Africa urged to develop the right tax incentives

At the EU-Africa Union Business Forum in Belgium, Pierre Gattaz, the President of the Movement of the Enterprises of France MEDEF, emphasized the importance of fostering business-friendly environments in Europe and developing the right tax incentives in Africa to drive growth and development. Gattaz expressed optimism about the potential for economic cooperation between Europe and Africa, particularly with the pro-business stance of French President Emmanuel Macron. He highlighted the need for small and medium enterprises (SMEs) to expand their presence in Africa, beyond the traditional focus of large international companies. Gattaz emphasized the importance of creating sustainable local jobs in Africa through partnerships and investments in SMEs. He pointed out the demographic and economic growth opportunities in Africa, urging European businesses to seize the chance for mutually beneficial collaborations. The conversation also delved into the significance of investing in so-called fragile states in Africa, with Gattaz underscoring the crucial role of business development in fostering political stability and sustainability. He mentioned the keen interest of the young generation in Africa in driving entrepreneurship and digital innovation, highlighting the continent's potential for growth in various sectors. Additionally, Gattaz discussed the importance of job creation in Africa and emphasized the need for motivated business leaders and conducive business environments to attract European investment. The discussion on tax incentives and financial support for SMEs underscored the importance of addressing real business challenges on the ground while ensuring sustainable long-term growth. Gattaz emphasized the need for holistic approaches that combine financial support, education, and technical skills development to create a robust ecosystem for business growth in Africa. The conversation concluded with a call to action, emphasizing the urgency of initiating concrete projects and actions on the ground to leverage the opportunities presented by Africa's digital revolution and economic potential.