from DION HENRICK in Cape Town, South Africa
CAPE TOWN, (CAJ News) – INCREASED demand for sugar is paving the way for the expansion of the industry in Africa.
This is according to a report by the Oxford Business Group (OBG), a global research and advisory company.
The industry is primed for growth on the back of anticipated increased consumption across the continent and higher levels of output in sub-Saharan Africa.
“Regional demand for sugar is expected to rise in the coming years, driven up by Africa’s population growth and drawing a line under declines triggered by the Covid-19 pandemic,” said Karine Loehman, OBG’s Managing Director for Africa.
“With sub-Saharan Africa’s per capita sugar consumption currently standing at around half of the global average, the opportunities to help meet increasing domestic need by boosting production are considerable.”
Titled “Sugar in Africa”, the report highlights the opportunities for investors to contribute to the industry’s development by helping bridge infrastructure gaps in segments such as farming and refining and port facilities.
It considers the benefits that the African Continental Free Trade Area (AfCFTA) could deliver by supporting fair intra-African sugar trade efforts and bringing regulatory frameworks under a common umbrella, which will be key to improving competitiveness.
– CAJ News