Wherewithal from the continent’s combined private-sector potential must take centre stage in driving Africa’s economic transformation, African Development Bank (AfDB) President Dr Sidi Ould Tah has told 13th General Confederation of Enterprises of Côte d’Ivoire (CGECI).
Ivorian Prime Minister Robert Beugré Mambé echoed his sentiments that current global trade disruptions were a historic opportunity rather than a threat.
Speaking at CGECI Academy forum in Abidjan last week, they called for decisive action to strengthen Africa’s economic sovereignty.
The two-day gathering, held under the theme ‘Economic Sovereignty: Time for Action’, brought together senior government officials, business leaders, and regional industry representatives.
Mambé emphasised that Africa must move beyond reflection to tangible progress.
“The time for self-analysis is over; it’s now time for action,” he said, urging the continent to recognise its strengths and weaknesses, build on its achievements, and forge dynamic partnerships among governments, private investors, young entrepreneurs and consumers.
Dr Ould Tah encouraged African economies to transform global trade tensions into a catalyst for regional growth. He urged nations to strengthen regional value chains and increase local processing of raw materials, describing this as vital to building resilience and long-term competitiveness.
Outlining his four-pillar strategy for Africa’s development, the AfDB president cited the need to mobilise large-scale investment, reform the continent’s financial architecture, accelerate quality job creation, and expand climate-resilient infrastructure through green industrialisation.
“Structural transformation cannot rely on governments alone,” he said.
“It must also come from the African private sector, which should be central to the strategy.”
The forum took place against a backdrop of rising protectionism and intensifying geopolitical tensions that are reshaping global trade flows.
