African political and business leaders gathered on Thursday in Rwanda’s capital Kigali for the opening of the Africa CEO Forum, urging greater economic integration and cross-border cooperation to help the continent compete globally amid shifting trade and investment dynamics.
The two-day summit in Kigali brought together more than 2,800 participants from over 77 countries, including heads of state, investors and executives from major African and international companies, the organisers said in a statement.
Held under the theme Scale or Fail: Why Africa Must Embrace Shared Ownership, the forum focused on the need for African countries and businesses to pool capital, harmonise regulations and develop regional infrastructure projects to overcome fragmented markets.
“Africa has a lot that is not yet being put to good use,” Rwanda’s President Paul Kagame said during the opening ceremony.
‘Up to us’
“It is up to us – not people from anywhere else – to raise ourselves to the level we want to reach. We have the responsibility, the talent, and the opportunity to contribute to one another and move the continent forward,” he added.
Amir Ben Yahmed, CEO of Jeune Afrique Media Group and president of the Africa CEO Forum, said that African companies needed stronger partnerships and shared financing models to expand across borders and achieve economies of scale.
International Finance Corporation (IFC) Managing Director Makhtar Diop said that the continent already has sufficient capital and investment opportunities, but greater trust and cross-border collaboration are needed to mobilise funds effectively and create jobs.
Discussions at the summit are centred on three priorities: expanding African institutional investment, developing regional infrastructure and aligning regulatory frameworks to improve the movement of capital, goods and labour across the continent.
Presidents in attendance
Leaders attending the forum include Nigeria’s President Bola Tinubu, Kenya’s President William Ruto, Mauritania’s President Mohamed Ould Ghazouani, Guinea‘s President Mamady Doumbouya, and Mozambique’s President Daniel Chapo, alongside executives from companies including Schneider Electric, DP World and NBA Africa.
