NACCIMA President Represented at African Business Forum in Addis Ababa
The President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) was this week represented at the African Business Forum held in Addis Ababa, Ethiopia.
The high-level forum was hosted by the United Nations Economic Commission for Africa (UNECA) under its African Business Forum platform, with the theme, “Reimagining Development Cooperation for Job Creation and Innovations.”
The event convened policymakers, development partners and private sector leaders, drawing speakers from African governments, international and regional financing institutions, United Nations agencies, non-governmental organisations and the private sector.
Discussions at the forum centred on the persistent challenge of unemployment across the continent despite decades of development support from advanced economies and global financial institutions such as the World Bank and the International Monetary Fund. Participants examined why African economies have struggled to scale sustainably, even as more than 12 million young Africans graduate annually without corresponding employment opportunities.
A key concern highlighted was Africa’s rapidly growing and predominantly youthful population, underscoring the urgency of job creation and innovation-driven growth.
Representing NACCIMA, the delegate participated in a fireside discussion moderated by Ms. Mavis Owusu-Gyamfi, Chief Executive Officer of the African Centre for Economic Transformation (ACET). In his intervention, he advocated for a strategic redirection of development support toward the private sector, particularly Small and Medium Enterprises (SMEs), which collectively remain the largest employers of labour across African economies.
He emphasised the need for patient capital, enhanced technical assistance in entrepreneurship and demand-driven skills training, as well as improved access to markets through the African Continental Free Trade Area (AfCFTA) framework to boost the competitiveness of African goods and services.
Other recommendations included the establishment and strengthening of innovation hubs and industrial parks to aggregate entrepreneurs, promote economies of scale and enhance governance structures. SMEs were encouraged to form cooperatives to leverage collective strength, while large corporations were urged to consider going public to deepen transparency and access to capital.
The importance of businesses joining structured Business Membership Organisations, including chambers of commerce and trade associations, was also underscored. Such platforms, it was noted, provide peer review mechanisms, best practice sharing, mentorship opportunities and vital business support services.
The forum further stressed the indispensable role of national and subnational governments as business enablers. Calls were made for stronger political will, improved ease of doing business reforms and pro-business policies aimed at actively supporting entrepreneurs to scale their operations and generate sustainable employment.
Proceedings from the fireside discussion are expected to be aired on CNBC Television on a date to be announced. The representative also disclosed that the full paper from which he spoke ex tempore will be made publicly available in due course.
