Strategies for Accelerating Africa’s Growth: Private Sector Engagement and Regulatory Harmonisation
A high-powered roundtable examined strategies for Africa to accelerate its growth, principally through engaging the private sector more intensely. Despite decades of promise, Africa has struggled to sustain rapid, inclusive growth. The African Continental Free Trade Area (AfCFTA) may offer a turning point, with demographic shifts and increasing interest in the continent’s resources fueling momentum.
Translating this potential into reality will require regional regulatory harmonisation, improved capital mobilisation, and high-level cross-border collaboration. The private sector, a vital actor in Africa’s development, needs predictable policy frameworks supported by evidence-based strategies that promote trade and investment.
Participants discussed the transformative role of the AfCFTA in building resilient ecosystems for job creation and growth. Emphasis was placed on growing the economy through investment and smart policy reforms to avoid counterproductive measures.
Efforts to simplify tax payment and collection were highlighted, with digitalisation seen as a key tool to improve compliance and formalise economies. Governments were urged to focus on reducing bureaucracy and promoting ‘Made in Africa’ goods to boost regional trade.
A better-coordinated approach is essential to harness Africa’s demographic and resource advantages for faster, more inclusive growth. Public-private partnerships were emphasized as crucial for reaching long-term investment goals.
