Africa urged to seize global trade disruptions as economic opportunity

Africa’s private sector must take centre stage in the continent’s economic transformation, Ivorian Prime Minister Robert Mambe and African Development Bank (AfDB) President Sidi Ould Tah urged on Monday, describing current global trade disruptions as an opportunity rather than a threat.

Speaking at the opening of the 13th CGECI Academy in Cote d’Ivoire, the annual forum of the country’s employers’ federation, the leaders called for urgent action to strengthen Africa’s economic sovereignty. The two-day event, held under the theme “Economic sovereignty: Time for Action,” drew senior government officials, business leaders, and regional employers’ representatives.

Prime Minister Mambé stressed that Africa must move beyond analysis to concrete steps. “The time for self-analysis is over; it’s now time for action!” he said. He highlighted the need to recognise the continent’s strengths and weaknesses, build on achievements, and create new prospects through dynamic partnerships involving governments, private investors, young entrepreneurs, and consumers.

Dr Ould Tah echoed the call, urging Africa to turn global trade tensions into a “historic opportunity” to strengthen regional value chains and process more raw materials locally. He outlined his four-pillar strategy for development: mobilising large-scale capital, reforming Africa’s financial architecture, accelerating quality job creation, and building climate-resilient infrastructure through green industrialisation.

The AfDB President emphasised that structural economic transformation cannot rely on governments alone. “They will also come from the African private sector, which must be central to the strategy,” he said, calling on entrepreneurs to innovate and become major players in global markets.

The forum comes amid rising protectionism and geopolitical tensions affecting multilateral trade frameworks. African leaders view the moment as critical to boosting intra-African commerce and reducing dependence on external markets.

Ahmed Cisse, president of CGECI, pledged the private sector’s support for restoring economic and financial sovereignty through institutional partnerships, including close collaboration with the African Development Bank. Since 2016, CGECI and AfDB’s joint initiative, La finance s’engage, has mobilised resources for hundreds of Ivorian start-ups, including a €1.108 million($1.17 million) project supporting 200 young entrepreneurs, nearly a third of them women.