The concretization of an African private sector

The prioritization of development constraints in Africa is propelling the private sector among the key sectors that can pull both growth and political will by balancing the power relationship between the state and the private sector.
By providing economic thinking focused on the private sector, the Third Africa Emergence Conference used a geometric mindset needed to sort through Africa’s emergencies.

Through the platform of exchange that it offers, this conference provides tangible proof of the necessary cross-border vision that Africa must have on areas such as investment, entrepreneurship, the private sector and the emergence in General.
This conference seems to be that machine which will shake the moribund vitality of the African Union worn down by its infernal cycles of dynamism and torpor. It is perhaps this unexpected actor of African integration that the African Union and ECOWAS are struggling to achieve.

ICEA helps to understand the problems that Africans share in order to provide a global response. Infrastructures, youth unemployment, instability, the problem of funding are all bad news, evoked by President Macky Sall of Senegal, Mali’s Ibrahim Boubacar Keita and president Adesina Akinwumi of AfDB at the opening ceremony, along with France’s Ségolène Royale, former Minister of the Environment, Achim Steiner, Administrator of the UNDP.

Africa on several points is on the same wavelength and the private sector alone crystallizes a significant number of these ills. So the rise of the private sector will be a natural response to the impossible power of the states, the weakness of domestic resource mobilization, that of the African market and Africa’s lag in technology and digital.

Most African countries, as President Macky Sall has pointed out, have taken a break in their economic paradigm, which is reflected in the search for a structural transformation of their economy; Similarly, another breakthrough is taking place in the education system, which is slowly changing to focus on the new technologies and digital technologies that are the Grail of a landmark emerging country like Malaysia.

To this must be added the need for another break which is the bureaucratic break to push youth to entrepreneurship. We have a youth whose professional philosophy is to seek to protect themselves from the market by becoming employees of the private or the public service instead of wanting to conquer the market through entrepreneurship: it is said that the best way to become rich is to create a business.

The weakness of the private sector in Africa is both an evil and an indicator of our level of development: no country has emerged, affirmed the president of the national council of the employers Baidy Agne, without the development of his private sector which has the ability to accelerate growth dynamics.
The state needs the private sector that needs the state and the complexity of this relationship is manifested in the permanent search for a balance between the growth of local businesses and the tax burden, between the use of the foreign expertise and local expertise, between the competition of foreign companies and local businesses, between the financing of local businesses and that of social protection.

But states must not be alone in the search for this balance. The private sector must rely more on its independence, organization and creativity because the true ally of the private sector in my judgment is the African private sector; the optimum growth in Africa can only be achieved if African countries link together their men and their resources.

This necessitates the emergence of dynamic bodies and institutions representing the African private sector, which certainly needs the state and its reforms in the business environment, for example, but must also be a sort of spur to the political will given the role it plays in a society through the creation of wealth and jobs.