Ambition Africa 2023 : a fifth edition to “strengthen and accelerate” Franco-African business
Ambition Africa, the Franco-African business meeting place, is returning to Paris on October 17 and 18 for its fifth edition. On the agenda: public and private sector leaders from both continents, conferences and business development opportunities!
« Africa is now one of the Agency’s three priorities because it is also a major national priority. It’s a region that benefits from special support and in which we have invested considerable resources: a network of 80 people across the continent, a dozen offices and around 20 private partners, » Marc Cagnard, Managing Director for Sub-Saharan Africa at Business France, told ANA at the end of the last edition of the event.
The aim is to conclude that « Africa: the growth continent of the 21st century » and then « Think about the Africa of tomorrow: what prospects? The main issues facing the continent will be discussed in 17 round tables on a range of topics, including agri-food issues (from raw materials to processing), water and waste treatment and, more generally, climate change, with a focus on the risks and opportunities for investors in Africa. Not forgetting cybersecurity, among other topics.
It is a region that benefits from special support and in which we have invested considerable resources
Kokou Edem Tengue, Togo’s Minister for the Maritime Economy, Fisheries and Coastal Protection, José Mpanda, DRC’s Minister for Agriculture, Diaka Sidibé, Guinea’s Minister for Higher Education, Scientific Research and Innovation, and Aissata Lam, CEO of Mauritania’s Investment Promotion Agency, are expected to attend. Chrysoula Zacharopoulou, State Secretary for Development, Francophonie and International Partnerships, and Gilberto Antonio, Senior Advisor to the Secretary General of AfCFTA, will also take part in the discussions.
In total, there will be 1,500 participants from over 40 countries and more than 2,000 B2B meetings. With one clear objective: to strengthen and accelerate economic relations between France and Africa.
France remains a leading investor in sub-Saharan Africa
Despite the challenges, France remains an important partner in the region. In 2022, trade between France and the WAEMU increased by 9.8% compared to 2021 to reach EUR 5.1 billion, according to data from the French Treasury. French exports to countries in the region rose by 6.8% to EUR 3.7 billion, 2/3 of which went to Côte d’Ivoire and Senegal. Côte d’Ivoire remains France’s number one customer in the WAEMU (number two in sub-Saharan Africa), ahead of Senegal, while agro-food and pharmaceuticals remain our main exports to the Union. French imports from the region rose sharply by 18.6% to EUR 1.4 bn, 75% of which came from Côte d’Ivoire (the fourth largest supplier in sub-Saharan Africa) and consisted mainly of agricultural and food products. As a result, France’s trade surplus with the WAEMU will remain virtually stable (+0.7% compared with 2021) at EUR 2.3 bn, 38% of which will come from Senegal.
Beyond trade, France remains a leading investor in sub-Saharan Africa. It will be the second largest foreign investor on the continent in terms of FDI stock in 2021, with USD 60 billion, behind the United Kingdom (USD 65 billion). The number of subsidiaries of French companies in sub-Saharan Africa more than doubled between 2010 and 2020, compared with a 51% increase worldwide over the same period. In terms of flows, French investment in Africa has continued the downward trend that began in 2015 and now represents only 2.5% of the stock of French FDI abroad (i.e. USD 31.9 billion).
Get involved : https://event.businessfrance.fr/ambition-africa/
Related : Ambition Africa : « Africa is one of the three priorities of Business France »
