Africa’s economy is projected to grow at 3.8% in 2024 and 4.2% in 2025 despite challenges, outpacing the global average of 2.9% and 3.2%, the Global Africa Business Initiative (GABI) has said.
GABI was launched in New York in September 2022, and it has highlighted the growth trajectory and business opportunities within all sectors of African economies.
The projection is coming as the organization announced its line up and programme for its annual two-day event on the margins of the UN General Assembly in New York.
Taking place on 25 -26 September, this year’s forum entitled, “Unstoppable Africa: The Solution for a Global Future”, will bring together influential leaders from the public and private sectors to advance Africa’s role in shaping global business solutions.
Unstoppable Africa will be hosted by Folly Bah Thibault from Aljazeera English and Larry Madowo from CNN and is supported by African Union, Afreximbank, BUA, Flour Mills Nigeria, Google, Rockefeller Foundation, Safaricom, and Summa Group, among others.
According to a statement made available to the media, this year, event will take place alongside the Summit of the Future, a landmark convening of the UN General Assembly.
“Central to this event is the recent strategic partnership between the United Nations Global Compact (UNGC) and the African Union Commission, which focuses on leveraging Africa’s business potential to drive sustainable development.
“This partnership aims to advance Agenda 2063 and the 17 Sustainable Development Goals (2030 Agenda for Sustainable Development)”, the statement added.
In addition, it will not only highlight Africa’s economic resilience and vast potential but will also be a platform for presenting novel and practical solutions to some of the most urgent global challenges.
From addressing energy transitions and ensuring access to sustainable power, to advancing digital transformation across sectors and promoting inclusive growth, Unstoppable Africa will position the continent as a leader in the global pursuit of a more equitable and sustainable future.
Unstoppable Africa
Sanda Ojiambo, Assistant Secretary-General, and CEO of the UN Global Compact, which
convenes GABI, said with a market valued at over $3 trillion, Africa is poised for unprecedented growth and development.
“GABI was born from a powerful realization: the world has been doing business in Africa, but not always with Africa. We stand to rebalance that equation. GABI isn’t just another forum; we are a solution-oriented platform dedicated to shaping Africa’s business future,” she said.
“Our mission is clear: Convene, Connect, Catalyze, and Convey. We convene stakeholders to address Africa’s unique challenges, connect Africa’s private sector with global partners, catalyze sustainable growth through collaboration, and convey support for initiatives that deliver real results.
“Unstoppable Africa will bring together Africa’s brightest minds and global leaders to collaborate on sustainable solutions. When Africa wins, the world wins. Africa is ready to lead, and GABI is where Africa meets the world’s political, business, and philanthropic leaders,” she said.
The thematic focus of this year’s event as it relates to Africa’s growing role in shaping the global future include, Unlocking Inclusive Growth through Trade, Africa; The Solution for Clean Energy; Africa’s Digital Revolution; Sport: And the Winner Is… Africa!; as well as African Creativity for the World.
The event will bring together the continent’s most dynamic current and future leaders on a powerful platform dedicated to collaboration and actionable commitments. Through this event, Africa’s changemakers will unite to address global challenges with impactful solutions and transformative actions.
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