8-9TH DECEMBER 2018, SHARM EL SHEIKH, EGYPT

Transcription

1 Business for Africa and the World UN D E R THE HIGH PATR ONAGE O F H.E. Abdel Fattah Al Sisi, President of the Arab Republic of Egypt 8-9TH DECEMBER 2018, SHARM EL SHEIKH, EGYPT

2 CONCEPT NOTE The signing by 44 countries of the Continental Free Trade Area (AfCFTA) was arguably the biggest continental event that took place this year. Intra-African trade will grow by 52% by 2022 compared with 2010 trade levels if tariffs are fully eliminated to allow the complete movement of goods, people and capital. Africa s total trade deficit will be halved. W ith a fiscal space tight, however, the biggest driver for this will be the private sector. The continental free trade area will have to be much more than policy if it is to be realised. It will require businesses to collaborate for the creation of regional and global champions. It will also require governments work with business to create regional hubs and clusters combining energy, logistics and industry. As international credit lines contract the case for domestic resource mobilisation becomes more compelling. This will involve greater leverage of pension funds and reserves to invest in infrastructure and unlock the potential of youth through investment in education and health. Africa 2018 calls for bold leadership to realise the promise of the AfCFTA through greater cross-border investments and collaboration. This is Africa s biggest forum bringing together private sector and business leaders with policy makers and heads of government to shape the continent s future. W ith rapid demographic change and tectonic shifts in the economic world order, governments and private sector need to work even closer together to adapt to this changing environment and deliver on the promise of the continent. Businesses must increasingly help shape policy and take the lead to increase cross-regional investment and intra-african trade. This year s Forum is held against a backdrop of the growth in commodity prices and rising economic growth. It is also a time, however, when international capital is drying up due to regulatory constraints on banks. According to UNCTAD, official FDI flows fell by 16% in Nevertheless the continent s long-term growth prospects create exciting opportunities for investors seeking yield and diversification. Difficult reforms are starting to yield dividends in a number of countries and it is the opportune time, with a rise in protectionism elsewhere, for Africa to have its own Africa Strategy. Reforms and an uptick in economic growth, albeit small, has also brought with it renewed optimism in a number of countries. At the centre of this year s programme will be empowering women and youth. As with last year, the Young Entrepreneurs Day (YED) will be a platform to inspire and connect emerging leaders and entrepreneurs with leading investors. Alongside the YED, there will be a programme dedicated to issues relating to leveraging womens economic potential. This will be reflected in a series of workshops and panel discussions bringing together young women who are driving change with inspirational women leaders from the business world. We are emboldened by developments across Africa. In the past two years alone more than 130 new tech hubs have opened. Google opened its first AI research lab in Accra with plans to open more across Africa. GE s African garages are some of its most successful innovation labs in the world. Airbus signed an agreement earlier this year with the government of Côte d Ivoire to develop the aerospace industry in the country. As Egypt prepares to chair the African Union in 2019, Africa 2018 provides a unique opportunity for leaders to engage and chart the continent s investment roadmap while also creating a platform for captains of industry to meet and accelerate investment across key strategic sectors.

3 DRIVERS OF THE FORUM The Forum is driven by three pillars, designed to strengthen intra-africa collaboration and to take a more strategic, continental approach to private sector investment. THESE ARE: Regional economic hubs Africa is undoubtedly the world s richest continent, home to 60 % of the planet s available arable land. DRC supplies the world with 65% of current usage of cobalt, a metal that is used in lithium-ion batteries, an essential component of mobile phones and electric cars. Morocco holds more than 72% of global phosphate reserves. The list goes on. To truly deliver on her promise the continent will need to work more closely to develop regional hubs combining energy, industry and logistics. Drawing on the different countries and regions comparative advantages, Africa needs to work more strategically to create clusters that increase its global competitiveness. Domestic resource mobilisation It s estimated that central banks alone sit on half a trillion dollars of reserves yielding close to zero per cent returns. There has been much talk to date of using reserves sitting in central banks and pension funds for critical areas like infrastructure. The private sector is the driver in mobilising resources for major projects, such as the AFC merger with Harith in the energy sector. Pooling resources together will enable the private sector to take bolder risks and invest in transformational projects. Cross border collaboration Over the past decade, we have seen the rise of African champions in a number of industries from Dangote in cement to MTN in mobile telephony. However FDI between African countries has remained small compared to other regions. We need to encourage our national champions to work more closely together and collaborate. Only then will the continent be able to truly capture the profit of the African opportunity and reinvest it into its own markets.

4 About Africa 2018 The annual gathering is an international, landmark event hosted under the High Patronage of H.E. Abdel Fattah Al Sisi, President of the Arab Republic of Egypt, aiming to promote greater economic integration and greater investment into Africa. This year s edition, Africa 2018, will take place from the 8-10 of December 2018 in Sharm El Sheikh, Egypt, and is organised by the Government of Egypt through the Ministry of Investment and International Cooperation and COMESA Regional Investment Agency. Africa 2018 is a unique business-to-business and government-to-business platform, bringing together policy makers, financiers, leading industrialists and young entrepreneurs. This year s Forum will focus on developing intra-african commerce and the aspiration to create the world s largest trading bloc of 1.2bn people. The programme will feature keynote speakers, interactive panel discussions, expert presentations and B2B engagement opportunities. There will also be a special round table where leading business and public sector decision-makers can discuss the critical issues related to finance and investment. The three-day Forum promises to convene more than 1,000 leaders in business and policy from across Africa and the world. The role of youth in unlocking the economic potential of Africa will be reflected in the programme including opportunities for young entrepreneurs to learn and link with seasoned investors. Advancing women s economic empowerment will be the feature of a special day and will be reflected in special features in the programme. The 2018 edition builds on the success of Africa 2017, attended by 5 African heads of state, over 3500 delegates from 45 countries. The forum featured some of the biggest names from business and over 500 of Africa s emerging leaders and entrepreneurs took part in the YED, which included a Deal Room that connected projects and business owners to investors. Various MOUs and investment promises across multiple sectors were also signed. The three-day Forum promises to convene more than 1,000 leaders in business and policy from across Africa and the world.

5 WHAT TO LOOK FORWARD TO Women Empowering Africa 2018 In many cases, colonisation was ended over 50 years ago. However the liberalisation of the continent has not resulted in the liberalisation of women and their role in society. By mobilising established and emerging women leaders from across the continent, the WEA has been structured to get women to own the African agenda and devise ways for them to play a more prominent role in charting their success, and consequently Africa s. It will also be a platform for young and talented women to showcase their achievements and meet some of the leading personalities from business and government and help them enhance their careers. The outcomes of the day s deliberations and the call for action will then be presented to the Leaders Forum during the Presidential Summit. A platform for women to exchange knowledge, experiences and success stories Hear from the leading female entrepreneurs and business leaders in Africa Connect female entrepreneurs with mentors as well as investors Recognition and awards for outstanding female change-makers in the business, government and civil society A celebration of the creative industry bringing to the fore women talent Young Entrepreneurs Day The role of youth in driving Africa s transformation across all sectors will be reflected in the programme that will feature opportunities for young entrepreneurs to participate in business masterclasses and connecting them with investors and VC funds. They will also have a unique opportunity to learn and link with seasoned investors drawn from across the continent and beyond. Connect with a range of African and international investors Engage with over leading financiers, industrialists, policy-makers, and project owners from Africa and around the globe Capture practical advice and insight from business masterclasses Identify new business and partnership opportunities Network and exchange knowledge with young entrepreneurs from across Africa