16th U.S-Africa business summit: TGI Group advocates sustainable agricultural development

U.S-Africa business summit

The TGI Group has reiterated its commitment to sustainable agricultural development to boost the sector in the country. The company gave the assurance at the 16th U.S.-Africa Business Summit, attended by over 1,500 public and private sector executives from across continents, where it emphasised its strategic collaborations for sustainable success in various sectors, including agriculture.

The Executive Director and Executive Vice Chairman (Africa) of TGI Group, Farouk Gumel, who participated as a panelist during a session themed: ‘From Food Insecurity to Thriving Agribusinesses: The Case for a U.S. Africa Strategic Agribusiness Partnership,’ emphasised the firm’s comprehensive approach, and company’s involvement in the entire value chain, from the seed to the final consumer.

“At TGI, we engage in every aspect of the value chain, from seed multiplication to the dining table. This is because we adopt a problem-solving approach to our business model.”

He stressed the firm’s dedication to understanding local communities and cultural nuances, ensuring shared prosperity and sustainability. “While we are involved in seeds, fertilisers and crop protection inputs, we do not engage in land ownership. We adopt a community-centric approach, recognising cultural sensitivities in rural areas.

“When partnering with communities, we provide inputs, while they undertake cultivation. Upon harvest, they have the option to sell to us or others, ensuring a mutually beneficial relationship. Even if they choose to sell to the open market, albeit rarely, we will still get it from the local aggregator,” Gumel explained.

In another panel session themed: ‘Future of U.S – Africa and Trade Investment: AGOA and beyond,’ Gumel further called for an upgrade of the African Growth and Opportunity Act (AGOA) and fairness in free trade in Africa.

He said: “Since the AGOA legislation was renewed almost a decade ago, the dynamics of global trade has changed. The uniqueness of no duty in exporting to the U.S no longer exist because other big players like China, India and the U.A.E. have come into Africa offering the same benefits if not better than what we get from AGOA. To upgrade AGOA, there is a need to see what the other players are doing to make export seamless.”

In addition to its advocacy efforts, TGI Group has actively implemented initiatives aimed at driving sustainable development across Africa. Notable among these is the Argungu Outgrower Expansion Programme, collaboration with the USAID-funded West Africa Trade and Investment Hub, aimed at boosting rice production in Nigeria.