By Stephen V. Lansana
Freetown, October 10, 2024 — The Africa Development Conference (ADC), themed “Empowering Africa: Driving Inter-Trade Partnerships and Investment,” commenced on Tuesday, October 10, 2024, at the Bintumani International Conference Hall in Freetown, Sierra Leone. The two-day event, organized by the Bold Solutions Group in partnership with the Sierra Leone Local Content Agency (SLLCA), gathered government officials, private sector leaders, entrepreneurs, and development partners from across Africa. The goal: to explore strategies for strengthening inter-African trade and boosting investment opportunities.
Sponsored by the ADC, SLLCA, ILO-Opportunity Salone, Ministry of Technical and Higher Education, Ministry of Tourism and Cultural Affairs, Leone Rock Company, and Africell, the conference serves as a platform to foster collaboration and innovation across key industries in Africa.
Sierra Leone’s Director General Highlights Potential
In his opening remarks, Fodeba Daboh, Director General of the SLLCA, emphasized the conference’s significance in advancing Africa’s economic potential, underscoring Sierra Leone’s contributions. “As we stand at a decisive moment in our history, we recognize the immense possibilities that lie within Africa. Our rich natural resources, vibrant cultures, and innovative spirit are key assets that can drive sustainable development and economic growth,” he stated. Daboh further stressed the importance of leveraging local content to achieve self-sufficiency, noting that the event provides an opportunity for diverse stakeholders to collaborate on building a prosperous Africa.
Keynote Address: The Roadmap to Empowering Africa
Delivering the keynote address on behalf of the Minister of Trade and Industry, Deputy Minister Fatmata Kargbo outlined Africa’s path toward economic empowerment. She urged African leaders to build on the values of unity, solidarity, and collective determination to ensure inclusive growth across the continent. “We envisage an Africa where economic growth benefits all, where innovation thrives, and where our people enjoy peace, security, and dignity,” Kargbo declared.
She emphasized four critical areas for achieving this vision: agriculture, mining, manufacturing, and the service industries. Highlighting Sierra Leone’s commitment to food sustainability under the leadership of its President, Kargbo called on African governments to prioritize investment in a robust manufacturing base that supports inter-African trade.
Unlocking Africa’s Mineral Wealth
Discussing the role of the mining sector, Kargbo pointed to its untapped potential for driving economic growth. However, she emphasized the need for regional and continental value chains focused on value addition and skills development, rather than raw mineral exports. “We must invest in processing and refining resources locally. This will create jobs, boost local economies, and increase revenues for our countries,” she added.
Harnessing the Power of AfCFTA
Kargbo lauded the African Continental Free Trade Area (AfCFTA) as a game-changer for the continent, stressing that every African country can benefit from the agreement, regardless of size or economic status. By harmonizing trade regulations and reducing tariffs, AfCFTA will foster smoother trade flows and promote a more integrated African economy, she said.
Empowering the Private Sector
The Deputy Minister also called for stronger support for Africa’s private sector, which she described as the engine of economic growth. Kargbo encouraged entrepreneurship, innovation, and the empowerment of Small and Medium Enterprises (SMEs) through policy reforms, improved access to finance, and capacity-building initiatives.
Conclusion and Future Prospects
The conference concluded with panel discussions and the presentation of awards, offering participants the chance to share insights and experiences on driving inter-trade partnerships and investment in Africa. As Daboh noted, these collaborative efforts are crucial in shaping a roadmap for Africa’s collective future.
The discussions are expected to enhance trade relations, foster strategic partnerships, and develop policy recommendations to support trade and investment across the continent.