Boosting business opp-ortunities in Africa was the focus of the New York Forum Africa, hosted in Libreville, Gabon from 8-10 June.
Some 600 experts from the worlds of finance and industry, as well as top entrepreneurs and political decision-makers, gathered to propose actions to resolve some of the major problems the continent’s economy is facing.
After years of instability in Africa, the forum heard that the change towards growth is approaching, with the usual call for aid being overtaken by the invitation to investment.
“Of course Africa has some difficulties in some countries, but it is now experiencing economic growth. It can become the land of development and growth for companies,” said Richard Attias, chairman and founder of the forum.
Efforts in this direction seem to be bearing fruit, he suggested, while noting that it is already reckoned six of the 10 fastest growing economies in the world are in Africa.
Attias urged the forum to keep a close eye on Ghana, Niger and Ethiopia, where democratic transition has taken place along with the engagement of new leaders in economic development.
However, he underlined that this “winning” strategy is not enough, and that there is the need for a reinvention of the old business models.
“With the rate of growth from five to six per cent, there is a room for improvement, which will benefit the political landscape and the leadership,” added Shantayanan Devarajan, chief economist for the Africa region at the World Bank.
Suggestions and propositions drawn from the forum will be passed on to the next G20 summit in Mexico at the end of June, in what organisers said was an effort to ensure a practical result, as well as to gain more visibility for Africa on the global stage.
