He said small agricultural processing industries need an enabling environment to grow and compete both locally and internationally at this time while food production is becoming a challenge.
Ndugai also noted that lack of financial services in rural areas has been a great setback to development for a long time. "Small scale producers need good environment for growth and support to enable them reach the desired international standards" he said, adding that training is very important on this.
Speaking while officiating at the public lecture on Futures of food provisions organised by the Institute of Finance Management (IFM) in collaboration with the Netherland based University of Groningen, the Speaker called on IFM to providing training on businesses skills in the agriculture sector .
He also noted that investment in agricultural research is important in identifying new technologies that are useful in dealing with effects of climate change. According to the speaker more resources should be channeled to agricultural research in order to help small scale farmers cope with climate change.
Ndugai who later officiated the launching of Bachelor of Science in Economics and Finance(BEF), a new course introduced by IFM and is scheduled to start in the 2019/2020, thanked the institution for coming up with such good courses that meet the current demand.
"I congratulate IFM and wish you all the best on the move to start courses that suit the modern needs which I know will be a hot cake in the country" he said.
Earlier, while presenting the topic of 'future food provisions', Prof Jan Willem Velthuizen of the University of Groningen, noted that with the increasing population of people globally, food production remains one of the great challenges.
He argued that by 2030 the world population will be 8.3 billion people but the challenge is how to get more 50 percent of energy, 40 percent more water and 35 percent more food.
The professor highlighted five megatrends that shape the future of businesses, consumers and governments in the agri-food industry as urbanisation, resources, demography, technology and economy.
"Demographically, the number of young people in developing countries is rising very fast as on urbanization, growth of cities is at two speeds" he said, adding that seven of the fastest growing economies in the world are in Africa.
He added that the agri-food industry climate is flux and it is unclear how it will evolve.