The incumbent of the African Union said during the launch of the forum that it will work with African countries to provide investors with stable standards, transparent incentive regimes and respected contracts.

Lourenço, who introduced the meeting in the context of the World Summit of Governments taking place in Dubai, UAE, stressed that Africa is ready to explore new ways to attract global capital and added that it is a paradigm shift on this issue.

“Recent trends in global geopolitical alignments and realignments send a very important signal to Africa: the continent must develop through disciplined investment,” he said.

Recalled that the continent has 40 percent of the world’s reserves of minerals, metals and rare elements, key to the global energy transition and especially for renewable energy generation; as well as minerals for battery storage systems and electric vehicles.

He also stressed that natural gas in its geography can boost the energy systems of the world; while the forests and biodiversity of the continent are part of the balance of resources for development.

“Africa must increasingly take advantage of these sovereign assets, monetizing them to generate value.

This is precisely what the Global Investment Summit in Africa will support African countries,” he said, adding that the aim is to build a future with lasting impact for Africans and the world.

The meeting is an initiative led by the African Development Bank, supported by APCO, a global advocacy and advisory firm.

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