Spotlight on private sector development at Africa CEO Forum

MCB ATRThe eighth edition of the largest international gathering of the African private sector will be held from 9-10 March 2020 in Abidjan, Côte d’Ivoire

With the role of capitalism sparking an intense debate around the world and as the need to “do good” becomes increasingly pressing in Africa, 1,800 leading decision-makers from industry, finance and politics will come together in Abidjan to boost the impact of African companies.

Growing inequality, the advent of climate risk, technological revolutions and resurgent protectionism: at a time when these four major disruptions are turning the global private sector upside down and pointing to capitalism’s fundamental transformation worldwide, the leaders of Africa’s economy and largest companies have been slow to participate in the topical discussion surrounding “capitalism and the common good.”

Nonetheless, there is another side to the story of African business: on the continent, more than anywhere, the private sector is demonstrating that “doing business” and “doing good” can be one and the same. There, telecom providers are promoting financial inclusion, investors are developing distributed solar energy facilities, agribusiness is prioritising on-site supply and processing: such examples of “business for good” are gradually becoming commonplace in Africa.

Given this issue critical to Africa’s development and following on the Africa CEO Forum 2018, which covered the impact of digital technology, and the Africa CEO Forum 2019, which covered the best approach to take to ensure the success of the African Continental Free Trade Area, this new edition of the largest gathering of the African private sector is set to bring together 1,800 participants around the theme of the role major companies have in society.

“Convinced that the world’s major companies must – and can – bring about a paradigm shift, Mauritius Commercial Bank Ltd (MCB) is proud to participate in the Africa CEO Forum’s initiative to create a new movement promoting common-good capitalism. Painting a new horizon for the African private sector is a strategic priority at a time when the inequality gap continues to widen, imbalances remain significant and environmental risk grows.

For two days, the Africa CEO Forum 2020 will drive public-private dialogue forward by providing a platform where economic leaders and public-sector representatives can discuss major sectoral challenges, as well as stimulate, as it does year after year, significant transactions in favour of the regional and pan-African growth of the private sector and the development of the continent in general.

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