Over 1,000 delegates expected during the three-day forum to discuss and collaborate on African trade and investment
Cairo, August 1, 2017 – The Ministry of Investment and International Cooperation of Egypt and COMESA Regional Investment Agency announced today the holding of Africa 2017, a high-level forum offering participants an unparalleled platform for promoting trade and investment within Africa. The Forum will be held under the High Patronage of H.E. President Abdel Fattah El-Sisi, President of the Arab Republic of Egypt on 7-9 December 2017, in Sharm El Sheikh, Egypt.
The three-day conference will convene high-level delegations of leaders in business and policy from across Africa and worldwide, including heads of state and some of the most important CEOs of the continent.
Africa 2017 will kick-off with a Young Entrepreneurs Day (YED) that will bring together emerging entrepreneurs with more established ones, in addition to mentors, start-up hubs, angel investors and venture capital firms, to share ideas, network and help drive further the business ideas of tomorrow. The Africa 2017 YED has partnered with top-notch incubators, entrepreneurship programmes and VC funds. Egypt is known across Africa and the Middle East to have developed pro-innovation ecosystems where emerging entrepreneurs have been able to flourish.
In 2015, Egypt hosted the Tripartite Summit where a free trade agreement was signed, bringing together three regional economic communities, SADC, EAC and COMESA, effectively creating, with its 26 Member States, the largest trading block on the continent. This ‘borderless economy’ would rank as 15th in the world in terms of GDP.
Speaking on the Forum, H.E. Dr. Sahar Nasr, Egypt’s Minister of Investment and International Cooperation, reiterated the African opportunity based on business-minded reforms taking place across the continent: “The Forum has the objective of promoting investments into our continent, and especially cross-border investments. In Egypt, we have undertaken an ambitious economic reform programme, of which a key ingredient is improving the business environment and overall country competitiveness. Such efforts go hand-in-hand with our commitment to serve as a strategic gateway for Africa and the world.”
As part of the Forum, Egypt will be showcasing its flagship mega-projects including the construction of a new capital city 45km outside of Cairo, and a number of industrial and special economic zone projects along the Suez Canal, among others.
This Forum reinforces Egypt’s commitment to support and enhance the economic and cultural integration of Africa and to spur investment into what is still one of the fastest growing regions in the world.
Commenting on the sustained investor confidence with regards to Africa and the Forum, Heba Salama, COMESA Regional Investment Agency Director, says that “Africa, and in particular the COMESA Region, continues to offer some of the best returns on investment in the world. Africa 2017 will be an unparalleled occasion to gather the architects of Africa’s future and drive further the transformative investment projects of tomorrow”.
The Forum is by invitation only. Interested parties can apply for an invitation through the event websitewww.businessforafricaforum.com.
ENDS
For more information on Africa 2017, please contact info@businessforafricaforum.com
MEDIA CONTACTS
CAIRO: Mahmoud Mahgoub (mmahgoub@comesaria.org)
LONDON: Ishara Callan (i.callan@icpublications.com)
Dr. Nasr: “The political leadership is keen on achieving effective cooperation between African countries through the conference … Egypt emphasizes its African role through hosting the largest investment platform in Africa”.
Heba Salama: “Africa 2017 would be a platform for introducing further investment projects in the Continent”.
Under the auspices of President Abdel Fattah El-Sisi, MIIC will organize the “Africa 2017” Conference entitled “Business for Africa, Egypt and the World” during the period from 7 to 9 December 2017 in Sharm El-Sheikh, in presence of heads of states, governments and ministries from various African countries as well as representatives of Egypt’s development partners and high-level figures in the business field from Egypt, Africa and worldwide with a view to promote investments for inclusive growth.
Dr. Nasr emphasized that the Egyptian political leadership was keen on achieving effective cooperation between African countries and on achieving sustainable development, which would positively affect the African people’s lives through cooperation in attracting investments. She added that the 2017 conference built on the success of the inaugural Africa 2016 held under the patronage of the President and in his presence, where six African heads of state and more than 1,400 delegates participated, and where over 300 one-to-one meetings took place.
The Minister pointed out that Africa 2017 was a unique platform, bringing together policy makers, financiers, African investors, and the world countries to promote investments in strategic sectors. Egypt was positioned to be a gateway for investors in Africa and the Conference would contribute to supporting and promoting investment between the world and Africa through Egypt.
According to Dr. Nasr, Egypt emphasized its African role through hosting the “Africa 2017” Conference, one of the largest investment platforms in Africa to present the available investment opportunities. This, as stated by the Minister, would contribute to making use of its natural resources and establishing major projects based on such resources, thereby raising standards of living and eliminating the problems of poverty and immigration.
Further, the Minister clarified that the Conference would include the convention of sessions for national projects and available investment opportunities in Egypt as well as the entrepreneurs’ forum and rapid-growth companies in Africa. This is in addition to holding sessions for entrepreneurs to become familiarized with the challenges facing start-ups, including financing, opening new markets, enhancing leadership skills and providing investors with ideas. The Conference will also provide the opportunity to build a partnership between entrepreneurs, companies and participating financial institutions.
