The ECOWAS Bank for Investment and Development garnered Leaders in Finance and Business from across the African Landmass to Bolster Agrarian and Food Security in Western Africa

By Abdul Rahman Bangura-

Photo Credit: ECOWAS

NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- Victoire Tomegah Dogbé – Togo’s Prime Minister opened the forum, held under the theme ‘Transforming ECOWAS Communities in a Challenging Environment’.

She laid premium on the essence for a wide range of investment across human capital, energy, the digital economy, and infrastructure.

Director-General of the World Trade Organization (WTO) – Ngozi Okonjo Iweala spoke by video about how regional integration can rejuvenate investments. Simon Tiemtore – President of Vista Group Holding, and Kanayo Awani – Executive Vice President of the African Export-Import Bank (Afreximbank) emphasized on the critical role of collaborative strides and innovative strategies to advance investment priorities.

Discussions during the forum addressed significance topics such as food security, fortifying agricultural supply chains, and enhancing security in West Africa.

Panelists proposed strategies for tackling challenges in agriculture, emphasizing the importance of cooperation and innovation for sustainable development.

They prioritized major challenges around access to finance, which seriously affects small businesses, especially for agribusinesses and young
entrepreneurs. Amongst the solutions discussed were ways development finance institutions such as EBID could make facilitate access to loans.

This is one of the issues that the International Trade Centre (ITC) addresses with the ECOWAS Commission through the West Africa Competitiveness Programme (WACOMP). WACOMP accelerated the participation of nine investment promotion agencies from West Africa. These agencies showcased investment projects in their nations. The delegates engaged with business leaders on investments in significant sectors such as agriculture, infrastructure development, support to small businesses, energy and climate change.

Participants deliberated on serious projects and investment chances, with a central concentration on creating employment, financing infrastructure, and marrying climate-resilient energy solutions. Along with ITC and the ECOWAS Commission, the delegation met with EBID management on how to revamp ties to enable the flow of investment in the region.

For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent