malvernmugadzikwa
Business Writer
Zimbabwe could tap into the upcoming Global Africa Business Initiative (GABI), a leading platform for promoting investment opportunities and business growth across Africa and the world, which plays a key role in facilitating dialogue and collaboration needed for Africa’s ambitious economic growth.
The forum will bring together Heads of State and Government, CEOs, leaders, investors and entrepreneurs in September for a deep dive into energy, trade and digital transformation.
The forum, which seeks to accelerate and promote business, trade and investment across Africa, comes at a time Zimbabwe for instance is scouting for foreign direct investment (FDI) in mining, agriculture, tourism and hospitality as well as energy infrastructure development.
Under the second republic, various investment projects agreements have been penned and the summit to be held in New York next month, may be an ideal platform to market the brand Zimbabwe.
The country is also running with the Zimbabwe is open for business mantra, in efforts to lure investments.
This landmark event also comes at a pivotal time in Africa’s economic landscape. With a market potential of US$3 trillion, Africa presents enormous business, trade and investment opportunities.
The region’s GDP growth at 4 percent, expected to outpace the global average of 2,7 percent, is indicative of the continent’s robust economic momentum. Moreover, FDI into the region surged to US$97 billion in 2021 before moderating to US$45 billion in 2022, but still reflects a substantial increase from the US$39 billion recorded in 2020, underscoring a vibrant and attractive investment environment.
These unique attributes underscore the vast potential and innovative spirit that characterise Africa’s present and future economy. Leveraging 60 percent of the world’s uncultivated arable land and housing the youngest population globally, with 60 percent under the age of 25, the continent is poised for dynamic growth and expansion. GABI provides the perfect platform to explore and invest in these opportunities, laying the groundwork for a prosperous future in Africa and worldwide.
Themed ‘Unstoppable Africa’, the GABI event will take place on 21-22 September in New York during the high-level UN General Assembly week. This year’s event aims to amplify opportunities and encourage businesses, Governments and investors globally to drive business, trade and growth for Africa and the world.
This year’s programme will center on three key themes: Energy Access and Energy Transitions, Inclusive Growth and Trade and Digital Transformation delivered through high-level keynotes, fireside chats, and in-depth panel discussions concerning energy access, inclusive growth and trade, and digital transformation.
Launched in September 2022 by UN Secretary-General Antonio Guterres and UN Deputy Secretary-General Amina J. Mohammed in New York, GABI emphasises Africa’s potential as a major driver of global business. The initiative underscores opportunities in every sector, from manufacturing to agriculture and finance.
“The Global Africa Business Initiative is about Africa’s leaders resetting the global narrative and positioning key partnerships to deliver inclusive sustainable growth for people and the planet,” said Amina J. Mohammed, UN Deputy Secretary-General.
“The next chapter for Africa begins by building bridges for new opportunities, where Africans take to the global stage to craft their own narratives and develop powerful economic engines – on their terms.”
Bongani Ndlovu