ECOWAS organised a side event on "Increasing Investment for Rice Self-Sufficiency in West Africa: Opportunities and Challenges" on 3 September, in partnership with the AfDB, JICA, AGRA and the World Bank at the 2024 Forum on Food Systems in Africa held from 2 to 6 September 2024.
More than 300 people including ministers, governors, researchers, rice producers and processors, students and technical and development partners took part in the event, which fostered the formation of strategic partnerships essential to the development and implementation of the comprehensive investment packages in the rice sector identified in the roadmap.
The various presentations helped to identify and remove barriers to investment by understanding these challenges and formulating workable solutions to overcome them.
The side event was organised around two high-level panels: ECOWAS Policy Frameworks and Sustainable Solutions and Financing Sustainable Rice Innovations, to promote dialogue and collaboration between policy-makers, researchers and practitioners to improve policy implementation and impact.
During the first panel, the Minister of Agriculture and Food Security of Sierra Leone, Dr Henri Musa Kpaka; the Governor of Jigawa State in Nigeria, HE. Malam Umar A. Mamadi and representatives from the Ministries of Agriculture of Ghana, Benin and Senegal shared their experiences in developing the rice sector. The panellists shared best practices, identified opportunities to enhance sustainability, and recommended solutions to policy gaps and innovative approaches.
The second panel focused on "Financing sustainable rice-growing innovations" in order to unlock investment for a resilient rice-growing sector. It brought together financiers, private sector players and development partners. Representatives from the AfDB, JICA, AFEX and the World Bank, moderated by Alain Sy Traore, ECOWAS Director of Agriculture and Rural Development, explored potential interventions and sustainable innovations to improve access to finance for farmers and millers to stimulate the development of the rice value chain, and mechanisms to reduce the risks of investments in the rice value chain. The panellists encouraged the introduction of innovative risk reduction schemes to encourage private sector investment and lending by financial institutions.
Participants gained practical knowledge and proven strategies on successful investment models that can be replicated and adapted in different regions.
The organisation of the side event by ECOWAS and its partners at the Forum on Food Systems in Africa (AFS) 2024, provided a key platform to advance agricultural innovation. The forum brought together world leaders, investors and stakeholders to discuss ways to transform food systems across Africa. The event fostered partnerships, shared practical ideas and made concrete recommendations for achieving rice self-sufficiency in West Africa.
By participating in the AFS 2024 Forum, ECOWAS and its partners have amplified their efforts to transform the rice sector and increased the visibility of the ECOWAS Rice Observatory.
