An Action Plan to Accelerate Global Business and Investment in Africa
This white paper presents a bold and visionary action plan, co-created by the World Economic Forum and the Friends of the African Continental Free Trade Area (AfCFTA), containing goals, initiatives and commitments from industry leaders in four priority sectors: automotive, agriculture and agro-processing, pharmaceuticals, and transport and logistics – which have a combined worth of $130 billion.
Africa is undergoing profound changes as the region becomes more integrated, accelerated by the AfCFTA – a single market representing 1.7 billion people and $6.7 trillion in consumer and business spending by 2030. The full implementation of the AfCFTA agreement is projected to increase real incomes by 7% or nearly $450 billion.
Projects profiled in this action plan include the mobilization of financing to upgrade infrastructure in the transport and logistics sector, the development and deployment of green technologies in the automotive sector, the expansion of initiatives to move more of the agriculture value chain to the continent, and commitments by pharmaceutical companies on workforce, innovation, finance, policy and inclusivity.
Taken together, these ambitious commitments from leading companies on the continent signal to potential investors that investment in Africa can look forward to a future of boundless innovation and inclusive African prosperity.