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Why Contract Farming in Africa Mohammad Karaan Dean AgriSciences University of Stellenbosch. NAMC/FAO Workshop Indaba Hotel Johannesburg May 2009. The Motivations (Theory). Why firms? (Coase) Markets & hierarchies (Williamson) Transaction Costs: Information asymmetry Asset specificity

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Why Contract Farming in Africa Mohammad Karaan Dean AgriSciences University of Stellenbosch


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why contract farming in africa mohammad karaan dean agrisciences university of stellenbosch

Why Contract Farming in AfricaMohammad KaraanDean AgriSciencesUniversity of Stellenbosch

NAMC/FAO Workshop

Indaba Hotel

Johannesburg

May 2009

the motivations theory
The Motivations(Theory)
  • Why firms? (Coase)
  • Markets & hierarchies (Williamson)
  • Transaction Costs:
    • Information asymmetry
    • Asset specificity
    • Opportunism
    • Bounded rationality
the motivations practice
The Motivations(Practice)
  • Growth in global markets
  • Africa nett importer of processed goods
  • Diminishing share of world exports
  • Much potential for value addition
  • Latent resources
  • Underinvestment in agribusiness
  • Growth in chains
  • Efficiency of scale
examples
Examples
  • Sugar
  • Cotton
  • Grains
  • Dairy
  • Flowers
  • Seeds
  • Oilseeds
  • Poultry
  • Aquaculture
  • Hydroponics
challenges
Challenges
  • Asymmetry
  • Trust
  • Opportunism
  • Enforcement
  • Asset specificity (infrastructure)
  • Incomplete contracts
  • Embeddedness
  • Induced innovations
a development agenda
A development agenda
  • Incentives to engage
  • Safety nets
  • Incubators
  • PPP in investments
  • Integration