ASA Convenes Global Coalition to Accelerate Africa’s Food Power Play
Oluchi Chibuzor Africa’s drive to transform from a net food importer into a global agricultural powerhouse takes center stage this September as Agriculture Summit Africa (ASA) returns for its ninth
The Agriculture Summit Africa (ASA) is set to convene a global coalition in Abuja on September 15th and 16th, 2026, as part of its ninth edition. The summit aims to transform Africa from a net food importer into a global agricultural powerhouse, with the theme 'Building the Next Superpower: Africa's Food Power Play.' Sterling Bank's Group Executive, Corporate and Investment Banking, Dele Faseemo, highlighted agriculture as the central focus of the bank's HEART strategy, which encompasses Health, Education, Agriculture, Renewable Energy, and Transportation.
Faseemo emphasized that Sterling Bank's financing in these sectors grew by 39 percent in 2025, reaching N331.7 billion, with agriculture experiencing the most significant increase. Dr. Olushola Obikanye, Group Head, Agric Finance and Solid Minerals at Sterling Bank, framed Africa's food story as a massive economic opportunity, noting that Africa possesses approximately 60 percent of the world's uncultivated arable land, yet spends billions of dollars annually on food imports that could be produced domestically.
He emphasized that food is a key driver of jobs, trade, foreign exchange, industrial policy, climate resilience, and geopolitical power. The International Finance Corporation's Principal Country Officer for Nigeria, Christian Mulamula, commented that Africa's agricultural transformation must extend beyond increasing production to establishing an enabling ecosystem where farmers and agribusinesses can access essential resources such as finance, technology, inputs, infrastructure, and markets.
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