The Role of Agriculture in African Countries as a Direction of Economy Diversification

The purpose of the chapter is to determine the current role of agriculture in African countries as a direction of economy diversification. The research is conducted in three consecutive stages. At the first stage, correlation and regression analysis is used for determining the advantages that are obtained by countries of Africa from the development of agriculture. The second stage includes compilation of the map of agriculture in African countries in 2018 with their classification as to the level of obtaining the determined advantages. At the third stage, the components of conditions for the functioning and development of agriculture in African countries (by the example of Zambia in 2018) and perspectives of implementation of the potential of agriculture in the diversification of economies of African countries are determined. The research objects are all countries of Africa for which the necessary statistical data are available. It is substantiated that in 2019 agriculture plays an insignificant role in the diversification of economy in African countries. The share of agriculture in the structure of GDP had small influence (or negative influence) on the level of development of “green” economy, unemployment level, export of goods and services, and growth rate of GDP in constant prices during the 2008 crisis (economy’s sustainability to external crises). The most vivid positive influence is made by the development of agriculture in African countries on the provision of their food security. It is shown that the perspectives of strengthening of the role and increase of significance of agriculture for the economies of African countries are connected to overcoming of the barriers on the path of development of agriculture for increasing the level of food security. This envisages the increase of accessibility of financing for agrarian entrepreneurship in African countries.