By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Starr FmStarr FmStarr Fm
  • Home
  • Election Hub
  • General
    GeneralShow More
    24-hour economy: Play Ghanaian music 24/7 to grow local industry – Rocky Dawuni
    July 18, 2025
    Mechanic sentenced to life imprisonment for killing 9-day-old baby with acid at Prampram
    July 18, 2025
    We’ll provide infrastructural support for STEM schools in underserved areas – Dr. Apaak
    July 18, 2025
    Education Minister commends Father Campbell Foundation, pledges continued support
    July 18, 2025
    Western Region GJA launches CSI initiative to promote strategic community investment
    July 18, 2025
  • Business
    BusinessShow More
    Dr. Johnson Asiama speaking at the Graphic Business/Stanbic Bank Breakfast Meeting on forex and economic growth
    The Cedi will hold – BoG Governor assures stability
    July 18, 2025
    BoG vows to safeguard economic gains while supporting recovery
    July 18, 2025
    Data must be treated as core infrastructure to achieve SDG 8– Government Statistician
    July 17, 2025
    Opening of QNET Compliance Office symbolic – CID Boss
    July 16, 2025
    GRA begins GHS1 fuel levy today
    July 16, 2025
  • Politics
    PoliticsShow More
    Govt taking steps to integrate Licensure Exams into final assessments – Haruna Iddrisu
    July 18, 2025
    Agenda 111: Akandoh reveals over GH¢1bn debt with no hospital operationalised
    July 18, 2025
    We inherited almost GH¢12.68bn debt from previous gov’t – Health Minister
    July 18, 2025
    Asamoah Boateng urges NPP delegates to oppose proposals that exclude expansion of electoral college
    July 18, 2025
    Bagbin submits final batch of Deputy Minister nominees for vetting
    July 18, 2025
  • Entertainment
    EntertainmentShow More
    I want music to be my legacy, not fame – Rocky Dawuni
    July 18, 2025
    The sense to minister with music came early – Rocky Dawuni
    July 18, 2025
    “You can’t be a Black man and worship a white God” – Rocky Dawuni
    July 18, 2025
    I started a church at age 7 – Rocky Dawuni shares childhood faith story
    July 18, 2025
    I worked hard just to meet Stevie Wonder – Rocky Dawuni
    July 18, 2025
  • Sports
    SportsShow More
    Ghana’s para-athletes set off for South Africa ahead of 2026 Commonwealth Games
    July 18, 2025
    University of Ghana stadium to host WAFU B U-20 finals
    July 17, 2025
    “I’m done with Galamsey”: Kumasi miner quits after winning GH¢2 million on betPawa Aviator
    July 17, 2025
    A Fight for Fairness and Creative Rights: CAF yet to pay Kobby Spiky a year after court ruling on copyright
    July 17, 2025
    EIB Network confirmed as official broadcaster for 2025 GHALCA Top 4
    July 17, 2025
  • Technology
    TechnologyShow More
    Osman Ayariga speaking on youth empowerment and AI at World Youth Skills Day event
    “Youth should not see AI as competition, but as a digital tool” – Osman Ayariga
    July 17, 2025
    Samsung Introduces Future-Ready Mobile Security for Personalized AI Experiences
    July 16, 2025
    Samsung Electronics acquires Xealth, bridging the gap between wellness and medical care
    July 16, 2025
    Samsung Galaxy Z Flip7: A pocket-sized AI powerhouse with a new edge-to-edge flexwindow
    July 10, 2025
    Real Quantum Dot Technology in Samsung QLED TVs
    June 29, 2025
  • International
    InternationalShow More
    Education Minister Haruna Iddrisu signs MoUs with GEICO and CMS Group for new public universities
    Education Minister signs MoUs with GEICO, CMS Group to establish two public universities
    July 15, 2025
    Presidency terminates Zoomlion’s contract over concerns of impropriety and inflated billing
    Mahama pushes AU–CARICOM partnership to strengthen global reparations push
    July 14, 2025
    47th AU Forum: Ablakwa criticizes $1.2m AfCFTA allocation as ‘highly insufficient’
    July 10, 2025
    Minority demands audit over $1.2m passport relaunch cost and delays
    July 9, 2025
    Minority demands compensation for citizens stranded by US embassy closure
    July 9, 2025
  • Factometer
Search
© 2024 EIB Network Ltd. All Rights Reserved.
Reading: Global Africa Network launched at the maiden Global Africa Forum in New York
Share
Notification Show More
Font ResizerAa
Starr FmStarr Fm
Font ResizerAa
  • Headlines
  • Election Hub
  • General
  • Politics
  • Sports
  • Business
  • Entertainment
  • Factometer
Search
  • Headlines
  • Election Hub
  • General
  • Politics
  • Sports
  • Business
  • Entertainment
  • Factometer
Have an existing account? Sign In
Follow US
© 2024 EIB Network Ltd. All Rights Reserved.
BusinessEditors Pick

