Rwanda to host first COMESA investment summit

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The summit will engage the private sector on the TFTA initiative and explore how public and private sectors can collaborate to realise the aspiration of Africa's largest single market.

The summit will engage the private sector on the TFTA initiative and explore how public and private sectors can collaborate to realise the aspiration of Africa’s largest single market.

Rwanda will next month’s September host the first he Global African Investment Summit COMESA and government of Rwanda, a statement from the organisers indicates.

The summit is expected to attract over 1,000 public and private sector leaders representing US$200 billion of funds and with an interest in the investment, trade and business opportunities arising in the region.

Delegates include African heads of states, government ministers and senior officials, chief executive officers who will gather to transact on project opportunities and deploy investment.

According to the organizers, the forum provides an opportunity for the delegates to discuss the key challenges and opportunities surrounding a variety of business sectors including tech, energy and infrastructure.

The summit will be the first edition of the Global African Investment Summit of COMESA and will be hosted at the Kigali Convention Center (KCC).

According to the latest figures from the World Bank, the African continent has become the second most attractive investment destination, with foreign investment hitting a record $60 billion dollars, leading Africa to be referred to as the new China.

Key on the agenda is expected to be the tripartite arrangement of the Common Market for Eastern and Southern Africa (COMESA), East African Community (EAC) and Southern Africa Development Community (SADC) that was launched last year.

The arrangement is aimed at driving intra- African trade by creating the continent’s largest trading block, with 26 countries, a combined GDP nearing $1.2 trillion, and a market of close to 620 million consumers.

Established in October 2014, the summit has rapidly developed into a market leading investment platform: the December 2015 event which took place in London attracted over 1,500 delegates who control over US$425 billion of funds, and achieved tangible results in the form of deployed investment, letters of intent and MOUs between government and investors.

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