Held in the North African nation of Egypt in the city of Sharm el sheikh, like other imperative sittings on the continent, the 2018 Africa Summit among other important issues underlined that mutual cooperation between African countries was a milestone in realizing the many dreams of African leaders to spur visible, concrete and positive transformation on the African continent.
The two-day (December 8-9) Africa 2018 Forum, backed by incumbent president Abdel Fattah Al-Sisi opened on Saturday, attracting high level personalities ranging from African presidents and vibrant business magnates(entrepreneurs) from across the globe. The Egyptian Ministry of Investment and International Cooperation, and the COMESA’s Regional Investment Agency (RIA) were the main organizers of concluded forum.
PRESIDENT AL-SISI REITERATES ON THE NEED FOR COOPERATION
Speaking in his capacity as the president of Egypt and the host of the 2018 Africa Forum, president Al-sisi underscored the need for regional integration, an upliftment in commercial activities and creating a better atmosphere for real investment on the continent both at national and international levels. Sharing Egypt Success story so far, the president noted that Cairo’s investments in Africa have witnessed an increase, citing $1.2bn as the 2018 record, bringing the total amount to $10.2bn
AREAS OF INTEREST
During the third edition of the Africa Forum, participants discussed a whole range of issues of great importance to the development of Africa. In other words, the forum was centered on how to stimulate growth and development on the continent. Areas such as energy, logistics, infrastructure, finance, domestic resource mobilisation, and urbanization were given top priority during the forum.
Asserting the role of African youths and women in pushing development on the continent, stakeholders used this forum to discuss on harnessing the potentials of African youths and ways to involve African women in the political sphere and also on decision making bodies in Africa. The place of an African woman in nation building cannot be undermined. The prospects of a ‘’ Young Entrepreneur Day’’ is underway. In all, this summit presented a better platform for business persons to meet and exchange good business ideas and create new partnership as far as trade is concerned
The Africa 2018 Forum brought together participants from Africa and the world at large. Some of them included Presidents of Rwanda Paul Kagame, Togo’s Faure Gnassingbé, Emmerson Mnangagwa of Zimbabwe, Mahamadou Issoufou of Niger, host leader Abdel Fattah Al-Sisi among others. It also attracted the business personnel from all over the globe, daughter of Angola’s ex-president Dos Santos and Africa’s richest Lady Isabel dos Santos, Algeria’s richest man Issad Rebrab, Malagasy mogul Ylias Akbaraly and Nigerian cement magnate Abdulsamad Rabiu just to name a few. In fact, some 3,000 African entrepreneurs and 200 start-up businesses were also represented.
DEALS REACHED AT THE FORUM
Some very important deals were signed by partner nations during the first day of Africa 2018 Forum. These deals included;
- The government of Egypt and Italy inked a €45m deal to support the Egyptian private sector.
- A deal worth EGP 2.28bn was signed with the aim of opening four seawater desalination plants in the south of Sinai.
- A series of investment agreements were also signed between the Suez Canal Economic Zone with local and global investors, to support start-up projects in Ain Sokhna and Port Said.
It is no doubt that Africa is a continent that is richly blessed and filled with many opportunities, however , much still needs to be done to take the continent to the top as far as technology, industrialization among other things are concerned. Notwithstanding, Egypt’s Minister of Investment Sahar Nasr applauded African countries that recently adopted economic reform programs which affected Africa’s growth rates that stood at 3.5 percent in 2018, in spite of global challenges. Africa remains at the verge of witnessing real transformation, if they can materialize these reforms and their development projects, then the continent will see an increase in Investment both local and international, bring Africa to the top position.
AFRIC Editorial Article.