The event targeted business and tourism opportunities available in Africa, and the ATB Executive Chairman was there to speak on behalf of the association at the Nairobi, Kenya, forum.
The African Tourism Board Executive Chairman traveled to the Kenyan capital, then participated in the just-ended, three-day business forum that was organized by the East African Community (EAC) and the African Union (AU), targeting private sector actors and financial institutions in Africa.
In recognition of the vital role and contribution of tourism in Africa, the ATB Executive Chairman said that Africa needs to develop innovative strategies that focus on promoting regional value chains, expanding Small and Medium Enterprises (SMEs), and increasing productive capacity.
Other strategies that would help Africa achieve its economic development include development of digital infrastructure, empowering women and youth entrepreneurs, and promoting climate action, Mr. Ncube said.
“Governments, international development partners, and the private sector must collaborate, coordinate, and implement collaborative strategies and prioritize activities that will promote economic progress and social stability in Africa.”
The ATB Executive Chairman added what he said to the forum delegates and the international media in Nairobi stating, “When these measures are taken, the full potential of the African Continental Free Trade Area will be realized and its success will serve as a model for regional integration and economic growth in Africa.”
More than 500 participants from Africa and outside the continent attended the high-level forum which attracted top public policymakers from various African states.
The overall objective of the forum was to strengthen the linkages between regional and continental markets for increased trade and investment.
Mr. Ncube pointed out that governments and private sector enterprises should focus on developing innovative financing mechanisms, promoting financial inclusion, and developing public-private partnerships that will provide access to capital for SMEs and other entrepreneurs.
The three-day forum carried a theme of “Public and Private Sector Engagement for Inclusive Growth and Sustainable Development while Deepening Regional and Continental Trade and Investment towards Implementation of the African Continental Free Trade Area (AfCFTA).”
Dismal investment inflows, trade barriers, access to finance, climate change, high cost of transport, level and efficiency in production, diverse regulations, and slow implementation of the agreed commitments in the various trade agreements have all slowed down economic development in Africa.
Other development retarding factors facing Africa were the low awareness of investment and business opportunities that ultimately limit trade and investment in most African countries.
Mr. Ncube said that a creative economy covers a broad range of industries such as music, film, fashion, and crafts which creates a significant contribution to Africa’s economic growth, job creation, and overall development.
To fully leverage the potential of the creative economy, there is a need to raise awareness of its significance in promoting inclusive and sustainable development and deepening trade at all levels such that policies and strategies geared towards promoting the creative economy are designed, enacted, and implemented.
Access to finance continues to be a major impediment to economic growth and development in Africa, concluded the ATB Executive Chairman who aired the continent’s tourism views at the forum.
Under the patronage of its Executive Chairman Mr. Ncube and other tourism senior executives and patrons, the African Tourism Board is a pan-African tourism organization with a mandate to marketing and promoting all the 54 destinations, thereby changing the narratives.
@media (max-width: 1200px) {
Read more: African Tourism Board President at High Level Business Dialogue
Copyright: eTurboNews is Travel Industry News – Travel & Tourism Story Telling Exposed
| Continue reading: https://eturbonews.com/african-tourism-board-president-at-high-level-business-dialogue/
