The Global Africa Business Initiative (GABI) is a private sector-led platform for accelerating Africa's business, trade, and investment opportunities, with a focus on benefiting Africa and the world. Under the leadership of the United Nations Deputy Secretary-General Amina J. Mohammed, GABI aims to turn investment opportunities across the African continent and its diaspora into prosperous transactions.
The 2nd GABI Forum in 2023 tagged "Unstoppable Africa", was hosted by the United Nations Global Compact, in collaboration with the African Union (AU) and GABI's UN partner agencies, namely Economic Commission for Africa (ECA), International Trade Centre (ITC), International Telecommunication Union (ITU), Office of the Special Adviser on Africa (OSAA), Sustainable Energy for All (SEforALL) and the United Nations Development Programme (UNDP) Africa.
The opening session featured remarks from principals of the United Nations and the African Union, emphasizing Africa's unstoppable progress. United Nations Secretary-General, Antonio Guterres, emphasized the immense opportunities in Africa.
"Unleashing Africa’s great potential is the great opportunity of our age!"
Antonio Guterres, United Nations Secretary-General
H.E. Moussa Faki Mahamat – Chairperson of the African Union Commission – called for reforms in the global system as it relates to development financing.
H.E. Moussa Faki also pushed for bolder private sector participation with expanded potential to create and innovate, and he stressed the importance of youth and young entrepreneurs embracing agriculture for food sustainability.
"The Global Africa Business Initiative is designed to accelerate the promotion of business, trade and investment opportunities on the Continent."
H.E. Moussa Faki Mahamat, African Union Commission (AUC) Chairperson
The United Nations Deputy Secretary-General, Amina J. Mohammed, highlighted the formation of the Global Africa Business Initiative (GABI) as a platform to ensure that Africa's voice and aspirations can be heard across the world.
The UN Deputy Secretary-General expatiated on the aim of GABI as being a platform for advancing business, trade, and investment opportunities in Africa and around the world.
Through dialogue among a broad spectrum of stakeholders on the thematic areas which are Energy Access and Energy Transition, Inclusive Growth and Trade, and Digital Transformation, GABI’s commitment to engaging diverse actors in Africa's economic development was evident by the fact that more than 3,000 participants joined in-person and online.
Private sector icons, such as Brad Smith, President of Microsoft, James Quincy, CEO of The Coca-Cola Company, and business leaders such as Dr. James Mwangi, Group Managing Director & CEO of Equity Group Holdings; Folorunso Alakija, Group Managing Director of The Rose of Sharon Group; H.E. Hon. Mohamed Abou El-Enein, Chairman and Founder of Cleopatra Group; Tshepo Mahloele, Chief Executive Officer, Harith General Partners; Selim Bora, President of Summa Group, Sanjeev Gupta, Executive Director & Head, Financial Services, African Finance Corporation; Caroline Wanga, President & CEO, Essence Ventures; Co-Founder of WangaWoman LLC and Dr. Mo Ibrahim, Founder and Chair, The Mo Ibrahim Foundation all highlighted the pivotal role of businesses in shaping Africa's economic landscape.
The contribution of leaders from global financial institutions, creative and sports industries, and non-profits emphasized GABI's holistic approach which ensures that stakeholders with diverse backgrounds and expertise contribute to inclusive and sustainable business, trade, and investment opportunities on the continent.
High-level Government officials, including the Honourable Mia Mottley, Prime Minister of Barbados, H.E. Mokgweetsi Masis, President of Botswana, H.E. Felix Tshisekedi, President of the Democratic Republic of Congo, H.E. Nana Akufo-Addo, President of Ghana, H.E. Dr. William Ruto, President of Kenya, H.E. Andrzej Sebastian Duda, President of Poland and H.E. Macky Sall, President of Senegal, gave insights on the critical role of political leadership in driving change.
At the GABI Gala dinner which was hosted on the sidelines of the Unstoppable Africa convening, the Mayor of New York City, Eric Adams, extended a warm welcome to guests and attendees, underscoring the significant contributions of the diaspora to Africa's sustained development.
"Unless we master the logistics of trade with respect to air transport and sea transport, we are not going to be able to move goods and people easily" - The Honourable Mia Mottley, Prime Minister of Barbados
"Africa is the youngest and fastest-growing continent in the world, with unparalleled potentials for business and opportunities for economic growth" - H.E. (Dr.) Mokgweetsi Masisi, President of Botswana
"We are in partnership to develop the electric battery value chain in the Democratic Republic of the Congo and also in Zambia. And we have set up an African Center of Excellence to enable young Africans to learn and conduct research on battery innovation" - H.E. Felix Tshisekedi, President of the Democratic Republic of Congo
"Nous sommes en partenariat pour développer la chaîne de valeur des batteries électriques en République démocratique du Congo et également en Zambie. Et nous avons créé un Centre d'excellence africain pour permettre aux jeunes Africains d'apprendre et de mener des recherches sur l'innovation des batteries" - S.E. Félix Tshisekedi, Président de la République Démocratique du Congo
"The Ghana Energy Transition and Investment Plan has my full support and we are determined to implement it" - H.E. Nana Addo Dankwa Akufo-Addo, President of Ghana
"What is standing between Africa and our opportunities is investment capital and that is what we are looking for" - H.E. (Dr.) William Ruto, President of Kenya
"Trade, investments, education, and development of agriculture are very important for me and I see great opportunities in these areas" - H.E. Andrzej Sebastian Duda, President of Poland
INITIATIVES LAUNCHED AT GABI
Democratic Republic of Congo (DRC) and the EV Industry: DRC, recognizing the growing importance of electric vehicles and batteries, made strides to establish a prominent position in these value chains. They introduced a 1,000-hectare space in Kolwezi with special economic zone status, signaling their intent to become a significant player. DRC also extended a call to global investors to collaborate on addressing climate change and fostering economic growth.
