NewAfricanWoman Issue 35 - Flipbook - Page 24
Business for Africa,
Egypt and the World
A view of the new waterway, from the port city
of Ismaelliya, that is increasing the maritime
capacity of the Suez Canal.
ON THE 20TH AND 21ST
February 2016, all roads will lead to the
Egyptian resort city of Sharm el Sheikh.
Egypt will be hosting Africa 2016, the first
international business and investment forum
of its kind, an Africa to Africa investment
forum aimed at strengthening business ties
The Africa 2016 Forum aims to highlight
the opportunity that is Africa – described as
the world’s ‘last investment frontier’, while
boosting intra-Africa trade and investment
by developing new and strategic public and
private sector alliances.
The organisers expect 1,000 international delegates to attend the Forum. Egypt is
becoming an attractive regional gateway for
international businesses wanting to access
large African markets and for the private
sector looking for growth partners. A number of Egyptian conglomerates have already
invested in Africa, in infrastructure, mining,
telecoms, manufacturing, finance, and many
other important economic sectors.
Egyptian investment banks have also
facilitated investments from the Middle
East into the region. Sitting at the crossroads of Europe, the Gulf, Asia, and Africa,
Egypt is not only focusing on building on
its relationships with its traditional Middle
East neighbours, , but also strengthening its
engagement with partners within Africa.
As Africa’s third-largest economy, Egypt is
looking to partner with like-minded leaders,
industrialists, and financiers in showcasing
the region’s trade, investment and development potential. And it is not just business.
Rapid Growth
The Bretton Woods institutions have forecast
economic growth figures for Egypt of around
4% over the next two years. This growth,
characterised by renewed investments by several multinational companies across various
sectors– from oil (BP has invested in $12bn
in a new project) to beverages (Coca-Cola has
made a commitment to spend $500m in Egypt
within the next three years) and agribusiness,
infrastructure materials and pharmaceuticals,
coupled with the new political dispensation,
clearly demonstrates that Egypt is on the road
of transformational change.
The Tripartite Free Trade Area (TFTA)
deal between the Common Market for East
and Southern Africa; the Southern African
Development Community; and East African Community (COMESA-SADC-EAC),
launched in Sharm el Sheikh in June 2015,
encompasses 26 countries in East and Southern Africa, with a combined population of
600million and a collective GDP approaching
$1.5 trillion.
This agreement, envisaged to lead to the
creation of a “borderless economy” that would
rank 13th in the world in terms of GDP,
presents an important opportunity not only to
harmonise regulations but also to enable deep
integration amongst African economies, with
a focus on boosting intra-African trade and
implementing a number of action plans that
relate to investment, trade, infrastructure,
industrialisation, productive capacity and
trade facilitation.
By hosting the Forum in Sharm el Sheikh,
Egypt aims to show that as a country, despite
recent security concerns, it is open for
business; as a region with better and more efficient trade regime, the Tripartite Free Trade
Area offers huge intra-Africa trade potential;
and most importantly as a continent, Africa is
a viable and profitable investment destination.
The Africa region has the youngest
population in the world and a labour force
estimated at 382 million people. The aim is
to harness this workforce that is expected to
grow to over 500 million by 2020.
With consumer spending already breaking
through the $1 trillion mark and projected
to reach $1.4 trillion by 2020, investors are
seeking the right opportunity with the right
partners. Africa 2016 will bring together such
partners.
The structure and format of the forum has
been specifically designed to provide opportunities to meet face-to-face with high profile
government and business decision-makers.
There will also be unrivalled access to high
level Egyptian policy makers who will be able
to provide first hand insights into opportunities and projects in the country. Investment
promotion agencies from all Africa will also
be showcasing both public and private investment opportunities and projects that are
seeking partners. Africa 2016 will bring such
partners together.
For more information,
please contact:
africa2016@@icpublications.com
To register: www.
businessforafricaforum.com/
registration/private-sectorregistration/