Source: Business Desk
At the second edition of the Global Africa Forum (GAF), distinguished speakers and panel members made compelling appeals to Global Africans to channel their financial resources and expertise towards the African continent.
This initiative aims to support ongoing governmental and continental efforts to bridge the significant infrastructure gap across Africa.
The event, organized by the Africa Prosperity Network (APN) and the African American Institute (AAI), took place on September 25, 2024, on the sidelines of the 79th United Nations General Assembly (UNGA) in New York City, USA. It attracted numerous business leaders, thought leaders, policymakers, and influencers who shared diverse perspectives on the theme: “Mobilising Global Africa Investments to Address Africa’s Infrastructure Financing Deficit.”
In his opening address, delivered by Kwaku Sakyi Addo, a board member of APN, the Executive Chairman of APN, Mr. Gabby Otchere-Darko, emphasized the crucial role of the private sector in driving Africa’s infrastructure development. He highlighted the impressive remittance flows to Africa, which outperformed Foreign Direct Investment (FDI), and called for investments in essential infrastructure such as roads, bridges, railroads, and aviation and maritime links.
Mr. Otchere-Darko noted, “We need to invest in roads and bridges. We must build railroads and establish aviation and maritime links to connect our countries and move cargo and people. However, the model for financing must shift from central governments to the private sector.”
He further remarked on the potential of establishing direct air links between Africa and the Caribbean, which could unlock new trade, tourism, and cultural exchange opportunities. “We need to recreate that transatlantic bridge even for catharsis for our collective trauma,” he added.
Prominent business and corporate leaders, including Oliver Alawuba, Group Managing Director of United Bank for Africa (UBA) Plc, Boris Kodjoe, actor and co-founder of Full Circle Africa, Thierno Habib Hann, CEO of Shelter Afrique, Olakunle Williams, CEO of Tetracore Energy, and Kwabena Nyarko, CEO of Hospital Infrastructure Group, shared their insights. They emphasized the need to mobilize private capital and expertise to support large-scale and sustainable housing and urban development projects across Africa.
The speakers underscored that strong partnerships between private investors and governments are essential for the construction, speedy completion, and operationalization of much-needed infrastructure in Africa.
As part of the Global Africa Forum, the Group Managing Director of United Bank for Africa (UBA), Kofi Appenteng, President and CEO of African America Institute (AAI), and Fatima of BADEA jointly launched the 2025 Africa Prosperity Dialogues (APD 2025). This event will take place in Accra from January 30 to February 1, 2025, under the theme: “Driving Africa’s Economic Growth through Strategic Investments.”
Source: www.thenewindependentonline.com
