Five presidents are expected to attend the upcoming Africa CEO Forum 2024 which will discuss the role of the private sector in driving the continent’s development and its positioning on the global scene.
Slated for May 16 and 17 in Kigali, the forum’s 11th edition will bring together 2,000 business executives, investors, and policymakers from Africa and beyond under the theme “At the Table or On the Menu? A Critical Moment to Shape a New Future for Africa.”
The focus of discussions will be on digital technology, integration and free trade, strengthening Africa’s finance and agribusiness sectors, investment climate, and supporting Africa’s women entrepreneurs, among others.
The participating Heads of State include President Paul Kagame, President William Ruto of Kenya, President Mokgweetsi Masisi of Botswana, President Filipe Nyusi of Mozambique, President Ismail Omar Guelleh of Djibouti, and Prime Minister of Côte d’Ivoire, Robert Beugré Mambé, among others.
Nelly Mukazayire, Deputy CEO of Rwanda Development Board, noted that the conference presents an opportunity to discuss matters of Africa’s development concern and measures that will foster the intended direction.
“There is no talking of development and changing livelihoods without robust and intentional policies that advance trade and investment on our continent,” she said.
According to UNCTAD, intra-African trade is currently only 14.4 percent of Africa’s total exports. Mukazayire said that this can be harnessed by the African Continental Free Trade Agreement by 33 percent and narrow the trade deficit by 51 percent.
She added that it is important to evaluate whether the decisions made by leaders align with that aspiration and unlock finances to maximize the available potential across sectors, as well as technological adoption and regional integration.
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Amir Ben Yahmed, Founder of Africa CEO Forum and President of Jeune Afrique Media Group, highlighted that the forum seeks to amplify private sector’s voice and role in economic development of African countries and create effective partnerships with governments.
“Very often, the private sector is a little bit timid in voicing its problems because they operate in an economy where there are government interactions and become reluctant to confront their problems,” he said.
Yahmed explained that it is the responsibility of the private sector to proactively and assertively point out the need for best public policies aligned with what is being done in emerging markets.
Mary Porter Peschka, Regional Director for Eastern Africa, IFC, said that the forum will allow the strengthening of partnerships and building a knowledge base for the socioeconomic development on the continent.
“African economies are at a crucial juncture. We live in a time when Artificial Intelligence and other technologies are rapidly changing all sectors. The effects of climate change are global concern, but Africa is especially vulnerable,” she said.
However, Africa being the world’s fastest-growing continent with a population expected to double by 2030, she noted that the opportunities are enormous and so are the challenges.
“We see the Africa CEO Forum as a great platform to discuss and develop some of the solutions.”
