Africans urged to tap their immense trade, investment potential by addressing challenges
Addis Ababa, December 4, 2023 (FBC) – There is immense potential for trade and investment in Africa , while addressing the challenges and opportunities that lay ahead, Chairman and CEO of Investment Center of Africa (ICOA) Abdinasir Turky said.
The 2nd Africa Trade and Investment summit held today in Addis Ababa, which aims to showcase success stories and best practices from entrepreneurs and investors that are making a positive impact in Africa.
The summit organized by the Investment Center of Africa (ICOA) brought together government officials, investors, policy makers, entrepreneurs and diplomatic corps from Africa and around the world.
ICOA serves as Africa’s premier business platform, dedicated to fostering investment and trade across the continent
Speaking at the summit, Chairman and CEO of Investment Center of Africa, Abdinasir Turky said the summit aims to provide a platform for meaningful discussions, networking and market information sharing to showcase specific sectors with high growth potential.
Moreover, he elaborated that together we can unlock new markets, increase productivity and promote innovation that will shape the future of this great continent.
Together we aim to foster an environment that encourages bilateral trade, investment and technology transfer, ultimately driving sustainable economic growth and prosperity in Africa.
“We are here today because we recognize that trade and investment are a catalyst for economic transformation by fostering collaboration and strategic partnerships. We have the power to create jobs, reduce poverty and improve the quality of life for millions of people across Africa.”
Together we can build a bridge that connects Africa with the rest of the world, creating a favorable environment for trade and investment that will benefit all parties involved, he added.
There is immense potential for trade and investment in the continent while addressing the challenges and opportunities that lay ahead, the CEO stated.
Thus, the summit outcomes are expected to contribute to the ongoing efforts to promote sustainable economic growth, regional integration and attracting new partnership and the foreign investment in Africa.
A member of the Foreign Relations and Peace Affairs Standing Committee of the House of Peoples’ Representatives, Ambassador Dina Mufti said Africa has enormous opportunities in business and investment.
There are various sectors like agriculture, agro-process, mining, banking, ICT among others that can bring huge opportunities for investors, he added.
However, he highlighted that there are challenges that face sectors, and need concrete efforts of investors and partners to overcome the challenges.
Moreover, he reiterated that the government of Ethiopia’s commitment to supporting and encouraging investments and businesses within the country.
ENA’s report recalled that the first Africa Trade and Investment Summit was also held in Addis Ababa in June 2023 with the aim of promoting trade and investment opportunities in Ethiopia in particular and in the continent in general.