Moreover, the Minister mentioned that the Conference would also include several general sessions for discussing vital issues, among of which are private economic zones, cities and urban development, renewable energy, power generation and distribution, long-term investment, reforms of the business environment, cross-border trade and investment among African countries, available investment opportunities in Africa, and success stories of African women working in the field of business and investment.
Several sectors of strategic importance would also be covered, including agriculture, infrastructure, and energy as well as the technology-supporting society.
On her part, Director of COMESA Regional Investment Agency Ms. Heba Salama stated “Egypt, particularly the COMESA area, is still providing the best investment returns worldwide”. “Africa 2017 will be a platform for introducing further investment projects in the Continent,” she added.
Egyptian President Abdel Fattah Al Sisi reiterated his intent on bringing Africa closer together at Africa 2017 Forum, both politically and economically. The Forum wraps up with a focus on China-Africa cooperation
Sharm El Sheikh: The Africa 2017 Forum wrapped up in the Egyptian resort city of Sharm el Sheikh with a clear message of intent from President Al Sisi to bring Africa closer together.
President Abdel Fattah El Sisi hosted five African heads of state and top business leaders from across the continent. The Heads of State stressed on the need for self-reliance and domestic resource mobilisation. The event offered business owners with an opportunity to meet investors, engage with political leaders and policy makers and explore new ideas to improve business environment across the continent.
In two private roundtables held on the sidelines of the event that the President held alongside other African heads of state and business leaders from Egypt and the rest of the continent, it was said that Al Sisi would do whatever he could to bring the continent together, both politically and economically.
The Forum had a strong focus on increasing intra-Africa trade, inclusive growth and stronger China-Africa cooperation, especially in terms of technology transfer.
During the event, Egypt also has signed a deal with the World Bank for a USD $1.15 billion development policy loan to fund the government’s plan to boost economy. It is the last one in a series of three annual loans provided from 2015 to 2017 totalling USD 3.15 billion . The deal supports the Egyptian economic reform program aimed at creating jobs, ensuring energy security, strengthening public finances and enhancing business competitiveness.
The final day of the Forum focused on industrial revolution for Africa and China-Africa economic relations. It was agreed that China-Africa relationship was a win-win one. Ambassador Helen Hai, CEO, Made in Africa initiative, China, said China had a clear strategy for Africa but the continent needs to be in the driving seat when it comes to discussions about the China-Africa relationship. She said the relationship was moving on from resources to partnerships with African countries but they needed to be clear about what they wanted from China. She said 85 million jobs were likely to be exported from China in the next few years as labour costs increased in that country and Africa was well placed to attract them. “If Africa can capture those jobs they can enjoy the same economic transformation China had.”
However, Carlos Lopes, Former Executive Secretary, UNECA, and Professor, Graduate School of Development Policy and Practice, University of Cape Town, Guinea-Bissau, said it was not inevitable that the jobs would migrate to Africa.
He warned that many jobs that could move out of China could be replaced by robots and automation, not Africans, and that other regions would also compete for the kind of jobs that Africa seeks – those at the lower end of the value chain. “A few African countries will make it, but not all,” he said.
“This huge move to get jobs can be elusive if we are not fast enough in creating opportunities. The window is closing very fast. We need to move quickly and do so in a way that is commensurate with the interests of China’s strategy.”
The three-day event , organised by Egypt’s Ministry of Investment and International Cooperation and the COMESA Regional Investment Agency (RIA), saw over 2,000 delegates from 75 countries attend the Forum. Minister of Investment and International Cooperation Sahar Nasr said that the forum’s sessions offered a chance to exchange expertise and showcase investment opportunities in Egypt and Africa.
The conference has put forward five recommendations:
1- Pumping new investments in Africa to boost economic growth and development
2- The establishment of joint projects, particularly in infrastructure, to support investment and trade among African states.
3- Enhancing the role of the African private sector to increase investment rates in the continent.
4- The execution of programs that encourage entrepreneurship and the adoption of programs that would increase youth’s participation in the African economy.
5- Empowering women in all fields of economic activity, considering them as active members in the process of developing Africa and achieving economic stability.
LA PORTA DELL’AFRICA NERA………
MAROCCO
IL DESERTO,LE DUNE,LE CITTA’ incantate ,IL MARE…..
Il magreb E L’ARTE ARABA,cioè IL MAROCCO)
- Gran Tour del Marocco,Tour di gruppo/individuali e Week end in Marrakesh,Sistemazione in Hotels & RIad 2 pax
- Tour delle 1000 kasbah
- Capodanno nel deserto del Marocco
Soggiorni mare Agadir,Essaouira,Oualidia……(le Antille del Marocco)
- LUXORY & ESCLUSIVE : “TOUR VIP”LA ROTTA DEL SUD “ ALL INCLUSIVE CON DRIVER E MAGGIORDOMO
L’ex stella del Milan sconfigge il vice presidente Joseph Bokai. L’avvicendamento con la presidentessa Sirleaf avverrà il 22 gennaio.
