Mabuza: Africa needs one voice as catalyst for investment

Africa, a continent rich in resources and opportunities, is poised for growth and development if it can present a united front to attract investment from developed nations. Busi Mabuza, the Chairperson at the Industrial Development Corporation, emphasized the need for Africa to speak with one voice to showcase the vast potential it holds for investors. In a conversation with CNBC Africa's Aby Agina during the 2024 annual meetings of the African Development Bank, Mabuza highlighted the importance of leveraging partnerships and collaboration to drive investment into the continent. Mabuza's presence at the African Development Bank's annual meeting underscored the commitment of South Africa and its collaboration with continental institutions like the AFDB. Through partnerships and critical projects, countries within the continent are working together to harness the opportunities present in Africa. Mabuza also mentioned the strategic positioning of South Africa in the BRICS Plus formation, alongside countries like China, India, UAE, and Saudi Arabia, as a means to attract investment and showcase the continent to a wider audience. One key aspect that Mabuza emphasized was the need for less export of raw materials from Africa and more beneficiation within the continent. By adding value to resources locally, African countries can retain economic benefits and contribute to the growth of their economies. Collaboration with organizations like the East African Business Council demonstrates a strategic approach towards amplifying the continent's investment potential. As South Africa headed to the polls during the week of the interview, Mabuza encouraged fellow citizens to exercise their right to vote, emphasizing the importance of participation in sustaining democracy. Her personal commitment to voting and the resonance of her message highlighted the value of civic engagement and its role in shaping the country's future. The call for unity and a cohesive voice in promoting Africa's investment potential reverberates across the continent. By aligning objectives, leveraging partnerships, and focusing on local value addition, African nations can position themselves as attractive destinations for investors. The collaborative efforts within Africa and its engagement with global partners signal a step towards realizing the continent's growth and development aspirations.