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African multinationals join forces within the AfroChampions Club to foster Africa’s growth and development

October 19, 2017

Dangote Group CEO Aliko Dangote, President Thabo Mbeki and President Olusegun Obasanjo organised a successful inaugural meeting in Lagos, which brought together CEOs from 13 African countries
Samba Bathily, Michael Kottoh, Aliko Dangote, Albert Muchanga, AfroChampions Press panel

Samba Bathily, Michael Kottoh, Aliko Dangote, Albert Muchanga, AfroChampions Press panel

LAGOS, Nigeria, October 18, 2017/ — The AfroChampions Initiative  has just taken a new step with the official creation of the AfroChampions Club, a new platform to mobilise African multinationals to accelerate the economic integration of the continent. At the invitation of Mr. Aliko Dangote, Founder and CEO of the Dangote Group (www.Dangote.com) and President of the Club, key business leaders, representing a total of 13 African countries, met in Lagos to attend the inaugural meeting. High-level personalities, including His Excellency Mr. Yemi Osinbajo, Vice-President of the Federal Republic of Nigeria, His Excellency Mr. Thabo Mbeki, former President of the Republic of South Africa and President of the AfroChampions Initiative, and His Excellency Mr. Olusegun Obasanjo, former President of the Federal Republic of Nigeria and Patron of the initiative, also joined the event.

AU Commissioner, Albert Muchanga

AU Commissioner, Albert Muchanga

Participants at the inaugural meeting have launched two workstreams. The first one focused on gathering recommendations from various African multinationals on best approaches to achieve the Continental Free Trade Area (CFTA). These recommendations will be shared officially with the African Union, which was represented at the meeting by His Excellency Mr. Albert Muchanga, Commissioner for Trade and Industry.  Discussions focused on visa waivers and trade facilitation between African states. The second workstream focused on drafting an AfroChampions Charter aimed at defining how African multinationals can best contribute to the development of the continent. By working with the local ecosystems, supporting infrastructure projects, fostering industrialization or helping populations enter the digital era, African economic champions can indeed play a strategic role.

President Thabo Mbeki

President Thabo Mbeki

“We have chosen to work on issues of interest to all Africans. The African Free Trade Area will give us the ability to travel and work easily across the continent; it will also foster the creation of regional value chains, integrating SMEs and building capacities in our countries”, said Aliko Dangote. “As for the AfroChampions Charter, it is a commitment by African multinationals to invest more and better in Africa in those projects with strong economic and social impacts. Our primary responsibility is to give our youth jobs and a future. I was very pleased to hear the consensus on this issue and I expect the Charter to be signed by many of my fellow CEOs in the near future,” he added.

A member of the Executive Committee of the AfroChampions Initiative, Edem Adzogenu highlighted the quality of the discussions at this inaugural meeting. “We talked about the role that African multinationals can have as ambassadors of the continent and its talents, and ways to work better with the public sector. This new dynamic of dialogue is precisely what we want to put in place.” A progress report on the work of the AfroChampions Club is planned for the next African Union summit in January 2018.

The emergence and cross-border activities of homegrown African multinationals have contributed significantly to regional integration through intra-Africa investments and regional value-chains. The AfroChampions Initiative is designed to support and harness the emergence of these champion companies for Africa’s transformation. It also aims at facilitating strategic engagements on how these companies can grow from pan-African champions to African global giants.

The Dangote Group (www.Dangote.com) is an emerging African conglomerate based in Nigeria, West Africa, driven by a mission to touch the lives of people by providing their basic needs. Current interests of the Group, which started as a trading company in 1978, include cement, sugar, salt, pasta, beverages and real estate, with new projects underway in the oil and gas and agricultural sectors of the economy. Some of the Group’s 13 subsidiaries are listed on the Nigerian Stock Exchange (NSE). They include: cement, sugar, salt and flour. The Group operates in 16 other African countries and is fully involved in Corporate Social Responsibility (CSR) activities.

The AfroChampions (www.AfroChampions.com) Initiative is a set of innovative public-private partnerships and flagship programs designed to galvanize African resources and institutions to support the emergence and success of African private sector multinational champions in the regional and global spheres. The Initiative, driven by the AfroChampions Organization, was founded by the advisory firm Konfidants; and is Co-Chaired by President Thabo Mbeki and Mr. Aliko Dangote, President and CEO of Dangote Group (www.Dangote.com) The Initiative is headquartered in Accra, Ghana, and works with regional and global partners and governments, with the support of other corporate and institutional partners including ADS Group (http://APO.af/8woL9C), the Djondo Fellowship (http://APO.af/HHQjus), Olusegun Obasanjo Presidential Library (http://APO.af/R7tAcC) and Thabo Mbeki Foundation (http://APO.af/Kt2zhJ

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