NABA Summit shows how Nordic businesses can invest in Africa's growth
400 African and Nordic leaders, including more than 20 ambassadors from African countries, Vice President of Ghana H.E. Dr. Mahamudu Bawumia and the Minister of Investment of the Republic of Sudan H.E. Mubarak Al-Fadil assembled in Oslo this week to discuss how Nordic companies can invest in Africa’s resilient growth.
For the seventh consecutive year, The Norwegian-African Business Association (NABA) hosted the largest Nordic-African business summit in Oslo, Norway. Africa’s real GDP growth slowed down to 2.2% in 2016, mainly due to the continued fall in commodity prices and weak global economic growth. With dynamic private sectors, entrepreneurial spirit and vast resources, Africa has the potential to grow faster at an expected growth rate of 3.2% in 2019. This year's summit focuses on how to invest in Africa's transition and not why. In addition to the plenary sessions, various seminars will focus on ‘The possibilities of investments’, ‘Finance’, ‘Energy’ and ‘Technology’.
“The Norwegian government is working to create a broad partnership with African countries. It is important to increase international investments to ensure jobs and development. Nordic- African Business Summit has become a central meeting place for Nordic and African business. Africa has become increasingly more important for Norwegian business, and the Minister of Foreign Affairs is proud to co-host this year’s conference,” says Ine Eriksen Søreide, Norwegian Minister of Foreign Affairs.
“Building on the successes of the previous six summits, this year the summit will mix inspiring keynotes with smaller workshops that will show how you can invest in and take part in Africa’s resilient growth. The Summit facilitates face to face conversations with business leaders, politicians and civil society that build trust, a key ingredient to building businesses across continents,” says Eivind Fjeldstad, Managing Director of NABA.
Nigeria’s Minister of Industry, Trade and Investment H.E. Okechukwu Enelamah and Ministers from Sudan and Uganda were also among the honoured guests attending this all-day conference organised by the Norwegian-African Business Association (NABA). Nordic companies see the value of an arena where they can connect with influential African leaders and businesspeople.
"In Yara, we strongly believe that modern agriculture is the key to a positive future for Africa. We invest and dedicate resources in this market because we believe that the required changes will not only make the continent self-sufficient - it will enable it to export food to the rest of the world. One day, Africa will be the world's breadbasket," says Svein Tore Holsæther, President and Chief Executive Officer of YARA.