- According to the Namibia representative at the GBF Africa 2021 Namibia is looking to build a dynamic economic structure focused on specific industries and 97 products.
- The secretary general of COMESA H.E Chileshe Kapwepwe, says the Zambian government is working effortlessly to increase focus on creating strong business enabling environments that will attract foreign investments their top most agenda.
- All three speakers confirmed the need to build solid infrastructure across the African
continent, stressing that it was the backbone of today’s economies.
Africa’s potential as a growth market for business remains both underestimated and misunderstood as does the potential for business to play a transformative role in solving the continent’s biggest challenges a reason enough why business leaders who attended GBF Africa 2021 drawn from different nations came together to spend a considerable time sharing knowledge on rapid changes in the business world and their implications for the future of the workforce.
These leaders who represented Zambia, Namibia, and Ethiopia got the platform to air their views on variety of ways that could trigger inflows of foreign investment, fill market gaps and expand infrastructure in their respective countries.
In a panel session dubbed New Alliances, New Horizons, at the Global Business Forum Africa 2021 the business leaders who included H.E Chileshe Kapwepwe, Secretary-General, Common Market for Eastern and Southern Africa (COMESA), Zambia; Admassu Tadesse, President & Chief Executive Officer, Eastern and Southern African Trade and Development Bank (TDB), Ethiopia; and Nangula Nelulu Uaandja, Chairperson & Chief Executive Officer, Namibia Investment Promotion and Development Board (NIPDB), Namibia, discussed new ways to enhance African economies.
According to the secretary general of COMESA H.E Chileshe Kapwepwe, the Zambian government is working effortlessly to increase focus on creating strong business enabling environments that will attract foreign investments their top most agenda.
He further says that the Zambians believe in building strategic partnerships with key players in the African markets, hence can build new opportunities to attract more foreign investors.
“Partnerships can help us transfer raw materials into finished goods, creating added value to the economy and enabling the Zambian business sector to trade its goods worldwide,” said H.E Chileshe Kapwepwe.
Zambia is one of the many developing countries that has embraced a Business Enabling environment as a means to achieving sustainable private sector development and poverty reduction.
In the wake of covid-19 early last year that brought to a halt many business operations, businesses around the world considered how they can return from the torment inflicted by the coronavirus, Africa continent journey from failure to triumph provides food for thought.
Resilience, resolve, return, reimagination and reform have been critical for business leaders to find their way to the next new normal and Admassu Tadesse the President & Chief Executive Officer, Eastern and Southern African Trade and Development Bank (TDB), in Ethiopia says due to this businesses have witnessed an enormous investment in sustainable finance, green bonds, and Covid bonds. Additionally, a huge boost to the health care sector, the bank is currently financing five hospitals compared to one in 2018. Covid-19 was indeed a wake-up call for us and led us to invest more in healthcare institutions.
“On the other hand, we have invested heavily in building the telecommunication infrastructure in Africa. We are currently financing fibre-optic cable projects that will provide a stable connection and help e-commerce grow. We believe that Africa has huge promising opportunities, and a bright future is waiting for us,” said Admassu Tadesse.
The Chairperson & Chief Executive Officer, Namibia Investment Promotion and Development Board (NIPDB), who was also in the panel discussion said that his country was concerned more in cementing structure that is more diversified and dynamic focused on specific industries and 97 products.
Additionally he says given their strategic positions where the country is surrounded by three landlocked countries, it gives them a unique opportunity to be the commerce gate for three promising African markets.
“We believe that infrastructure has a vital role in attracting investments. Hence, we are working on several logistic projects that will enhance our position geoeconomically; building rails, ports, and airports are a priority for our economic plan,” Nangula Nelulu Uaandja said.
Collectively the three business leaders from different nations affirmed the need to have a working and sustainable infrastructure as this was pivotal to country’s economies.
READ: Why Namibia Is Establishing Itself As An International Oil And Gas Player
Building strategic partnerships is another key focus of public and private sector stakeholders across the continent as they look to unlock new trade and investment opportunities.
An African industrial revolution is underway as manufacturers ramp up production of everything from processed food to automobiles
The speakers asserted that the African leaders should take control of the African public narrative, argumentative of the present Africa which is known for its resource abundance in both agriculture and mineral resources. To date, though, Africa has struggled to translate these resources into shared wealth and sustained economic development. New innovations and investments promise to change that picture and create exciting growth opportunities for business if country’s come together in echo of Nangula Nelulu Uaandja words that two is great than one.
Held under the patronage of H.H Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Dubai Chamber is organising GBF Africa 2021 – the sixth edition in the series – under the theme Transformation Through Trade. The two-day event is being hosted in partnership with Expo 2020 Dubai.
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