, fuelling the motor of inclusive growth.
“Agriculture is a key priority for the African Development Bank, through our Feed Africa strategy,” said Jennifer Blanke, the African Development Bank Vice President for Agriculture, Human and Social Development.
“Understand that by transforming Africa’s agriculture sector it will become the engine that drives Africa’s economic transformation through increased income, better jobs higher on the value chain, improved nutrition, and so on,” she said in her opening remarks at an Africa Investment Forum session titled, Agribusiness: investment conversation with industry leaders.
Some agribusiness leaders said there is a need to invest $45 billion per year to harness the power of agriculture and move up the value chain to create jobs and wealth. At present, only $7 billion is invested in the sector.
Investments from the private sector, leaders said, will create the adequate environment and enhance the emergence of locally owned agro-processing industries, capable of creating jobs and increasing incomes in rural Africa. The continent could become a net exporter of agricultural commodities, replacing $110 billion worth of imports, as well as doubling its share of market value for select processed commodities.
The full-capacity session was a highlight of the Africa Investment Forum, organised by the African Development Bank. The event brought representatives from multilateral financial institutions, pension funds, sovereign wealth funds, government officials and private investors to Johannesburg, South Africa for three days.
Participants in the agribusiness session discussed the industry’s entire value chain. Leading the ‘fireside chat’ was a roundtable of experts that included Aliko Dangote, President and CEO of the Dangote Group; Zainab Shamsuna Ahmed, Minister of Finance of Nigeria; William Asiko, CEO, Grow Africa; John George Coumantaros, Chairman, Flour Mills of Nigeria and TP Nchocho, CEO, Land and Agricultural Bank of South Africa
“We need to do the research to produce the right solutions to the issues we might face along the value chain. Youth are particularly involved in this aspect as they know how to develop tools addressing issues such as water management and release”, said Aliko Dangote.
Agribusiness can also promote industrialisation and urban employment, break the ‘productivity gap’ of development, and improve the quality of life for all Africans. Attendees said Africa’s agricultural potential needs to be unlocked.
Session participants said they want to bring African agriculture to the next level. For the small and medium scale farmers, the main challenge remains access to finance. Zainab Shamsuna, Nigeria’s Minister of Finance urged investors and development partners to adapt their policies to accommodate more participants in the agriculture value chain,
“I want us to eat what we grow and consume what we produce”, Shamsuna said.
In closing the session, Edward Mabaya, Manager of Agribusiness Development at the African Development Bank highlighted the vast investment opportunities in Africa’s agribusiness including seed, fertilizer, mechanization, processing and storage.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
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