A High‐Value Agriculture‐Based Strategy for Reducing Poverty in Sub‐Saharan Africa

Abstract Abstract The World Bank and IMF emphasize privatization and economic liberalization as a strategy to reduce poverty in developing nations. However, results have been disappointing. This article offers an alternative, in the form of a practical strategy for improving economic growth and reducing poverty in sub‐Saharan Africa that flows directly from an analysis of why Africans remain poor. This strategy aims to raise rural incomes and stimulate aggregate demand and output through the widespread introduction of rainwater harvesting, micro drip irrigation systems, and systems of agricultural cooperatives to cultivate and market high‐value agricultural products. The article concludes that the income generated in the rural sector would be multiplied by increases in income from induced consumption expenditures. The overall impact would be substantial and could greatly improve economic growth rates in sub‐Saharan Africa. The article discusses issues that must be addressed to realize these benefits fully, but concludes that an agriculture‐based poverty‐reduction strategy may potentially be much more effective than orthodox World Bank and IMF strategies.