The central theme, “Promoting sustained and Inclusive Economic Growth and Sustainable Development”, highlighted the importance of including the Private sector in Africa’s economic transformation and sustainable development goals. (Facebook pictures below)
“It is indeed heart-warming to see Africa is certainly on the rise, and this attracting a lot of attention from the rest of the world, with its enhanced peace, stability and rapid economic growth, natural resource endowment and a growing middle class” Said H.E. Dr. Debretsion Gebremichael, Deputy Prime Minister for Finance and Economic Cluster and Minister of Communication and Information Technology of The Federal Democratic Republic of Ethiopia. His Excellency also emphasized on the fact that Africa is hosting most of the world’s fastest growing economies with a widespread development of critical social and physical infrastructure and an increasing pool well educated and multilingual labor, creating the perfect environment for Foreign Direct Investment.
As the Commissioner for Economic Affairs at the AU, H.E. Dr. Anthony Mothae Maruping also clearly stated in his opening speech; “forums like this are vital for increasing trade between African and the rest of world and in promoting the fundamental values that I believe are crucial for all involved economies to fulfill their potential. “This is true especially in these global economic difficulties whereby, exploring and capitalizing on the networks and relationships at our disposal in this globalized, competitive world will help us all to promote prosperity, stability and security.”
The process of democratization undertaken by most African governments and improvements in the business environment is spurring exponential growth in the African economy. In trade and investment in particular, the African Union is finalizing its 2015-2019 Medium-Term Strategy that puts the private sector at the forefront of a job creating, vibrant and competitive engine of growth that harnesses the current African demographic dividend.
H.E. Anthony Mothae Maruping mentioned Agriculture, Tourism, ICT, Infrastructure, Consumer Goods and Mining as promising opportunities in terms of Return on Investment but also as areas that contribute to addressing Africa’s challenges of inequality and unemployment.
It is therefore imperative to render the innovation, technical expertise, and investment of the private sector as critical for reaching the minimum growth rate of 7% per year over several years, needed for an inclusive and sustainable.
“We have every reason to be optimistic that African renaissance is indeed around the corner. We are determined to achieve our aspirations for a peaceful, prosperous and integrated Africa by bringing about structural transformation” said H.E Dr. Debretsion Gebremichael before thanking the co-organizers for this first event of many to come, and closing his speech.
For Andalem, AIF was the ideal platform to network with the stakeholders of African growth including African states, non-African partners, Public/Private/Social sectors and to discuss how to improve investments and raise the profile of doing business in Africa.
For more information about the event please visit the website.