World leaders from business, government, finance, sports, and the creative arts convened in New York for the third annual 鈥淯nstoppable Africa鈥� event, on the margins of the 缅北禁地General Assembly, and 听renewed commitments to spur business on the continent.
The GABI event also served as a platform for announcing significant partnerships, awards, and initiatives aimed at shaping Africa's future. These include the following:
- Mine Tech Hub Contribution:听President Hakainde Hichilema of Zambia announced a significant contribution to the Mine Tech Hub, which aims to promote technological innovation in the mining sector, ensuring sustainable and inclusive growth.
- Timbuktoo Initiative:听Philemon Yang, President of the 缅北禁地General Assembly, expressed his strong support for the Timbuktoo Initiative, a global effort led by UNDP Africa focused on youth empowerment, digitalization, and sustainable development.
- Infrastructure Collaboration:听Turkish construction company SUMMA and TAV Airports announced a collaboration to enhance infrastructure development and investment opportunities in Africa. Selim Bora, Chairman of SUMMA, said: 鈥樷�榃e believe in the transformative power of infrastructure to shape the future of Africa. For over a decade, we have proudly partnered with nations across the continent creating opportunities for economic growth, job creation, and improved quality of life.
- NBA Africa:听Clare Akamanzi, CEO of NBA Africa, presented the NBA Africa Startup Accelerator award to Festival Coins, a Nigerian tech company known for its Tix Africa platform, which simplifies event registration and ticketing in Nigeria and Ghana. This initiative aims to support Africa鈥檚 tech ecosystem by providing mentorship and funding to emerging entrepreneurs.
- Food Systems: GABI signed a $250,000 partnership with PepsiCo to mobilize the private sector in Africa to transform food systems. The partnership will coincide with key milestones, including a GABI Bridge at the 缅北禁地Global Compact Annual Local Network Forum in South Africa in 2025 and the Food Systems Summit.
- Education: A planned partnership with the听Global Partnership for Education (GPE)听will focus on transforming Africa鈥檚 education systems. This collaboration will build on the outcomes of the 2022听Transforming Education Summit听and begin with a side event hosted by GPE during Convene in 2025.
- A Digital Future for Africa: A major highlight was the launch of Itana, Africa鈥檚 first Digital Free Zone. This initiative enables global technology, finance, and service businesses to operate seamlessly in Nigeria and scale across Africa, entirely online. Itana offers attractive incentives, including tax breaks, streamlined immigration processes, and tailored banking solutions, along with a live-in accelerator program and live-work districts that showcase the future of African urban development.
The two-day Global Africa Business Initiative (GABI) flagship event sought to drum up support for Africa鈥檚 business opportunities and innovations, under the theme 鈥淯nstoppable Africa: Shaping Global Ambitions for Agenda 2063鈥�.
Organized by the 缅北禁地Global Compact鈥檚 Global Africa Business Initiative (GABI) it markets the continent as the premier destination for business, trade, and investment, and is co-hosted by 缅北禁地Deputy Secretary-General Amina J. Mohammed and African Union Chairperson Moussa Faki Mahamat.
Among the notable attendees this year included the President of Poland, Andrzej Duda; the Global Head of Public Sector Banking, Citi - Julie Monaco; Prof. Benedict Oramah, the President of the African Export-Import Bank (Afreximbank); as well as Mr. Makhtar Diop, the Managing Director of the International Finance Corporation (IFC).
Also in attendance were Ms. Cristina Duarte, the 缅北禁地Special Adviser on Africa; Mr. Wamkele Mene - Secretary-General of the AfCFTA Secretariat; Dr. Akinwumi A. Adesina - President of the African Development Bank Group; Dr. Ngozi Okonjo-Iweala, the Director-General of WTO.
This year the summit emphasized inclusive participation and solution-driven solutions, culminating in a final roundtable where stakeholders committed to tackling pressing challenges. Key topics included unlocking inclusive trade growth, Africa's role in clean energy, digital advancements, and the global impact of African creativity and sports.
In his keynote video address, UN听 Secretary-General Antonio Guterres emphasized the importance of strengthening partnerships to drive progress in Africa and globally.
鈥淎chieving an unstoppable Africa requires collective, unstoppable efforts to foster development in areas like renewable energy, food systems, education, and digital transformation," said Mr. Guterres, while calling听 for meaningful reforms in the global financial architecture to ensure that all countries receive the necessary support, while promoting job creation and economic growth through initiatives such as the African Continental Free Trade Area (AfCFTA).
AU chair Moussa Faki Mahamat highlighted Africa's rich cultural diversity and the resilience of its people.
"Africa's story is one of determination, progress, and hope. Our strength lies not only in our resources but in our people鈥攎others, fathers, sons, and daughters鈥攚ho tirelessly work to build a better future," he said.
缅北禁地Deputy Secretary-General Amina J. Mohammed stressed the critical role of Africa's private sector in driving impactful change, emphasizing that with the right investments and partnerships, Africa is poised for transformative growth.
缅北禁地Assistant Secretary-General and CEO 缅北禁地Global Compact, Ms. Sanda Ojiambo, commended the Africa Business Leaders Coalition for its leadership, noting a nearly 25% reduction in carbon footprints among participating businesses since launching a climate statement at COP27.
Business leaders Mr. Aliko Dangote, Founder and CEO of Dangote Group; Dr. James Mwangi CEO Equity Group Holdings; Mr. Peter Ndegwa CEO, Safaricom; Mr. Alex Okosi, Managing Director Africa, Google; also attended.
WNBA All-Star and ESPN host, Chiney Ogwumike;听 and Chido Mpemba, AU Special Envoy on Youth.
Insightful discussions
A panel on closing Africa鈥檚 climate finance gap revealed that the continent receives less than 5% of global climate funding despite its renewable energy potential. Another panel explored the rising significance of Africa鈥檚 cultural and creative industries, highlighting their role in economic growth and reshaping narratives.
The discussion on the digital economy included insights from leaders like Rwanda鈥檚 ICT Minister, Paula Ingabire, and Safaricom鈥檚 CEO, Peter Ndegwa, who emphasized the necessity for strategic financing and inclusive policies.
Additionally, a session on the African fashion sector showcased the industry's growth potential, with a focus on female designers dedicated to establishing a competitive presence in the global market.
The 2024 GABI event concluded with optimism and a shared commitment to harness Africa鈥檚 potential for global leadership. With concrete plans and partnerships now established, the initiative is poised to continue its momentum toward a future where Africa leads on the global stage.
