Since its creation six years ago, the Africa CEO Forum has established itself as the major annual conference for the African private sector. On this occasion, FAGACE, like the 1,600 participants gathered in Abidjan on March 26 and 27, is mobilizing to make the private sector the catalyst for change on the continent.<\/p>\n
Indeed, this 6th edition lived up to all its promises, with a record number of participants: 60 countries represented, including 43 Africans who account for 98% of the continent’s GDP. What’s more, for the first time, heads of state were invited as participants. This is indeed the case for Zimbabwe’s Emerson Mnangagwa, whose first major appearance in West Africa since 1977, and Ghana’s Nana Akufo-Addo. The Africa CEO forum is in fact the only event to bring together in one place as many business leaders from French-speaking and English-speaking Africa.<\/p>\n
The speeches revealed a private sector in full development, but still struggling to assert itself on the international stage. As the Ivorian president pointed out, barely 400 African companies have sales in excess of one billion dollars, and none of them are among the 500 biggest companies in the world. “It’s a real challenge for you”, Alassane Ouattara told the business leaders gathered in Abidjan, reminding them that by 2025 there will be a potential of $5,600 billion in business opportunities in Africa.<\/p>\n
This enthusiasm is above all a reflection of an African economy that is doing better. This is borne out by the optimism of Africa’s top business leaders, 79% of whom are confident about their growth prospects over the next twelve months, according to a study by PWC.<\/p>\n
Bilateral meetings held on the bangs of the forum augur well for the strengthening of the Fund’s interventions on behalf of member countries’ economies.<\/p>\n