One of the world’s leading financial groups, Mitsubishi UFJ Financial Group (MUFG), is partnering with Invest Africa, the leading trade and investment platform for the Continent, to support the region’s drive towards a sustainable recovery in the wake of the Covid-19 pandemic.
The partnership will focus on Invest Africa’s annual flagship conference, The Africa Debate, which regularly assembles African policy makers and business leaders to debate the most pressing issues shaping the Continent’s economies and societies.
Dr. Christopher Marks, Managing Director and Head of Emerging Markets, EMEA at MUFG will today discuss the commitments needed to ensure that Africa is not left behind in the global recovery with Professor Benedict Oramah, President of Afreximbank, Dr. John Nkengasong, Director of Africa CDC, Sérgio Pimenta, Vice President, Middle East and Africa, International Finance Corporation (IFC) and Abebe Aemro Selassie, Director for Africa, International Monetary Fund (IMF).
Earlier this year, the World Economic Forum called on leaders to seize the “unique window of opportunity to shape the recovery” and framed the challenge as “The Great Reset”. Despite this momentum, the pandemic has also deepened global inequalities, prompting the IMF to warn against the dangers of a “two-speed recovery”. It has been estimated that the pandemic has pushed up to 40 million people in Sub-Saharan Africa into extreme poverty with limited to vaccines undermining a return to growth.
However, the global nature of the Covid-19 pandemic also represents an opportunity to mobilise sustainable capital towards investments in emerging markets, including Africa. The Forum is supported by the Government of Ghana with President Nana Akufo-Addo and key ministers set to address investors and businesses on investment opportunities in Ghana as well as the wider region.
Now in its 7th year, The Africa Debate will provide the platform to amplify the priorities of the region’s leaders as they seek to secure the essential health measures and long-term investments that will drive progress towards the sustainable development goals in Africa.
Karen Taylor, CEO of Invest Africa said, “The aim of The Africa Debate has always been to drive sustainable finance towards the Continent. This year, we are delighted to have the support of MUFG, showing the continued interest from global markets in investment opportunities in Africa. Strong collaboration between the public and private sectors will be essential to the Continent’s recovery and we look forward to a fruitful discussion led by MUFG.”
Dr. Christopher Marks, Managing Director and Head of Emerging Markets, EMEA, MUFG commented, “The long tail of the pandemic will not only reset but no doubt reshape Africa’s growth and human welfare trajectory. We are unarguably in a moment of maximum uncertainty. But for domestic policy makers as well as international investors and partners, the post-pandemic recovery opens opportunities borne of new priorities, even as the broad drivers of change on the Continent—digitalisation, urbanisation, climate resilience— have not lost their importance. The Africa Debate has never been more relevant.”