Ghana's Ambitious Energy Transition: Ghana committed to an ambitious objective of achieving net-zero emissions and generating 400,000 jobs by 2060. To realize this vision, they unveiled a USD 550 billion Energy Transition and Investment Plan, aiming to lead the way in sustainable energy and job creation.
AfDB and Google's Collaboration for Tech Education: The African Development Bank (AfDB) joined forces with Google to establish a Center of Excellence for coding in Africa. This initiative not only represents a significant step towards enhancing digital literacy but also holds the potential to empower African youth and foster innovation.
Empowering Women through ITC SheTrades: The International Trade Center (ITC) extended an invitation to businesses to join the SheTrades network, a program dedicated to promoting women's economic empowerment. This initiative has already impacted the lives of over 200,000 women entrepreneurs since its inception in 2015.
UNDP Timbuktoo Announcement: UNDP announced its bold and ambitious private-public sector joint initiative, timbuktoo, aimed at transforming Africa through a new African venture financing model that recognizes the power of investing in ecosystems.
PANELISTS AND SESSIONS OVERVIEW
The participation of the United Nations Secretary-General and global leaders like Dr. Ngozi Okonjo-Iweala, Director-General of the World Trade Organization, Dr. Tedros Adhanom Ghebreyesus, Director-General of the World Health Organization, Dr. Akinwumi Adesina, President of the African Development Bank and Prof. Benedict Oramah, President of the Africa Export-Import (Afrexim) Bank underscored the active role of international organizations in Africa's development.
SOME PANEL SESSION SHOTS
SHARE OF YOUTH VOICE
Catalyzing Youth emerged as a central theme, with discussions acknowledging the resilience of young political leaders and women in the face of challenges. Calls for reshaping traditional education models, providing access to funding for young entrepreneurs, and promoting youth engagement with the African Union underscored a commitment to empowering the next generation.
SDGs CAPTURED IN CONVERSATIONS
TOPIC AREAS COVERED
TRACKING KEY DISCUSSIONS
SGDs COVERED IN THEMATIC AREAS
ENERGY ACCESS AND ENERGY TRANSITIONS
In this session, discussions underscored the importance of diversified supply chains and collaborative efforts in the energy transition and echoed Africa's competitive advantage in critical minerals, signaling transformative commitments like Ghana's net-zero emissions plan and the DRC's focus on batteries and electric vehicles.
INCLUSIVE GROWTH AND TRADE
This session delved into strategies to propel Africa into economic growth, emphasizing the role of long-term investments and dispelling monolithic perceptions of the continent and promoting long-term investments. The African Continental Free Trade Area (AfCFTA) took center stage, highlighting the importance of coordinated efforts, an enabling environment for sustainable investments, and the need to tap into the diaspora for development.
DIGITAL TRANSFORMATION
The strategic use of data for Africa's digital transformation was a key thematic focus in this Session. Private sector leaders highlighted the need for foundational infrastructure like electricity to unlock the full potential of technology on the continent. Discussions focused on balanced regulation, collaboration between governments and businesses, and leveraging technology for informed decisions underscored a concerted effort to propel Africa into the digital age. Strategic initiatives, such as the African Development Bank's partnership with Google to establish a coding center, exemplified a transformative approach toward harnessing the potential of Africa's youth for innovation and economic progress.
GABI VIDEO HIGHLIGHTS
At the end of the two-day forum, Sanda Ojiambo, Assistant Secretary-General & CEO of United Nations Global Compact, expressed gratitude to those contributing to GABI's success, recognizing the vital roles of various teams, thought partners, and the African Union.
The Deputy Secretary-General, Amina J. Mohammed, delivered a closing message that celebrated Africa's resilience, innovation, and potential. She emphasized the importance of optimism, empowerment, and GABI's role in promoting Africa's progress and global influence.
"We don't want this to stop in New York, we want to go back to Africa and of course, the networks across the world" - Amina J. Mohammed, UN Deputy Secretary-General
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THANK YOU FOR YOUR ENGAGEMENT AND SUPPORT
#UnstoppableAfrica
GABI is a solution-oriented global platform connecting leaders to drive and invest in the unstoppable opportunity of Africa’s economic growth.
- For more information and interest in partnering with the Global Africa Business Initiative (GABI), contact gabi@unglobalcompact.org
- Read more about GABI by visiting our website
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