Africa Must Seize Global Trade Disruption As 'Historic Opportunity,' Leaders Tell Private Sector

(MENAFN- Caribbean News Global) AFRICA – Ivorian prime minister Robert Mambé and African Development Bank Group president Sidi Ould Tah have urged Africa's private sector to take centre stage in the continent's economic transformation, stressing that the current global trade disruptions present an opportunity rather than a threat.

The two leaders were speaking on Monday at the opening of the 13th edition of the CGECI Academy, the flagship annual forum of Côte d'Ivoire's employers federation, held under the theme“Economic sovereignty: Time for Action.” The two-day event drew senior government officials, business leaders, and representatives of regional employers' organisations.

Prime Minister Mambé underscored the urgency of moving beyond analysis to action.“The time for self-analysis is over; it's now time for action!” he reiterated.“We must become aware of our strengths, our weaknesses and our untapped potential, and most importantly, we must establish a synthesis that consolidates our achievements for new prospects that are based on intelligent and dynamic partnerships.” He stressed that economic sovereignty requires coordinated effort from government, private investors, young entrepreneurs, and consumers.

Dr Ould Tah echoed this call, telling the gathering that Africa must turn the current global trade tensions into a“historic opportunity” to strengthen regional value chains and process more of its abundant raw materials locally.

“For Africa, this is not a threat; it is a historic opportunity to establish a stronger, more integrated and more resilient local economy,” the bank president said.

Dr Ould Tah, who assumed office on September 1, outlined his four-pillar strategy for Africa's development: mobilising large-scale capital, reforming Africa's financial architecture, accelerating the creation of quality jobs, and building climate-resilient infrastructure with green industrialisation. He emphasised that structural economic transformation cannot be achieved by governments alone.“They will also come from the African private sector, which must be central to the strategy,” the bank president said, calling on entrepreneurs to innovate and become major players in global markets.

The gathering comes as multilateral trade frameworks face mounting pressure from protectionist policies and geopolitical tensions. African leaders see the moment as critical for the continent to strengthen intra-African commerce and reduce dependence on external markets.

Ahmed Cissé, president of CGECI, pledged the private sector's support for continental efforts to restore economic and financial sovereignty through institutional partnerships, including“working closely” with the African Development Bank.

The CGECI, which represents nearly 80 percent of Côte d'Ivoire's private sector companies, has a long-standing partnership with the African Development Bank to boost youth entrepreneurship. Their joint initiative, La finance s'engage (Finance Commits), has mobilised resources for hundreds of Ivorian start-ups since 2016, including a €1.108 million project that has supported 200 young entrepreneurs, nearly a third of them women.

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