Bank Supports Private Sector Development in Central Africa
The African Development Bank’s Regional Department for Central Africa, ORCE, and the African Development Institute co-organize a regional seminar on promoting private sector development in the Economic Community of Central African States (ECCAS) to take place on November 28-29 in Libreville, Gabon.
Approximately 40 participants are expected to attend the event, representing 10 countries in the ECCAS region, including Angola, Burundi, Cameroon, the Central African Republic, Republic of the Congo, Gabon, Equatorial Guinea, the Democratic Republic of Congo, São Tomé and Príncipe, and Chad. The seminar brings together representatives from member states, regional economic communities, the private sector, civil society, local and regional financial institutions, as well as organizations and partners involved in private sector development.
Central Africa is one of the richest regions in terms of natural resources (petroleum, minerals, mining, forestry, water, agriculture). However, its economic remains heavily reliant on the extractive industries, and the emergence of a private sector outside the petroleum industry remains far off. In this regard, the reinforcement of the region’s economic potential outside the petroleum industry has become crucial to improving the investment environment.
The seminar program will include the launch of a regional study on the dynamics of investment and principal constraints in the ECCAS zone. A high-level dialogue is expected to be held on the findings of the study, with an emphasis on the business environment, investors and the role of the public and private bodies in the promotion of private sector investment; the dynamic between the private and public sectors; economic factors and their impact on private-sector investment; and the role of the AfDB in private sector development; among other themes.
The Libreville meeting provides an opportunity to reinforce cooperation between the AfDB and the different stakeholders engaged in private sector development in Central Africa.