The 14^th African Union High Level Private Sector Forum that was co-organised by Kenya Private Sector Alliance (KEPSA), African Union (AU), East African Community (EAC) and East Africa Business Council (EABC) kicked off on 10^th July 2023 at the Kenyatta International Convention Centre (KICC) in Nairobi. The three-day forum aims to strengthen the linkages between regional and continental markets for increased trade & investment under the theme: “Public-Private Sector Engagement for Inclusive Growth and Sustainable Development while Deepening Regional and Continental Trade and Investment towards Implementation of AfCFTA.”

The forum brings together approximately 500 delegates from both the East African region and the broader African continent, providing a platform for High Level Government Officials, the Private Sector and Stakeholders to engage on progress and challenges and deliberate on solutions and opportunities presented by Regional and Continental Integration initiatives such as the Africa Free Continental Trade Area (AfCFTA).

In her keynote address, Hon.  Rebecca Miano - Cabinet Secretary for East African Community (EAC) Arid and Semi-Arid Lands and Regional Development highlighted the significant contribution of the Private Sector which accounts for 80% of Africa’s total production, two-thirds of investment and three-quarters of credit. The AfCFTA, she noted, offered the private sector a market of over 1.3 billion people with a combined GDP of over 2.5 trillion dollars. The private sector plays a big role in the success of Africa’s economic integration and by extension creating greater wealth and expanding employment opportunities.

On his part, H.E Amb. Albert Muchanga - Commissioner, Economic Development, Trade, Tourism, Industry, and Minerals (ETTIM), African Union Commission also remained hopeful that the current study by AUDA-NEPAD which positions African economies to grow at 7-10% annually between now and 2063 which requires, among others, increasing investments from 20% of Africa’s Gross Domestic Product to 40%.

Ms. Susan Maingi, Chair of the KEPSA Trade and Industrialization Sector Board noted the need for governments to establish an enabling environment that encourages entrepreneurship, innovation, and investment while upholding transparency and accountability in governance. She also urged the private sector to embrace the opportunities presented by the AfCFTA while adopting sustainability and responsible business practices to drive inclusive growth and make a positive social impact.

The chairperson for EABC, Ms. Angelina Ngalula, appreciated the role that public-private dialogue engagements have in enhancing the implementation of AfCFTA, by supporting the elimination of tariff and non-tariff barriers up to 9% that can reduce the balance to trade across African countries in trade and services.

Dr. Amany Asfour - President of the Africa Business Council (AfBC) noted that empowerment of the African private sector to trade within Africa was central to its sustainable development. Her sentiments were reiterated by Ms.  Annette Ssemuwemba, Deputy Secretary General of EAC, who stated the need for strategic use of public-private dialogue for industrial development, growth of regional value chains, developing technical capacities and strengthening linkages and continental markets.

Ms.  Emily Mburu, Director Trading Services, Investment, Intellectual Property Rights and Digital Trade – AfCFTA Secretariat noted that the successful maximization, actualization and implementation of AfCFTA, will fully rely on public and private sector collaboration. She added that there was, therefore, a need for dialogue in generating solutions for the integration of the continent and implementation of the different agreements towards agenda 2063.

Mr. Job Wanjohi, Head of Policy and Research, Kenya Association of Manufacturers (KAM) reiterated the need for constant collaboration between the public and private sectors to spur the growth of industry, value addition of minerals, increase investments and create jobs for sustainable development.

After the opening session, the delegates engaged a high level panel that discussed Key Actions to Achieve Inclusive Growth and Sustainable Development in Africa towards the Implementation of AfCFTA. The panellists included Dr. James Mwangi - CEO, Equity Group; Dr. Vimal Shah - Chairperson, BIDCO Africa; H.E Amb. Albert M. Muchanga; Dr. Amany Asfour - President of Africa Business Council (AfBC): Ms Flavia Busingye - Ag. Director, Customs & Trade at EAC. The EAC launched an online tool to measure the performance of 22 One-Stop Border Posts (OSBPs) across the region.

The forum featured two more panel sessions, the first being on Enhancing Access to Finance in Africa - Exploring Financial Innovations that Reshape Economic Growth and the second one discussing Transforming business models in the global garment industry: The Role of Clothing, Textile and Leather Value Chain in Africa, where the KEPSA Chair Mr. Jas Bedi was a panellist.