United Nations Deputy Secretary-General听Amina J. Mohammed听closed the inaugural Global Africa Business Initiative (GABI) conference this week, calling on partners in government, industry, and philanthropy to contribute toward a vision of sustainable, equitable growth; and to accelerate business opportunities on the African continent.
"The solidarity we're looking for in the world will come home to roost, and it will be in Africa. Right now, the leadership and the solutions are coming from the continent," said Ms. Mohammed.
Under the headline Unstoppable Africa, the two-day GABI launch event brought together business, non-profit, political, media and cultural leaders to create a new growth roadmap and realize the immense, untapped business and investment opportunities offered by the $2.5 trillion African market.
鈥淲e must unleash the potential of young people and there is no better way than through entrepreneurship. Entrepreneurship creates jobs using the power of innovation, creativity, and technology,鈥� said听President Paul Kagame of Rwanda听in video remarks.
Across more than 40 panels and speeches, thought leaders addressed challenges and opportunities facing African economic development across politics, trade and finance, medicine, fashion, sports, non-profits, arts, and music. Speakers identified technological innovation as a source of recent and potential future growth in sectors ranging from telecom to medicine to finance, noting that the relative lack of existing tech infrastructure is actually an opportunity, making possible a more efficient transition into newer, more modern systems.听
Thought leaders and investors explored strategies for unlocking the continent鈥檚 financial sector. Discussions included the announcement of the听$1 Billion African Women Impact Fund, launched with a听听by Standard Bank Group. Sport and culture were also a focus, emphasizing that Africa is home to several vibrant, rapidly growing centers of athletic, entertainment, and creative economic output 鈥� with rapidly growing audiences and consumers to match.
Thought leaders and investors explored strategies for unlocking the continent鈥檚 financial sector. Discussions included the announcement of the听$1 Billion African Women Impact Fund, launched with a听听by Standard Bank Group. Sport and culture were also a focus, emphasizing that Africa is home to several vibrant, rapidly growing centers of athletic, entertainment, and creative economic output 鈥� with rapidly growing audiences and consumers to match.
Organized by the UN Global Compact in partnership with the African Union, UNDP Africa, the UN Economic Commission for Africa and the UN Office of the Special Advisor on Africa, the Global Africa Business Initiative is supported by Afreximbank, Google, Rockefeller Foundation and Mastercard Foundation. Speakers included UN Secretary General听Ant贸nio Guterres;听Vera Songwe, former Executive Secretary of the UN Economic Commission for Africa;听H.E. Moussa Faki Mahamat, Chairperson, African Union Commission;听H.E. Paul Kagame, President of the Republic of Rwanda;听Eric Adams, Mayor of New York City;听Strive Masiyiwa, businessman and philanthropist;听Benedict Oramah, President and Chairman, Afreximbank;听Sanda Ojiambo, Assistant Secretary-General and CEO, UN Global Compact;听Adam Silver, CEO of the National Basketball Association;听Bela Bajaria, Head of Global TV Netflix;听Masai Ujiri, Vice Chair and President of the Toronto Raptors;听Robert Smith, Vista Equity Partners;听Melinda Gates, The Bill & Melinda Gates Foundation;听Darren Walker, President of the Ford Foundation;听Ang茅lique Kidjo, Grammy Award-winning musician and activist;听Omoyemi Akerele, Founder, Style House Files and Lagos Fashion Week;听Julie Gichuru, Mastercard Foundation;听Ruth Porat, Chief Financial Officer of Alphabet and Google;听Dr. Rajiv Shah, President, Rockefeller Foundation;听Antha N. Williams, Bloomberg Philanthropies;听Lindeka Dzedze, Executive Head of Institutional Clients, Standard Bank Group; and Dr.听Senait Fisseha, Director of Global Programs at Susan Thompson Buffett Foundation.
"Africa is unstoppable. Africa is an essential part of global business and a major investment destination. Africa includes some of the world's fastest growing economies. And Africa has more 鈥斕齧uch more 鈥斕齮o offer,鈥� said UN Secretary-General Guterres Ant贸nio Guterres in opening remarks which can be听read in full here.听
In the coming months, GABI and the UN Global Compact will continue to provide opportunities for leaders to consider the forward direction of Africa鈥檚 growth.
