Angolan President João Lourenço announced on Tuesday (3) in Dubai, at the launch ceremony for the Global Investment Summit in Africa, that the high-level meeting will be hosted later this year in Luanda, Angola.
João Lourenço said that the event is a moment of collective mobilization to reaffirm that Africa is prepared to explore new ways of attracting global capital.
The acting president of the African Union (AU), who is nearing the end of his term, said that there is a major paradigm shift in how to attract investment to the continent, bearing in mind the need to unlock the value of its sovereign assets to accelerate development and growth and achieve Agenda 2063, the “Africa We Want.”
“Recent trends in global geopolitical alignments and realignments send a very important signal to Africa: we must develop through investment discipline. Our continent, with 40% of global reserves of minerals, metals, and rare elements, holds the key to the global energy transition, especially for renewable energy generation and the minerals needed for battery energy storage systems and electric vehicles,” said João Lourenço.
According to the Angolan President, locally produced natural gas can power energy systems around the world, and its forests and biodiversity make nature part of the global balance of resources for development.
“We must increasingly take advantage of these sovereign assets, monetizing them to unlock value. This is precisely what the Global Investment Summit will support African countries in doing,” he stressed.
The Angolan head of state stressed that this initiative represents an institutional bridge that, if well structured, will connect Africa to global investors in a secure, sustainable, and mutually beneficial way.
“The Global Investment Summit will work with African countries to offer investors this predictability, with stable rules, transparent incentive schemes, and respected contracts,” he said.
With regard to Angola, João Lourenço listed the structural reforms “with a major economic and social impact” underway in the country, calling for joint work through the Global Investment Summit in Africa to build a “future that will have a lasting impact” on the people and the world.
The summit will be attended by more than 30 heads of state and government from all continents, mobilizing more than 6,000 delegates, including approximately 500 ministers from various departments.
Source: Lusa
