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Vice President Mahamudu Bawumia at the 14th conference organized by CII-EXIM Bank in India
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The Vice President challenged investors to engage their African counterparts constructively as governments and peoples of the continent prepare to take control of their destiny and take their rightful place in courtesy. nations.
According to Dr. Mahamudu Bawumia, "Africa is on the move; a continent eager to rid itself of past failures due to blind alignments of colonization and the cold war and poor governance.
"The new race to Africa, according to The Economist Magazine, is now led by a new generation of Africans determined to make a difference through technological innovations and business and market development. . "
He added that "the Africa we want can only be built by Africans in partnership with countries and investors who also believe in this paradigm of change".
Vice President Bawumia launched the challenge when he addressed delegates at the 14th CII-EXIM Bank Conference on the India-Africa Partnership, which was held Sunday in New Delhi. , in India.
The three-day Conclave, organized by the Confederation of Indian Industry (CII), in collaboration with the Export-Import (EXIM) Bank of India, on the theme "Partners for Development, Building New synergies ", brings together more than 500 delegates. including 33 ministers and heads of government from 41 African countries.
Over the past 13 years, the CII-EXIM Bank Conclave partnership on the India-Africa project has become a pioneering event allowing Indian and African governments and industry to meet and explore new opportunities. partnership, allowing Indian and African leaders to take stock of the partnership's progress and meet future needs.
Describing a number of areas likely to make investing in Africa attractive, Vice President Bawumia urged participants to "let our conversation about the future go beyond the traditional business and old government-business agenda." ".
"Emerging markets in Africa offer tremendous opportunities for economic growth and prosperity, with more than 1.2 billion people and a combined GDP of 2.24 billion US dollars. It is the second largest and second largest in the world, and by 2050, it will be the most populous continent in the world, with an estimated GDP of $ 29 trillion. The continent is endowed with natural resources that, with the appropriate complementary factors, can be harnessed for accelerated and inclusive economic growth.
"Africa is home to ten of the world's 15 fastest-growing economies and this growth rate is projected to push consumer spending from $ 860 billion in 2008 to over $ 1.3 trillion by 2020," he said. said the Vice President.
The continent's leaders, said Vice President Bawumia, had already taken steps to ease trade on the continent with the African Union's Agenda 2063 statement, long-term vision of the African Union. 39, a continental organization for an integrated and prosperous continent.
"Given the importance of the free movement of goods, services and people from one country to another for socio-economic development, the Single African Air Transport Market (SAATM), a flagship project of the 'Agenda 2063 of the African Union, was launched to create a single market for air transport. transport in Africa. This will allow great freedom of air transport in Africa.
"On March 21, in the Rwandan capital, Kigali, President Akufo-Addo and other African leaders had the pleasure of signing the agreement establishing the African Continental Free Trade Area (AfCFTA) .
"Improved air connectivity, improved intra-African trade, expanded markets through continental economic integration and free movement of people, offer greater business opportunities."
Vice-President Bawumia continued, "It is in this context that I encourage the relevant government officials in Ghana and India to engage in discussions that will open the door to cooperation between businesses and to mutually beneficial partnerships. advantageous. It is a sure way for both parties to explore the economic opportunities that abound in Africa and India. "
Vice President Bawumia, Vice President of CII-Exim Bank, called for constructive and productive dialogue at the 14th CII-Exim Bank Conclave:
"Let's start from here with concrete commitments in business partnerships in key strategic areas. Let us know what we do not do well as governments and what can be done to strengthen business partnerships.
"Together, let's make great efforts to improve the lives of ordinary citizens in India and Africa, so that they also realize that these industry discussions are also beneficial to them in the long run."
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