Despite decades of promise, Africa has struggled to sustain rapid, inclusive growth - but demographic shifts and the African Continental Free Trade Area AfCFTA may offer a real turning point. However, given the increasing interest in the continent's resources, its youth-heavy demography and the rolling out of the AfCFTA as the world's largest single market, the time seems right for the continent to ride the momentum and finally embark on a period of accelerated growth. Translating this potential into reality will, however, require regional regulatory harmonisation, improved capital mobilisation and high-level cross-border collaboration.
A better-coordinated and pragmatic approach is essential to translate Africa's demographic and resource advantages into faster, more inclusive growth.
Participants at the roundtable, from both the private sector and a number of African public institutions, agreed that the private sector is a vital actor in the continent's development story and that it has shown itself more than willing to step up into this role.
As an example of the role that the private sector can play, the roundtable heard excerpts from a new study by The Coca-Cola Africa system which was released during the US-Africa Business Summit.
In 2024, the Coca-Cola system generated, through its value chain, 10.4bn in economic activity across 54 African markets, supporting over one million jobs, whilst sourcing 83 of its procurement from local suppliers and local value chains. In sum, the impact of the Coca-Cola system on local economies is an example of how international brands and local players can have a deeply positive impact on local economic activity.