Africa Business Forum concludes with renewed commitment to expediting regional integration

Addis Ababa, February 18, 2025 (FMC) – Africa Business Forum 2025 concluded with a renewed commitment to regional integration, value chain activation, and industrialization.

The Africa Business Forum, held at the Economic Commission for Africa’s Africa Hall in Addis Ababa, concluded with an invigorating discussion on the critical need to activate regional value chains to unlock Africa’s economic potential.

The event brought together heads of state, policymakers, private sector leaders, and experts to address the key challenges and opportunities for Africa’s industrial development.

In his closing remarks, Claver Gatete, Under Secretary General and Executive Secretary of the Economic Commission for Africa (ECA), emphasized the importance of leveraging the African Continental Free Trade Area (AfCFTA) to foster regional value chains.

“We must accelerate the implementation of the AfCFTA to establish these value chains, particularly in pharmaceuticals, agriculture, and industrial sectors,” said Gatete.

He also highlighted the need for collaboration among African nations to overcome the region’s high trade costs, which remain much higher than trade with external markets. “To build a competitive Africa, we need to reduce these barriers, improve infrastructure, and invest in value-added production,” the Executive Secretary of ECA added.

The Forum underscored key initiatives and projects driving Africa’s economic transformation.

One such initiative is the Africa Electric Vehicle project, which links the Democratic Republic of the Congo and Zambia. This project, highlighted by  Gatete, showcases how building economic zones, improving transport infrastructure, and attracting private investors can unlock significant opportunities for sustainable development.

Discussions also centered on the need for greater investment in Africa’s industrial sectors. “Africa’s debt has reached 1.21 trillion USD, and we need to bring together debt partners from the Paris Club, non-Paris Club, and the private sector to address this issue of high indebtedness,” said Gatete.

“The AfCFTA is an essential tool to drive down costs and improve Africa’s competitiveness globally.”

Throughout the day, the Forum hosted numerous insightful discussions, including a Presidential Dialogue with leaders like President Duma Gideon Boko of Botswana, President John Dramani Mahama of Ghana, and Alexandre Barro Chambrier, Deputy Prime Minister of Gabon, who discussed the pressing need for pan-African cooperation to activate regional value chains.

Panels on financing, trade facilitation, and technological innovation also delved into practical solutions to bridge investment gaps and unlock Africa’s potential.

Gatete concluded the event by calling on African governments and businesses to look inward and challenge external perceptions about African products.

“We need to change the narratives about Africa and show we can make globally competitive final products. Products coming from Africa are neither fake nor unfinished—they are a testament to our capabilities and our future,” he remarked.

The Forum ended with a renewed commitment to regional integration, value chain activation, and industrialization. The collaborative spirit of the Forum signals a strong future for Africa’s trade and industrial development as the continent works to transform its economic landscape through AfCFTA and other strategic partnerships.