The African Union Commission (AUC) and the Global Africa Business Initiative (GABI), under the UN Global Compact, have reinforced their dedication to fostering development across Africa.
This renewed commitment was formalized through the signing of letters of intent, underscoring a significant step in their collaborative efforts.
Over the past two years, AUC and GABI have been synergizing to unlock Africa’s potential by encouraging trade and business investments. The signing is to deepen their cooperation, aligning with the AU’s 2024 education agenda and GABI’s 2024 themes, as well as supporting the broader AU Agenda 2063 and the Sustainable Development Goals (SDGs).
The agreement was signed during the AU’s Sixth Mid-Year Coordination Meeting in Accra. Madam Tolulope Lewis Tamoka, Chief of Intergovernmental Relations and Africa at the UN Global Compact, signed on behalf of GABI, while Mr. Albert M. Muchanga, AUC’s Commissioner for Trade and Industry, represented the Commission.
Key attendees included Madam Fatima Kyari Mohammed, AU Permanent Observer to the UN; Dr. Benedict Okeychukwu Oramah, President of the African Export–Import Bank (Afreximbank); and Mr. Charles Abani, UN Resident Coordinator to Ghana.
Madam Fatima Mohammed highlighted the importance of the letters of intent as a milestone in solidifying Africa’s relations with the UN and institutionalizing GABI as a major platform for foreign engagement with the private sector. She emphasized the need for deliberate actions across all economic sectors to achieve the set goals, particularly noting the private sector’s critical role in economic growth, job creation, and innovation.
Mr. Muchanga expressed his enthusiasm for the agreement, viewing it as a step towards ensuring prosperity for Africa and reaffirming the Commission’s commitment to full implementation of the signed letters of intent.
Dr. Oramah reiterated Afreximbank’s support for the initiative, recognizing its potential to unify efforts across the continent. Mr. Abani stressed the private sector’s significance in achieving the AU’s 2063 agenda and the SDGs, pinpointing areas like food systems, energy accessibility, digital transformation, job creation, education, and climate change as critical to these goals.
GABI aims to position Africa as a premier destination for business, trade, and investment, reshaping the global narrative about the continent.
