Strengthening Africa's global trade position through multilateral partnerships

Africa's position on the global stage has been continually evolving, with a focus on trade, geopolitics, and economic growth. CNBC Africa recently interviewed Denys Denya, the Executive Vice President for Finance, Administration & Banking Services at Afreximbank, who emphasized the importance of Africa's active participation in global discussions. Denya highlighted that Africa, representing 17 percent of the world's population, must have a seat at the table when key global issues are being debated. He emphasized the role of technology, particularly artificial intelligence, in driving business growth and the need for Africa to be actively engaged in shaping the future of trade and geopolitics worldwide. Afreximbank, as a partnership organization, plays a vital role in promoting and financing trade across Africa. Denya pointed out that the bank's diverse shareholder base, comprising both African and non-African entities, underscores the importance of collaboration and trust among partners to enhance trade relationships. The focus on developing partnerships with governments and the private sector is central to Afreximbank's mandate of facilitating economic development through trade. The recent achievement of a triple A rating from Chinese rating agencies has opened up new avenues for Afreximbank in terms of fundraising. The successful issuance of a samurai bond in Japan and the potential for a panda bond in China underline the bank's commitment to leveraging international partnerships to support intra-Africa and China-Africa trade. Denya highlighted the growing trade volumes between China and Africa, emphasizing the need to capitalize on this trend to further boost economic growth and development on the continent. During meetings at Davos, Afreximbank engaged with various national governments and institutional stakeholders to explore business opportunities and address critical issues in Africa's healthcare sector. The focus on building world-class hospitals and fostering research partnerships with institutions like Novartis demonstrates the bank's commitment to enhancing healthcare infrastructure and advancing medical research in Africa. Additionally, discussions with government officials from countries like the Democratic Republic of Congo and South Africa underscored the importance of collaborative efforts to drive regional and continental development initiatives. As the world grapples with increasing fragmentation, Denya emphasized the significance of rebuilding trust and fostering collaboration among multilateral institutions and stakeholders. The economic shocks brought about by events like the COVID-19 pandemic underscore the critical role of organizations like Afreximbank in mitigating risks and supporting sustainable economic growth. Building trust through transparent and mutually beneficial partnerships is essential for achieving shared objectives and addressing global challenges. In conclusion, Africa's growing influence in global trade is underscored by the proactive engagement of institutions like Afreximbank in fostering multilateral partnerships and driving economic development across the continent. By leveraging international relationships, prioritizing trust and collaboration, and focusing on key sectors like healthcare and industrialization, Africa is poised to play a significant role in shaping the future of global trade and geopolitics.