Sierra Leone Telegraph: 15 September 2021:
One of the world’s leading financial groups, Mitsubishi UFJ Financial Group (MUFG), is partnering with Invest Africa – the leading trade and investment platform for the Continent to support the region’s drive towards a sustainable recovery in the wake of the Covid-19 pandemic.
The partnership will focus on Invest Africa’s annual flagship conference – The Africa Debate (https://bit.ly/3Ek4r0X), which regularly assembles African policy makers and business leaders to debate the most pressing issues shaping the Continent’s economies and societies.
Today, 15th September, Dr. Christopher Marks, Managing Director and Head of Emerging Markets, EMEA at MUFG will discuss the commitments needed to ensure that Africa is not left behind in the global recovery with Professor Benedict Oramah – President of Afreximbank; Dr. John Nkengasong – Director of Africa CDC; Sérgio Pimenta – Vice President, Middle East and Africa, International Finance Corporation (IFC); and Abebe Aemro Selassie, Director for Africa, International Monetary Fund (IMF).
Earlier this year, the World Economic Forum called on leaders to seize the “unique window of opportunity to shape the recovery” and frame the challenge as “The Great Reset”.
Despite this momentum, the pandemic has also deepened global inequalities, prompting the IMF to warn against the dangers of a “two-speed recovery”. It has been estimated that the pandemic has pushed up to 40 million people in Sub-Saharan Africa into extreme poverty with limited access to vaccines undermining a return to growth.
However, the global nature of the Covid-19 pandemic also represents an opportunity to mobilise sustainable capital towards investments in emerging markets, including Africa.
The Forum is supported (Photo) by the Government of Ghana with President Nana Akufo-Addo and key ministers set to address investors and businesses on investment opportunities in Ghana as well as the wider region.
Now in its 7th year, The Africa Debate will provide the platform to amplify the priorities of the region’s leaders, as they seek to secure the essential health measures and long-term investments that will drive progress towards Africa’s sustainable development goals.
Karen Taylor, CEO of Invest Africa said, “The aim of The Africa Debate has always been to drive sustainable finance towards the Continent. This year, we are delighted to have the support of MUFG, showing the continued interest from global markets in investment opportunities in Africa. Strong collaboration between the public and private sectors will be essential to the Continent’s recovery and we look forward to a fruitful discussion led by MUFG.”
Dr. Christopher Marks, Managing Director and Head of Emerging Markets, EMEA, MUFG commented, “The long tail of the pandemic will not only reset but no doubt reshape Africa’s growth and human welfare trajectory. We are unarguably in a moment of maximum uncertainty. But for domestic policy makers as well as international investors and partners, the post-pandemic recovery opens opportunities borne of new priorities, even as the broad drivers of change on the Continent—digitalisation, urbanisation, climate resilience— have not lost their importance. The Africa Debate has never been more relevant.”
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,500 locations in more than 50 countries. The Group has about 170,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit https://www.mufg.jp/english
About Invest Africa:
Invest Africa is a leading business and investment platform with a global footprint of more than 400 member companies, comprising multinationals, private equity firms, institutional investors, development finance institutions, professional service organisations, government bodies and entrepreneurs.
Formerly the Business Council for Africa, founded in 1956, Invest Africa leverages sixty years’ experience in Africa to provide its members with unique information and exposure to business opportunities. The organisation regularly works closely with governments and investment promotion agencies across the Continent to encourage private sector support and international investment in line with national and international development objectives.
Headquartered in London, Invest Africa also operates in four additional chapter cities: Johannesburg, Cape Town, New York and Dubai.
Its vision is to play a central and influential role in Africa’s socio-economic growth by guiding sustainable capital towards key prospects on the continent.
Read about the Africa Debate here:
Africa is the new frontier for business opportunities across the board .In the 1960s, African countries cast away the yoke of colonialism, and imperialism . And for many, were granted their independence and self determination they fought for with blood and sweat . Today, apart from the Western Sahara, Apartheid South Africa was one few countries in the continent that bucked that trend until 1994, when the black majority was granted the full vote and their political rights . The 1960s, 70s and 80s, which is the lost decades for any would be future developments prospects for the continent, and its people’s were marked by security challenges, like military coups, civil wars, draughts, famine, and counter insurgency operations, mostly driven by the cold war as many of this newly African independent states that were trying to find their feets found themselves in the middle of a tug of war between Soviet Union and the Eastern block Warsaw pact countries, and the West North Atlantic alliance .
By the 2000s, and after the fall of the Berlin wall, in 1989,majority of the security challenges in the African continent disappeared for a while. Nany thought a new dawn was about to start. Western intrest towards the continent were placed in the cold freezer as they turned their attention to the growing Tiger economies of South East Asia and the Pacific region. Where ordinary Asians were producing goods like semi conductors, clothings, house hold items etc, etc for European and American markets.And it was all driven the fourth industrial revolution.The internet age. At this time Western powers took their eyes on the ball, as Bin Laden and his Al – Queada terrorist Net work hits target’s in 1998 Kenya and Tanzania. Then in 2000 the Twins Towers attacks in New York, and Pennsylvania in Washington DC. Then the world entered a new age as the Bush administration declared war on terror. Once again Africa became one of the focal point in the fight against Jihadist.
Meanwhile, as the war on terror goes on, China saw an opening and an opportunity in Africa and poured billions of dollars of investments.Today for some African countries those investments are ripping the dividends, and for others less so. Now the West is trying to play catch up with China. So is everything to play for. We just need leaders that will look after our intrest. Because the competition is heating up.
It is time now the world financial groups think of Africa as ready to push the world ahead and pretention of driving economy to eliminate the continent from just asking for help, yet trying to give evidence of maturity in developmente and no other country blocking that progres. I am really happy Africa’s situation is turning to betterment. May God bless Africa and the helpers.