African entrepreneurs and their guests discussed ways and means to boost economic growth during the just ended 6th edition of the Africa CEO Forum in Abidjan, Ivory Coast.
The two-day conference brought together around 1,200 delegates including, heads of state, African and international CEO’s, investors, bankers and other stake holders to discuss Africa’s economic transformation and the role of the continent’s private sector.
“We are committed to ensure that we can continue to exchange on the major questions of our continent and make sure that we are moving towards industrialisation and in fact see the need to go in that direction,” Ivorian president Alassane Ouattara said.
A recent International Monetary Fund (IMF) report projected that economic growth in Sub-Saharan Africa is expected to rise 3.4 percent this year from 2.6 percent in 2017.
However, the report adds that the continent should look out for rising debt and political risks in larger economies which could weigh down future growth.
“As Alassane Ouattara said earlier on, in 2050, one in four habitants on earth will be African. He didn’t say where they will be living. In Europe we wish they should live here to develop the area.” Swiss economist, Pierre Maudet said.
African countries have been advised to diversify from dependence on commodities and oil and implement fiscal reforms to stimulate growth and attract private investment.
The forum equally recognised African business executives, whose companies have been influential in the continent’s growth.