The World Bank (WB) estimated, in the latest edition of its note on the economic situation of the Central African Republic, published this Friday, March 10, that this country can lift millions of inhabitants out of poverty by transforming its vital agricultural sector, to drive economic growth.
In this Central African country, nearly 75% of Central Africans, especially women, live from agriculture, mainly with informal jobs, according to the financial institution, which specifies, however, that the sector has been slowed down during recent years by the lack of investment and modernization, as well as by the weakness of the infrastructure.
The Bank recommends urgently implementing deep and sustained reforms to revitalize the agricultural sector, which contributes significantly to poverty reduction, particularly at a time when the Central African economy is facing multiple crises.
Rising food and fuel prices, disruption of supply chains, political unrest caused by the adoption of the cryptocurrency law, as well as the impact of the war in Ukraine are slowing economic growth in the CAR, with downside risks, it is underlined.
According to the World Bank’s operations manager for the Central African Republic, Guido Rurangwa, this country “has abundant arable land and a favorable climate for agriculture and livestock farming. A comprehensive strategy supported by concrete reforms would unlock the potential of the agricultural sector, protect livelihoods, accelerate growth, create jobs, and improve the living conditions of Central Africans”.
The Bank identifies five priority areas to transform the agricultural sector into an engine for the country’s growth and prosperity. These include the institutional framework; access to finance; market access; land and property law; and agricultural inputs and equipment.
The Bank document also underlines the importance of the role of women in agriculture, who represent more than 78% of the agricultural labor force in the Central African Republic. Their empowerment is essential to the well-being of rural families and communities and to overall economic productivity, as well as to improving food security and reducing poverty, the note concludes.
By OMA Newsletter N° 1083 of 10/03/2023
Article published under the direction of Dr. Najib Kettani
The OMA, NGO with an Intercontinental vocation
For the development of cultural exchanges
Valuing human potential
The promotion and consolidation of Africa’s development, and
Inter-African integration
