The AFRICA CEO FORUM will take place online from 28 to 30 September 2021, with more than 1000 African private sector leaders and international investors. During this digital edition, the industrialization of Africa will be one of the main themes with rich and inspiring debates.
On this occasion, the AFRICA CEO FORUM announces the publication of an analysis and recommendations report on Special Economic Zones (SEZ) in Africa, in partnership with OKAN (strategy and finance consultancy dedicated to Africa).
Setting up an attractive framework for investments, maximizing the social impact, supporting local competitiveness at a time of globalization: these are the key issues to prepare Africa for tomorrow’s world.
Despite remarkable successes, notably in China, African SEZs have not succeeded in industrializing the continent to date.
Based on nearly 20 case studies, from Tangier in Morocco to Mauritius, including Hawassa in Ethiopia, Lekki in Nigeria, Nkok in Gabon and the “three borders” SEZ in Cameroon, Gabon and Equatorial Guinea, this report presents six pragmatic and ambitious recommendations to make SEZs true catalysts for the industrialization of the African continent.
It is based on the study of African success stories, as well as on best practices to draw up recommendations for investors and entrepreneurs.
Download the report
237 ZONES CREATED IN AFRICA
According to estimates, SEZs (geographical zones that benefit from tax and customs incentives and simplified administrative procedures, among other things) have made it possible to boost 20% of exports in developing countries* and to create 100 million jobs in total. These zones are recognized as an attractive framework for foreign investment and encourage the creation and strengthening of public and private industrial projects.
In Morocco, Mauritius, Madagascar, Ethiopia and Gabon, SEZs have created more than 300,000 jobs and contributed significantly to the dynamism of exports. Since 1970, 237 SEZs have been established across Africa, including in Kenya (61), Nigeria (38) and Ethiopia (18). Today, almost every African country has at least one SEZ. Indeed, the continent, which can rely on two important comparative advantages, thanks to a strong cost competitiveness on wages, and advantageous trade agreements with the main markets (United States, European Union), offers a unique opportunity for its industrialization and development.
TOWARDS A NEW AFRICAN MODEL
However, many companies located in African SEZs suffer from the quality of infrastructure and services offered within the zone and success is not forthcoming.
Source: UNCTAD
By drawing lessons from both failures and successes, the objective of this report is to assist policy makers and investors by making six recommendations for the emergence of a new SEZ model as a catalyst for the industrialization of the continent.
PRAGMATISM AND AMBITION
Choosing a suitable location with an abundant and qualified labour pool, for example, to fit into the national industrial strategy by meeting specific needs from relevant priority sectors of activity, create an adapted and attractive regulatory and fiscal framework through a one-stop shop and aim at sustainable industrialization from the design stage are all concrete recommendations to prepare Africa and its economic leaders for the emerging environment and the challenges posed by a new world economic order (fight against climate change, reorganization of global value chains or accelerated digitalization…).)
Download the report
#ACFDIGITALEDITION
Private sector leaders, experts and public policy makers will discuss these recommendations and strive to address these issues at the AFRICA CEO FORUM Digital Edition, from 28 to 30 September 2021.
“The publication of these strategic recommendations echoes the raison d’être of the AFRICA CEO FORUM: to foster the growth of conquering continental champions and a private sector that is aware of its responsibilities in the service of an Africa that is asserting itself on the international scene and of the continent’s major development challenges,” comments Amir Ben Yahmed, Founder and President of the AFRICA CEO FORUM
About the AFRICA CEO FORUM
Founded in 2012, the AFRICA CEO FORUM is the reference platform for the private sector, bringing together decision-makers from Africa’s largest companies, international investors, multinational executives, heads of state, ministers and representatives of the main financial institutions active on the continent.
A place for high-level meetings, experience sharing and deciphering trends affecting the business world, the AFRICA CEO FORUM aims to propose concrete and innovative solutions to move the continent and its businesses forward. Through its Women Working for Change and Family Business initiatives, it also aims to increase the representation of women in decision-making positions on the continent and to support the transformation of African family businesses.
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About OKAN
Founded in 2011, OKAN is a strategy and finance consulting firm dedicated to Africa. OKAN supports all the actors of the economic and social development of Africa (private and public), offering its clients the best services for the success of their critical projects.
- Strategy consulting: corporate strategy / public strategy, project structuring, implementation support
- Financial advice: fund raising (debt, equity), mergers & acquisitions
For more information: www.okanpartners.com