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RELEASE: IGD AND AFRICAN DEVELOPMENT BANK JOIN FORCES TO MOBILIZE ACTION ON CREATING AN ENABLING ENVIRONMENT FOR AFRICA’S TRANSFORMATION

August 26, 2016

FORUM SESSION TO RALLY PRIVATE SECTOR SUPPORT ON ACHIEVING THE BANK’S ‘HIGH 5S’ FOR AFRICA’S SUSTAINABLE TRANSFORMATION

·       “AFRICA INVESTMENT RISING” (AIR) CAMPAIGN TO BE LAUNCHED AT THE FRONTIER 100 FALL FORUM

·       AFRICAN EXPORT IMPORT BANK JOINS THE “AFRICA INVESTMENT RISING” (AIR) INAUGURAL TEAM

·       SPECIAL HALF-DAY SESSION TO PRESENT A BALANCED VIEW ON CHINESE INVESTMENT IN AFRICA

·       IGD AND AFRICA INVESTOR FORGE STRATEGIC PARTNERSHIP FOR FRONTIER LEADERS TO ATTEND AFRICA INVESTOR’S CEO INVESTMENT SUMMIT

 

Dr. Akinwumi Adesina, AfDB President

Dr. Akinwumi Adesina, AfDB President

WASHINGTON D.C. – August 24, 2016 –  The Initiative for Global Development (IGD) has joined forces with the African Development Bank for its Fall Frontier 100 Forum to mobilize Africa’s private sector in creating an enabling business environment to achieve inclusive growth and accelerate progress on the Bank’s bold agenda for the continent’s transformation.

The Frontier 100 Forum, to be held on Oct. 4-6 in Washington, DC, is an exclusive, invitation-only biannual event that convenes the IGD Frontier Leader Network of CEOs and senior executives of African, U.S., European and South Asian companies operating in Africa. The AfDB is the Premier Sponsor of the Forum and will be anchoring the “Africa Investment Rising” (AIR) Campaign to be launched at the Forum.

African and global corporate leaders and government officials will gather in Washington to offer insight into, collaborate, and put forth action-oriented strategies on the forum theme, “Unleashing an Enabling Environment for Africa’s Private Sector to Achieve Inclusive Growth”.

Forum sessions are aimed at encouraging the private sector to play a role in shaping the business environment in Africa through greater engagement with African governments and bilateral donors to advance economic growth for sustainable development.

Sessions will rally global support and action on achieving the AfDB’s top priorities for Africa’s sustainable transformation called the “High 5s”: (i) Light up and power Africa; (ii) Feed Africa; (iii) Integrate Africa; (iv) Industrialize Africa; and (v) Improve the quality of life for the people of Africa.

“The Bank’s ‘High Fives’ offer us an action driven blueprint for promoting sustainable development and inclusive growth in Africa,” said Dr. Mima Nedelcovych, IGD’s President & CEO.

“Our Frontier 100 Forum will bring together executives and investors from sector-leading companies operating on the African continent and high-level officials from U.S. and African governments to collectively address how to improve the overall enabling environment for business growth and to meet key development targets.”

Dr. Akinwumi Adesina, AfDB’s President, will serve as the keynote speaker for the Forum’s opening address on Oct. 5 at the Rayburn House Office Building on Capitol Hill, where he will set the stage for a full-day of engaging panel discussions on the “High 5s”.

 “The African Development Bank has raised the bar on its level of ambition for Africa,” said Dr. Adesina. “We have charted a bold and ambitious program known as the High 5s, namely: Light up and Power Africa; Feed Africa; Industrialize Africa; Integrate Africa; Improve the Quality of Life for the People of Africa. The High 5s strategies are now being rolled out. Their implementation, which has begun in earnest, will help the continent make significant progress in its development efforts.”

A special bipartisan legislative session with congressional staffers of the House and Senate Subcommittee on Africa, will review U.S.-Africa policy legislative bills and give an update on progress, to date. The session will also weigh in on how the African private sector can provide Congress with valuable insight on legislation relating to business and investment in Africa.

The Forum will open with an afternoon session on Oct. 4, on Chinese investment in Africa. The half-day session, Chinese Investment in Africa: A Balanced View of China’s Role and Impact on Africa’s Private Sector, will draw a comparison between Chinese investments in Africa with other countries and explore the prospects and challenges of trilateral cooperation between Chinese, American, and African companies.

The Fall Forum will also unveil the Africa Investment Rising (AIR) Campaign, a new IGD communications and advocacy campaign to amplify the voice of Africa’s private sector leaders and encouraging greater global business investment in the African continent.

Report findings from the culmination of a yearlong comprehensive organizational assessment of the operations of the Nigeria-based Foundation for Partnership Initiatives in the Niger Delta (PIND) and its U.S-based strategic partner the Niger Delta Partnership Initiative Foundation (NDPI), will be released at a luncheon session.

Prior to the World Bank/IMF Annual Meetings, IGD Frontier Leaders are invited to attend Africa Investor’s CEO Investment Summit, an annual CEO business and government leadership forum on Oct. 6. The Summit, organized in collaboration with IGD, is an extension of the Frontier 100 Forum. Frontier Leaders can attend for a special negotiated rate. To register, click here.

*CONTACT:  Shanta Bryant Gyan * Initiative for Global Development *  shanta@sbgcommunications.com * 202-412-4603

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