Global Africa Network launched at the maiden Global Africa Forum in New York

Starrfm.com.gh By Starrfm.com.gh Published September 26, 2023
Share
SHARE

The Africa Prosperity Network (APN) in collaboration with the African American Institute (AAI), have launched the Global Africa Network, as a platform to galvanize Global African (African Diaspora) with access to funds to channel their investment portfolios into Africa.

The Network was launched at the maiden Global Africa Forum convened on the margins of the 78th UN General Assembly in New York. The theme for the forum was “Mobilising Global Africa Investments to boost Intra-African Trade”

The forum was held on the 21st of September and was attended by several African policy and business leaders as well as leading Global Africans.

Leaders at the forum used the platform to invite Global Africans to be intentional about being part in the development of Africa.

In his address, President Akufo-Addo said it is time for Africans to spend their monies in African to make continent the wealthy place it ought to be. He thus extended an invitation to Africa’s living in the diaspora (Global Africans) to turn their investment sets to the continent, noting that with the coming into being of the Africa Continental Free Trade Area (AfCFTA), the stage is set for the continent to attract their investments for its industrial development and transformation.

“Like the vision of our forebears, the AfCFTA sets the stage for Africa’s industrialization and transformation. What is required now is for our respective governments and businesses to show bold leadership. We need coherent and complimentary strategic actions by governments and businesses.

“The right mix of policies and strategies for exports, value addition to raw commodities and a greater sense of purpose to ensure a robust intra-Africa trade, to drive agricultural growth, economic diversification and the much-needed industrialization of the continent” President Akufo-Addo said.

“As the saying goes, nothing succeeds as much as success. If we work at it, if we stop being beggars and spend Africa’s money inside the continent, Africa would not have to ask for respect from anyone, we will get the respect we deserve.

“Twenty years ago, thirty years ago, China was not where it is today. China does not ask anyone for respect today, she does not need to. Let us make our continent the joyful and prosperous place it should be and the respect will follow” Akufo-Addo added. 

Concrete areas of investment

Secretary-General of the Africa Continental Free Trade Area (AfCFTA) secretariat, Wamkele Mene, addressing the gathering on available areas of opportunity that the AfCFTA believes are accessible to potential investors to explore on the continent, noted that, the AfCFTA has identified some four (4) major areas of interest.

He indicated that the areas as identified by the AfCFTA are the manufacturing sector, the pharmaceutical industry, the agriculture sector and the newly created one (1) billion dollars AfCFTA adjustment fund which has been established to support productive sector investments.

“The fund is not intended for budget support. It is intended for productive sector investments. What we envisage is that you as the diaspora with global capital, will see the adjustment fund as a vehicle for channeling your investment and to see returns on your investments” Wamkele Mene said.  

“This are the four areas that we have identified which are concrete, which we believe will be long lasting and impactful and will create job opportunities in Africa so that millions of young Africans stop being buried deep in the Mediterranean. We can create jobs for them at home on the African continent and that is why I think this dialogue is so very important” he added.

Necessary actions

On his part, Kofi Appenteng, the President and Chief Executive Officer of the African American Institute (AAI), observed that there are three things that governments on the African continent need to take action on in order to create an enabling environment to attract funds from existing diaspora networks.

The first he said is ease of travel and the challenges that exist with getting visas to be able to travel to the African continent on short notice. According to the AAI president, “if you (Africa) want to create an enabling environment for investments, people need to be able to travel easily”.

