Africa Urged to Harness Global Trade Disruptions as a ‘Historic Opportunity’
African leaders have called on the continent’s private sector to take the lead in driving structural transformation, stressing that global trade disruptions should be seen as a historic opportunity to strengthen local economies.
Speaking at the opening of the 13th CGECI Academy in Abidjan, Côte d’Ivoire’s Prime Minister Robert Mambé and African Development Bank Group President Dr Sidi Ould Tah urged businesses to embrace the moment with urgency and innovation.
“The time for self-analysis is over; it’s now time for action,” Prime Minister Mambé told delegates. He emphasised that economic sovereignty could only be achieved through coordinated action by governments, private investors, entrepreneurs, and consumers.
Dr Ould Tah echoed these sentiments, urging African businesses to seize the chance to build resilient regional value chains and increase local processing of raw materials. “For Africa, this is not a threat; it is a historic opportunity to establish a stronger, more integrated and more resilient local economy,” he said.
Outlining his four-pillar strategy for Africa’s development, the AfDB President highlighted the mobilisation of large-scale capital, reform of Africa’s financial architecture, creation of quality jobs, and the building of climate-resilient infrastructure through green industrialisation.
The CGECI Academy, organised under the theme “Economic sovereignty: Time for Action”, brought together senior officials, business leaders and employers’ organisations. CGECI President Ahmed Cissé pledged the private sector’s support, citing ongoing collaboration with the AfDB to promote youth entrepreneurship, including initiatives that have mobilised over €1 million for start-ups since 2016.
