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An Action Plan to
ACCELERATE Global
Business and
Investment in
AFRICA Launched:
Un plan d’action global visant à accélérer les activités et les investissements mondiaux dans Afrique a été dévoilé à travers un Livre blanc lancé le 17 janvier 2024.
The initiative, a collaborative effort between the Forum économique mondial et les amis de la African Continental Free Trade Area (AfCFTA), outlines a visionary plan encompassing goals, initiatives, and commitments from industry leaders across four priority sectors: automotive, agriculture and agro-processing, pharmaceuticals, and transport et logistics. These sectors collectively boast a substantial worth of $130 billion.
The dynamic changes occurring in Africa are increasingly driven by regional integration, further propelled by the ZLEC — an initiative representing a single market for 1.7 billion people and an estimated $6.7 trillion in consumer and business spending by the year 2030. The full implementation of the ZLEC agreement is anticipated to result in a 7% increase in real incomes, equivalent to nearly $450 billion.
The action plan highlights various projects, including the mobilization of financing to enhance infrastructure within the transport and logistics sector, the advancement and adoption of green technologies in the automotive sector, initiatives to localize more components of the agriculture value chain within the continent, and commitments from pharmaceutical companies spanning workforce, innovation, finance, policy, et inclusivity.
Collectively, these ambitious commitments from prominent companies operating in Africa send a strong signal to potential investors, indicating that investing in Africa holds the promise of a future characterized by boundless innovation and inclusive prosperity for the continent.
Download Paper: https://www.weforum.org/publications/an-action-plan-to-accelerate-global-business-and-investment-in-africa/
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