“This is something that is within the power of African countries to do something about and it is in line with the African Continental Free Trade Area. We are not going to have the opportunity to create this market if travel continue to be difficult” Kofi Appenteng said.

“The other is, for those who do not have citizenship of any African country, there needs to be the ability for a pathway for residency and also citizenship, because if you are really going to make long term investments, you are going to really need to know that if you go and sit, watch your money and make partnership, etc., that you can do so [safely and freely].

“This is something that again is in the control of African governments”. The last concern has to do with the real estate sector and the ability to buy real estate or houses” Mr Appenteng added.  

Economic integration

Executive Chairman of the Africa Prosperity Network (APN) and Senior Partner of the Africa Legal Associates (ALA), Gabby Asare Otchere-Darko, stated that the economic integration of Africa is the surest pathway to guarantee the continent’s peace, security and prosperity for all her peoples.

 The best way to achieve this integration in Mr Otchere-Darko’s view, is to have a mindset of Africa without borders. The concept of global Africa he said, will be much more meaningful and find expression if the continent gets rid of the borders that are dividing her currently.

He told the gathering that investors who are not Africans in any shape or form, have invested in Africa and their investments have become profitable. The “global African,” Mr Otchere-Darko said, must see the need to also invest in the continent with profitability as a target.

“Back in January 2021, we (Africa) gave birth to the Africa Continental Free Trade Area (AfCFTA) which potentially means that we are creating a single largest economy in the world by virtual of the AfCFTA. If that is going to happen, then every man and woman of African descent, should see the role that they can play in that” Gabby Otchere-Darko said.

The Chinese, he said, have also caught the vision and are investing heavily in Ghana and other parts of the African continent because they fore-see that sooner rather than later, Africans will stop traveling to China to purchase their products and so they see the need to build their factories right on the continent.

America to Mr Otchere-Darko, is doing very little in this regard in Africa, however, he noted that it is time for the Africa American, the global African, to wake up to the reality and believe in the continent as a viable place to invest their capital.

Global Africa Network Launched

Executive Chairman of APN, Gabby Otchere-Darko, in launching network noted that since the 21 September is the birthday of Ghana’s first President Dr Kwame Nkrumah, it was appropriate for him to the start with a quote from the former President some 60 years ago when the OAU (Organization of African Unity) was created.

“The resources are there; it is for us to marshal them in the active service of our people. Unless we do this by our concerted effort, within the framework of our combined planning, we shall not progress at the tempo demanded by today’s events and the mode of our people.

“The symptoms of our troubles will grow and the troubles themselves, become chronic. It will then be too late for pan African unity to secure for us stability and tranquility in with our neighbours for a continent of social justice and material well-being” Mr Otchere-Darko said in quoting the late Dr Kwame Nkrumah.

The Network

To serve as a platform for Global Africans to engage with African leaders on critical areas for investments.

To serve as a platform for the African private sector to forge partnerships with Global Africans.

Membership of the network is open to Diasporan associations, fund managers, investment brokers and asset managers.

The Africa Prosperity Network, the Africa-America Institute and the UNDP’s Regional Bureau for Africa will work together to manage the activities of the Network by creating such platforms for members to engage with the African continent.

Source: Ghana/Starrfm.com.gh/103.5FM

You Might Also Like

The Cedi will hold – BoG Governor assures stability

I want music to be my legacy, not fame – Rocky Dawuni

BoG vows to safeguard economic gains while supporting recovery

The sense to minister with music came early – Rocky Dawuni

“I see God in everybody” – Rocky Dawuni on unity beyond race or tribe

TAGGED:Global Africa Networknew york
Share This Article
Facebook Twitter Email Print
Share
Previous Article Starr Assurance introduces the ‘Star Motor Third Party Xtra’
Next Article IGP’s superior policing tactics in Upper East – Owula Mangortey writes to Bagbin

Starr 103.5FM

Starr FmStarr Fm
Follow US
© 2024 EIB Network Ltd. All Rights Reserved.
newsletter icon
Join Us!

Subscribe to our newsletter and never miss our latest in news, podcasts etc..

[mc4wp_form]
Zero spam, Unsubscribe at any time.
adbanner
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist
Welcome Back!

Sign in to your account

Lost your password?