At present, the reliance of many African nations on imported fertilisers, particularly those not based on phosphates, leaves them vulnerable to international market fluctuations and pricing instability. Despite African nations currently producing around 30 million metric tons of mineral fertiliser annually, a substantial portion is exported beyond the continent’s borders. During the summit, the African leaders vowed to utilize the African Continental Free Trade Area (AfCFTA) to amplify intra-African fertiliser trade twofold by 2034. Chiumya underscored that while the AfCFTA and other supportive policies are instrumental in promoting fertiliser trade within Africa, the pressing matter of infrastructure remains. Moreover, there has been a marked increase in local mineral fertiliser production, fueled by private sector investments surpassing $15bn, as detailed in the declaration.

Source: Daily News Egypt May 11, 2024 17:20 UTC