MEDIA ADVISORY

The Africa Continental Free Trade Area (AfCFTA) Private Sector Investment and Financing Framework

What: The AfCFTA Private Sector Investment Financing Framework, is a private-sector led initiative to boost industry capacity and take advantage of the liberalized pan-African market. The initiative is envisaged to unlock $ 1 trillion in AfCFTA--certified and accelerated investments.

Theme: “Using AfCFTA to trigger a $1 Trillion infrastructure and industrial revolution in Africa by 2030”.

When: 9th October 2019

Where: Marriot Hotel; Kigali, Rwanda.

Time: 09:30 – 17:00

Who: The African Union, Department of trade and industry in partnership with the Afro-Champions Initiative.

Why: The campaign brings together stakeholders from the African and global private sector; Development Finance Institutions; Sovereign and Pension Wealth Funds; African governments and key bilateral and multilateral development partners, and relevant AUC organs.

Asian integration agenda.

Specific Objectives:

· The AfCFTA Private Sector Investment and financing framework to trigger mobilization of $1trillion to finance investments in infrastructure and industrialization.

· To boost the continent’s capital to attract more foreign and domestic capital

· It is the single trigger for a “triple revolution”- an infrastructure revolution,

Expected Outputs / Outcomes:

· Fruition of a private-sector led, and multi-stakeholder financing framework to enhance the logistical, and infrastructural convenience within the context of the AfCFTA.

· Enhanced access to financing for project developers from the framework’s network of financing partners to control up to $ 10 trillion in assets under management;

Background

The AfCFTA Private Sector Investment and financing framework is a key catalyst towards reducing the cost of doing business in the liberalized trading regime. Whilst eliminating tariff and non-tariff barriers is a key component of the scheme of things under the AfCFTA, infrastructure and ancillary investments in logistics are key hurdles to be tackled head-on if the continent has to unlock benefits from the liberalized trading. Thus for the AfCFTA to succeed, a set of infrastructural and industrial preconditions must exist – which is what the framework seeks to deliver. This initiative draws good benchmarks from regional integration related investments, as revealed by the international lessons can be taken from the European experience, and to some extend the a) an agricultural revolution and industrial revolution in Africa, to anchor the prospects of structural transformation.

At the July 2019 Extraordinary Summit of AU Heads of State in Niamey, AfroChampions presented to African Heads of State, a strategy by African private-sector to use AfCFTA as a trigger for & $1 trillion investments in infrastructure, agriculture and industrialization by 2030. The initiative known as AfCFTA private sector Investment and Financing Framework will be formally launched on the 9th of October 2019.

The AfCFTA is envisaged to create a single continental market for goods and services, with free movement of business persons and investments, and thus pave the way for accelerating the establishment of a Customs Union. It will also expand intra-African trade through better harmonization and coordination of trade liberation and facilitation and instruments across the RECs and the continent in general. It is also expected to enhance competitiveness at the industry and enterprise level through exploitation of opportunities for small scale production, continental market access and better reallocation of resources.

Representatives of the media, especially those based in Kigali, Rwanda, are invited to cover the event. The

For media inquiries, please contact:

Mrs. Wynne Musabayana| Head, Communication Division| Directorate of Information and Communication, African Union Commission | E-mail: Musabayanaw@africa-union.org

Mrs. Ron Osman Omar| Senior Industry Officer | Industry Division, African Union Commission | E-mail: OmarR@africa-union.org

For further information: Directorate of Information and Communication | African Union Commission I E-mail: DIC@africa-union.org I Website: www.au.int I Addis Ababa | Ethiopia

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