London's business community is at the forefront, encouraging French-speaking countries to trade with the UK. The area will open its doors this week with a trade and investment forum on October 19 and 20. The event is organized by one of Tony Blair's think tanks, the Tony Blair Institute.
Investors know that sub-Saharan Africa has significant growth, where businesses will expand and prosper over the next ten years. Its potential is great and the middle class is a growing portion of its consumer base. As a result, the UK is now using economic diplomacy in a region that was not previously the focus of its efforts.
Markets in Africa are active. To satisfy a booming youth, they all share the same imperative: generate great socioeconomic advantages and jobs. Achieving such results quickly while adjusting their economy to the restructuring of global supply networks and the energy transition is a challenge for most African heads of state.
However, Africa has clear competitive advantages in several important industries, the skills gap is closing and decision-making has improved due to technological advances and stronger leadership. African governments are now better positioned to capitalize on their markets and resources, well known to investors as lucrative.
For almost ten years I collaborated closely with leaders and businessmen from the south of the Sahara. I fully understood their efforts to establish supportive policy frameworks, deal with institutional failures, and attract strategic investments to foster inclusive growth.
Togo, the first African nation to have its health passport recognized by the European Union, has initiated innovative projects in the field of culture, the hospitality industry and real estate to build on the advances made in recent years and address health. Crisis linked to Covid-19.
Senegal's healthcare system is also undergoing significant improvement (“smart” healthcare and production of world-class medicines). A vibrant environment, successful public and private collaborations, and an exceptional talent pool have contributed to these advancements.
In terms of global value chain integration, Côte d'Ivoire also has big goals, but it also gives local companies every opportunity to succeed. The government has taken significant steps to revive its textile industry, emphasizing sustainability and traceability, thanks to access to high-quality cotton, logistics infrastructure, proximity to markets and changing tastes of global consumers.
Similarly, Gabon and the Democratic Republic of the Congo are increasingly using the capacity of their tropical forests to absorb carbon and their exceptional biodiversity to participate in international conversations on climate change. This situation will be seen at COP27, which will take place in Egypt in November. This summit should give Africans a better voice and provide them with more equitable economic opportunities.
The banking industry in Burkina Faso's Sahel region is thriving despite security challenges. For its part, Niger is boldly betting on agri-food processing and renewable energy sources. These actions show how much African leaders want to focus on industrialization, which is the main source of prosperity.
To change lives and significantly reduce inequalities, the private sector must invest and innovate in several vital industries, including energy and agribusiness. Governments, companies and multilateral organizations are already building integrated energy clusters that meet international standards across the region, increasing access to electricity in rural areas through smart off-grid solutions and changing chains. thanks to designated processing zones.
It is a pleasure to see Francophone Africa showcasing its resources and potential to the London investment community. Senior politicians and corporate executives will no doubt take advantage of this momentum to assist in the socio-economic change of this rapidly developing area.
This strategy makes sound business sense and represents an important step towards achieving global poverty reduction and sustainable development. It also has the potential to reduce the dangers associated with political instability and forced migration phenomena. Nothing can advance developing nations more than healthy competition in bilateral economic relations.
Fountain : JeuneAfrique