Africa: Global Africa Business Initiative Introduced to South Africa

Sanda Ojiambo, United Nations Assistant Secretary-General and CEO of the UN Global Compact, addressing the Africa Continental Free Trade Area Business Forum #AfCFTABF2023 in Cape Town.Cape Town — The Global Africa Business Initiative has been introduced to South Africa at the Africa Continental Free Trade Area Business Forum being held in Cape Town this week held under the leadership of Wamkele Mene, Secretary-General of AfCFTA.

During opening remarks at the AfCTA Business Forum Sanda Ojiambo, Assistant Secretary-General and CEO, UN Global Compact noted the importance of GABI to AfCFTA’s work: AfCFTA will play a key role in fueling trade and investment opportunities within the continent as well as the world with multiple initiatives which include facilitating easier trade across borders, increased investment in renewable energy and promoting the growth of Africa’s creative and cultural industries. According to the World Bank, AfCFTA could boost regional income by $450 billion, speed up wage growth for women and lift 30 million people out of extreme poverty by 2035.

During her visit to South Africa, Sanda Ojiambo co-hosted with Nelson Muffuh, Resident Coordinator of the United Nations in South Africa, a CEO Dinner and Dialogue on the Global Africa Business Initiative. In her welcoming remarks, she noted the growth and potential of the country:

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Rolling blackouts have negative impact on business: Business Leadership South Africa - SABC NewsOrganised business has expressed serious concerns about ongoing rolling blackouts in South Africa. Speaking at the Africa Continental Free Trade Area business forum underway in Cape Town, Chief Executive Officer of Business Leadership South Africa, Busisiwe Mavuso, says rolling blackouts have a negative impact on businesses and trade in Africa.
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