Nigerian Bourse Sustains Bullish Momentum, Up 1.5% | Independent Nigeria

Lagos – President Abdel Fattah Al Sisi would today (Thursday) host six African Heads of State including Prof. Yem Osinbajo, Nigeria’s Vice president at the Africa 2017 Forum that would take place at the picturesque beach resort of Sharm El Sheikh, Egypt.

The President of Guinea, current chair of the African Union (AU), would be joining the forum as well as the Presidents of Chad, Rwanda, Côte d’Ivoire, Comoros, and Somalia.

This business and investment forum, whose theme is: ‘Driving investment for inclusive growth,’ has been convened to increase intra-African investments and cross-border collaboration.

Egypt in 2015 hosted the signing of the tripartite agreement between the three regional economic communities; SADC, COMESA and the EAC, and the Forum has been designed for African business leaders to play a greater role by investing in opportunities throughout the continent.

The first edition of the Forum took place in February 2016. This year the programme has been enhanced to include two exclusive Presidential Roundtables, where these business leaders would openly discuss policy with the African presidents present to help create a more conducive business environment, in addition to immense investment and business opportunities available in the continent.

Youth and entrepreneurs would also play a prominent role. Over 50 of the continent’s brightest and most promising entrepreneurs had been invited to showcase their businesses and would be presenting them to investors.

The forum is being organised by the Ministry of Investment and International Cooperation of Egypt and the COMESA Regional Investment Agency (RIA).

Speaking ahead of the Forum, Dr. Sahar Nasr, Minister of Investment and International Cooperation of Egypt stressed the importance of greater intra-Africa collaboration: “Intra-Africa trade is a valuable component of Africa’s and Egypt’s economic growth strategy,” she said.

“For Egypt’s growth strategy, Intra-Africa trade remains a valuable component. Despite European and North American markets dominating Egypt’s trade activities, we have proximity to African markets as well as trade agreements with African nations.

“The markets where Egypt has seen an increase in its trade include North Africa, specifically Morocco, East Africa, specifically Kenya, South Africa and Sudan,” she said.

Heba Salama, Head of RIA, highlighted the responsibility of the private sector to devise innovative solutions.

“The private sector can play an important role in filling in the US $93bn infrastructure gap. Manufacturing is another important sector where private sector support is needed.

“McKinsey Global Institute estimates that Africa could double its manufacturing output in 10 years, which could ultimately create between 6 million and 14 million stable jobs and boost African GDP growth,” he added.

The forum would commence on December 7 and runs through December 9, 2017.

Source
Business – Independent Nigeria




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