Ministers and Leading International Businessmen confirm their participation at the 3rd COMESA Investment Forum
Cairo, Monday 22nd March: Ministers of Finance, Investment and Trade from 9 African countries have confirmed their participation at this year's COMESA Investment Forum. They will join a select number of prominent businessmen and thinkers in Sharm el Sheikh on the 12th and 13th April.
Confirmed speakers include Ahmed Heikal Founder and Chairman of Citadel Capital, one of Africa's leading Private Equity Groups, Nigel Chanakira of Kingdom, Zimbabwe, Vuyo Kahla, Group Executive Transnet, Dambisa Moyo, the renowned economist and author, and the prominent Saudi entrepreneur Sheikh Saleh Abdullah Kamel, Chairman and Founder of the Dallah al Baraka Group, and Chairman of the Jeddah Chamber of Commerce. There will also be senior representatives from top global companies such as Coca Cola, Ernst & Young, Shanduka, Renaissance Capital, Unilever, the African Development Bank and SEACOM.
Commenting on the event, the Secretary General of COMESA, Sindiso Ngwenya appeared particularly enthused “We are extremely honoured to have such high level participation. We are grateful to all confirmed Ministers from our Member States. It is important that they have a platform to highlight and showcase investment opportunities in their respective countries. Throughout the COMESA region, ministers and investment agencies have worked tirelessly to put in place the right frameworks and create an enabling environment. We have some of the world's top reformers and many preferential agreements. This event will allow investors and business leaders to gain a better understanding of the opportunities at hand, and the numerous benefits of working and investing in COMESA Member States.”
The Forum is being hosted by the Ministry of Investment of Egypt and its investment promotion agency (IPA), the General Authority for Investment (GAFI). GAFI Chairman Mr. Osama Saleh added: “We are delighted to welcome such distinguished and influential businessmen. For example the Dallah al Baraka Group, whose founder will be amongst us in Sharm during this two day event, is one of the pioneering business conglomerates in the Middle East and an important player in driving the commercial relationships between the Kingdom of Saudi Arabia and Egypt, as well as all of Africa. We will also be hosting ministers from the 19 COMESA Member States and this will be an important platform to strengthen regional partnerships and foster greater co-operation.”
Hosting the third annual COMESA Investment Forum is just one of many initiatives instigated by the Ministry of Investment of Egypt. In the past ten days Egypt has embarked on a road show to Asia where it held the Egypt Investor Conference in Hong Kong and Egypt Day in Singapore. These events showcased Egypt's many investment opportunities and highlighted the progress made since it reformed is foreign investment legislations a little over five years ago.
The conference is being produced by IC Events, part of the IC Publications group, publishers of African Business magazine. Commenting on the conference, Omar Ben Yedder stressed the role the country is playing: “The fact that Egypt is hosting this conference highlights the lead role the country is playing in driving investment and growth to the region. In an era of global economic uncertainty and with the West still reeling the impact of the financial crisis, it is critically important to widen one's network of partners and look beyond traditional borders and friends. South-South partnerships have proved to be vital to sustain a strong level of growth. If a continent like Africa has managed to show positive levels of growth, it is undoubtedly because of strong measures taken before the crisis and the many friendships they have cultivated. We hope that many more [partnerships] will be struck during this two day Forum.”
Mr.Saleh went on to cite some revealing facts: “At $88bn, Africa received record FDI flows in 2008. As a continent, we have exceeded the rest of the world's developing nations with the highest FDI returns for two consecutive years. And this is in large due to ever more reforms, and well implemented laws and regulations. As a region, we share a wealth of natural resources. And our investment partners are many. The world is changing and COMESA must seize the moment.”
The COMESA Investment Forum will address developments in key sectors such as infrastructure, agro-processing, financial services, tourism and also renewable energy.
The Forum will take place in Sharm el Sheikh on the 12th and 13th April