Africa: World Recognizing Africa as a 'Gamechanger for Global Business' - UN Chief
[allAfrica] Geneva -- United Nations Secretary-General Antonio Guterres has told the Global Africa Business Initiative that Africa represents a $3 trillion market opportunity and the world is finally recognizing it as a ''gamechanger for global business''.
Geneva — United Nations Secretary-General Antonio Guterres has declared Africa as a "gamechanger for global business" at the Global Africa Business Initiative's 5th event, Unstoppable Africa. He stated that Africa represents a $3 trillion market opportunity and is gaining global momentum in shaping its own future. Guterres highlighted Africa's vast natural resources, such as 30% of global mineral resources and 60% of solar potential, and its fastest-growing labor force.
He pointed out that fintech is now the continent's largest draw for investment capital. Africa is also leading in renewable energy, with Kenya generating over 90% of its electricity from renewables, and Morocco developing a submarine cable for green electricity to Europe. The technology sector in Africa is thriving, with Tunisia competing in AI and Rwanda pioneering drone delivery.
Guterres also noted the rise of Africa in entertainment, with Nigeria, South Africa, and Senegal creating global music and film. Despite challenges such as global turbulence, trade under the African Continental Free Trade Area is projected to reach $230 billion by 2026. Guterres stressed the importance of Africa creating local value and decent jobs from its resources rather than shipping them overseas and urged for no more plundering.
He also advocated for permanent seats for Africa on the United Nations Security Council to contribute to global dialogue and action.
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