Five African Presidents to Attend Pivotal CEO Forumin Rwanda

Five African presidents are set to attend the 11th Africa CEO Forum in Kigali, Rwanda, on May 16-17, 2024. The high-profile event will focus on the crucial role of the private sector in driving the continent's economic development and global positioning. Over 2,000 business leaders and government representatives from across Africa and around the world are expected to participate in the two-dayforum.

Why this matters: The Africa CEO Forum's focus on private sector-driven growth has significant implications for the continent's economic future, particularly in the face of rapidly evolving technologies and climate change. The Africa CEO Forum's focus on private sector-driven growth has significant implications for the continent's economic future, particularly in the face of rapidly evolving technologies and climate change. Effective partnerships between governments and the private sector can drive socioeconomic growth and increase intra-African trade, thereby shaping the continent's development trajectory.

Among the confirmed attendees are President Paul Kagame of Rwanda, President William Ruto of Kenya, President Mokgweetsi Masisi of Botswana, President Filipe Nyusi of Mozambique, and President Ismail Omar Guelleh of Djibouti. The Prime Minister of Côte d'Ivoire, Robert Beugré Mambé, will also be present at the forum, which is being organized by CGEM and Jeune Afrique Group in partnership with the International Finance Corporation (IFC).

The Africa CEO Forum aims to address a wide range of topics key to the continent's economic growth, including digital technology, integration and free trade, strengthening Africa's finance and agribusiness sectors, the investment climate, and supporting Africa's women entrepreneurs. Nelly Mukazayire, Deputy CEO of Rwanda Development Board, emphasized the importance of the private sector, stating,"There is no talking of development and changing livelihoods without robust and intentional policies that advance trade and investment on our continent."

The forum seeks to amplify the private sector's voice and role in economic development, create effective partnerships with governments, and strengthen collaborations for socioeconomic growth on the continent. Amir Ben Yahmed, Founder of Africa CEO Forum and President of Jeune Afrique Media Group, noted, "Very often, the private sector is a little bit timid in voicing its problems because they operate in an economy where there are government interactions and become reluctant to confront their problems."

The timing of the Africa CEO Forum is particularly significant as African economies confront the challenges posed by rapidly evolving technologies and the global effects of climate change. Mary Porter Peschka, Regional Director for Eastern Africa at IFC, stressed, "African economies are at a critical turning point. We live in a time when Artificial Intelligence and other technologies are rapidly changing all sectors. The effects of climate change are global concern, but Africa is especiallyvulnerable."

The forum's objectives align with the pressing need to boost intra-African trade, which currently stands at only 14.4% of Africa's total exports, according to UNCTAD. The African Continental Free Trade Agreement has the potential to increase intra-African trade by 33% and narrow the trade deficit by 51%, underscoring the importance of private sector engagement and collaboration with governments to realize these goals.

The 11th Africa CEO Forum approaches, with the presence of five African presidents and the anticipated participation of over 2,000 business leaders and government representatives highlighting the event's significance in shaping the continent's economic future. The forum's focus on private sector-driven growth, coupled with the high-level discussions on key issues, is expected to generate actionable insights and cultivate meaningful partnerships that will drive Africa's development in the years to come.

Key Takeaways

• 5 African presidents to attend 11th Africa CEO Forum in Kigali, Rwanda on May 16-17, 2024.
• Forum to focus on private sector-driven growth and global positioning for Africa's economic development.
• Over 2,000 business leaders and government reps expected to attend and discuss key issues.
• Forum aims to boost intra-African trade, strengthen finance and agribusiness sectors, and support women entrepreneurs.
• Event crucial for shaping Africa's economic future amidst rapid technological changes and climate change.