GABI calls for a bold reimagining of Africa’s economic narrative
Bamidele Famoofo
The Global Africa Business Initiative (GABI), issued its Unstoppable Africa 2024 Executive Summary recently, shedding light on transformative strategies and solutions to reshape Africa’s financial narrative and accelerate economic growth.
The report highlights GABI’s call for the development of an inclusive financing model to address Africa’s unique challenges, focusing on concessional financing, attracting private sector investment and mobilizing domestic resources as essential mechanisms to unlock the continent’s potential.
The report also stresses the importance of African institutions taking the lead in changing global risk perceptions and supporting innovative financial solutions to de-risk projects and secure long-term investments.
In its third year, GABI’s annual flagship event, Unstoppable Africa, has firmly established itself as the premier Africa-focused event in New York during the United Nations General Assembly high-level opening week, drawing interest and participation from global leaders.
Sanda Ojiambo, United Nations Assistant Secretary-General and CEO of the UN Global Compact said, “The GABI 2024 Executive Summary captures the transformative outcomes of the highly successful ‘Unstoppable Africa’ event, reflecting the groundbreaking solutions and impactful discussions that transpired. This event has played a crucial role in bringing together key stakeholders to discuss and align on these transformative strategies.
“By highlighting key initiatives and partnerships, this report underscores our commitment to positioning Africa at the center of global economic transformation. It is not just a reflection of our progress but a call to action for continued collaboration and ambition. We believe that by aligning with the aspirations of the 17 Sustainable Development Goals and Agenda 2063, we can unlock the full potential of Africa and contribute to a prosperous future for all.”
The “Unstoppable Africa” event was held on 25-26 September 2024 on the sidelines of the United Nations General Assembly. With over 4,000 participants, including 1,545 in person and 2,531 online, the event drew notable figures including six Heads of State and Government from Barbados, Côte D’Ivoire, DRC, Eswatini, the Netherlands, and Poland, along with 14 Government Ministers from 13 countries.
Key figures from the global private sector, top business leaders, and icons from the sports, music, and creative industries also spoke at and attended the conference.