AU urges closer public-private partnership to realize continental development ambitions

The African Union (AU) on Saturday stressed the vital importance of enhancing the partnership between African policymakers and the private sector towards the realization of the continent's 50-year development Agenda 2063.

The 55member pan African bloc, calling on African policymakers and the private sector, also disclosed its plan to host the African Private Sector Forum in November this year with an aim to further bolster cooperation among towards the success of the ambitious Agenda 2063.

"To enhance the interface and partnership between the AU, the policymakers and the private sector and drive the realization of the aspirations of Africa's development framework Agenda 2063, the AU Commission is convening the 11th African Private Sector Forum set to be hosted in Antananarivo, Madagascar, on the November 6 to 8," said the AU in a statement issued on Saturday.

This year's edition of the African Private Sector Forum is expected to attract over 300 participants with private sector actors and investors coming from the five regions of the continent as well as investors from China, Turkey, U.S., and other regions, it was noted.

The high-level continental forum will be held under the theme of "Transforming African economies through private sector mobilization and capitalization of experiences from other regions of the world."

The pan African bloc organizes the continental private sector forum to spur the critical role the private sector is expected to play in Africa's transformation of economies and implementation of Agenda 2063, in particular, its contribution to poverty reduction through investment and employment creation, it was noted.

The African Private Sector Forum is also expected to host different side events covering topics including agribusiness, youth capacity development for entrepreneurs, mining, public-private partnerships, digitalization, access to financing and investments, among other key topics.

 

Source: Xinhuanet