Africa-Press – Rwanda. <\/strong><\/span>African government leaders should convert their commitments into concrete actions and put their countries on the path to economic development, experts have said.<\/p>\nThe call was made on Thursday, May 16, as business and political leaders discussed the conditions necessary for reducing Africa\u2019s dependency on the rest of the world at the official opening of the 2024 Africa CEO Forum, underway in Kigali.<\/p>\n
Hosted under the theme; At the table or on the menu; A critical moment to shape a new future for Africa, the forum, in its 11th edition attracted over 2,000 participants including Heads of State, leaders of international organizations, captains of industry, and investors,among others.<\/p>\n
\u201cWhen preparing for this edition, we had a private sector that was worried about three issues,\u201d said Amir Ben Yahmed, the CEO of Jeune Afrique Media Group, the organizers of the forum.<\/p>\n
\u201cOur unity, when 30 per cent of our countries are embroiled in some kind of covert or open confrontation. Our attractiveness. Five years after it came into being, a crucial transformative project like the AfCFTA is showing little signs of progress,\u201d he added.<\/p>\n
Yahmed also highlighted that CEOs were concerned about the continuing deterioration of macroeconomic situation which, for the first time in 25 years, has led to an increase poverty on the continent.<\/p>\n
A solid governance system and strong support for private-sector investments should be the golden vision, Yahmed observed.<\/p>\n
He shared similar sentiments with Makthar Diop, the Managing Director of the International Finance Corporation (IFC), who challenged that the forum is an opportune moment to rethink Africa\u2019s role on the global stage.<\/p>\n
\u201cIt is not just about being present. It is about supporting the continent\u2019s strengths to help drive the global agenda,\u201d he said.<\/p>\n
Delegates during the official opening of the 2024 Africa CEO Forum on Thursday, May 16. Village Urugwiro<\/p>\n
Although Africa had registered good growth over the years before the pandemic hit, the continent is still mired in a myriad of challenges, some of which threaten to reverse gains made decades later.<\/p>\n
Tawfik Hammoud, Chief Client Officer and Chair at BCG, maintained that most of the world\u2019s challenges will find solutions in Africa.<\/p>\n
For instance, he said, the critical minerals for decarbonization, the green energy potential, the agricultural produce, and the 2.5 billion consumers by 2050 as well as the human capital present the continent\u2019s potential.<\/p>\n
\u201cThat’s where the world\u2019s solutions are,\u201d he noted, adding that that is how you know that you are on the table.<\/p>\n
According to Hammoud, equally alarming is the fragmentation of the world today, which he insisted that it was an opportunity for Africa to expand its business and political allies.<\/p>\n
\u201cWe have never had so much freedom to choose who we do business with,\u201d he added. \u201cWe are in the midst of a great geopolitical and macroeconomic reset. So you as leaders have a great role to play to set a bold course of action.\u201d<\/p>\n
At the table or on the menu?<\/p>\n
For Rwanda\u2019s Minister of State in charge of Public Investment and Resource mobilization at the Ministry of Finance, Jeanine Munyeshuli, Africa is the fastest-growing middle class and population in the world.<\/p>\n
\u201cThe growth potential is remarkable,\u201d she said.<\/p>\n
With the African Union (AU) joining the G20, there is a chance that the continent\u2019s voice can be heard, Munyeshuli reiterated.<\/p>\n
\u201cBut maybe I feel that it is also high time that we reframe some quotations. Fine, we are at that table, but is it time to celebrate? How influential will our voices not stand together and have one voice?\u201d she wondered.<\/p>\n
\u201cSecond, it is good news that we are invited at the table with the global powers, but is it time we set our own table and invite our partners?\u201d she added.<\/p>\n
Dr. Sidi Ould Tah, president of the Arab Bank for Economic Development in Africa (BADEA) echoed similar sentiments.<\/p>\n
\u201cWhen you look back ten years, some may believe that nothing has changed. But when you travel in Africa, and meet the youth, the captains of industry, we see a tremendous change and that creates hope for the future and for the voice of Africa to be heard in the right place and the right table.\u201d<\/p>\n
\u201cToday if you look a the role played by some pioneers, captains of industries but also some financial institutions, we see the development of specialized economic zones to process our product in Africa and add value while creating jobs for the local communities.\u201d<\/p>\n
Panelists also discussed making greater use of fiscal resources,<\/p>\n
\u201cWe need to go beyond rhetoric and implement concrete actions, with the participation of governments, businesses and the wider society. We also need to change our mindset and be open, not stay in a single region of Africa, create large markets and create opportunities,\u201d suggested Aigboje Aig-Imoukhuede, Chairman of Access Holdings.<\/p>\n
Source: The New Times<\/b><\/p>\n
For More News And Analysis About Rwanda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Edwin Ashimwe Africa-Press – Rwanda. African government leaders should convert their commitments into concrete actions and put their countries on the path to economic development, experts have said. The call was made on Thursday, May 16, as business and political leaders discussed the conditions necessary for reducing Africa\u2019s dependency on the rest of the world […]<\/p>\n","protected":false},"author":84,"featured_media":73261,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,761],"tags":[760,763,758],"class_list":["post-73262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","tag-africa-press","tag-africa-press-rwanda","tag-rwanda"],"yoast_head":"\n
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