UN Global Compact and AU Commission form partnership to promote business investment in Africa

Sierra Leone Telegraph: 27 July 2024:

The United Nations Global Compact and the African Union Commission have announced they will form strong partnership to boost the Global Africa Business Initiative (GABI). Through this collaboration they will seek to amplify the impact of sustainable business practices across Africa through the UN Global Compact’s Africa Strategy which aims to build a cohort of accountable and ambitious African companies to seize the continent’s opportunities.

This new partnership was formalized through the exchange of a Letter of Intent between  Ambassador Albert Muchanga, Commissioner for Economic Development, Tourism, Trade, Industry, Mining (ETTIM), African Union Commission and Assistant Secretary-General; Sanda Ojiambo, CEO of the UN Global Compact;  Fatima Kyari Mohammed, Permanent Observer of the African Union to the United Nations; and Charles Abani, Resident Coordinator of the United Nations in Ghana, at an event hosted by the Global Africa Business Initiative on the sidelines of the African Union’s Sixth Mid-Year Coordination Meeting (6th MYCM) in Accra, Ghana on Saturday, 20 July 2024.

Building on the African Union-United Nations framework for the implementation of the African Union Agenda 2063 and the Sustainable Development Goals (Agenda 2030), the partnership will support the next phase of Agenda 2063’s Second Ten-Year Implementation Plan (2023-2032), a comprehensive roadmap for Africa’s development.

The UN Global Compact will engage businesses across the continent to support the African Union Commission’s goals and mandate.

Ambassador Muchanga emphasized the importance of the new partnership, saying, “This collaboration marks a significant advancement in our efforts to realize the objectives outlined in the African Union Agenda 2063. By partnering with the UN Global Compact, we are reinforcing our commitment to driving sustainable business and promoting economic growth across Africa. Together, we aim to create a dynamic economic environment that supports inclusive progress and empowers African nations to achieve their full potential.”

Ms. Sanda Ojiambo said, “Today’s exchange of letters presents an opportunity to strengthen the long-standing ties between the African Union Commission and the UN system through a partnership with the Global Africa Business Initiative. We share a transformative vision for the continent, where a strong and inclusive African private sector helps de-risk economies, attracts investment, and creates jobs, building more prosperous and sustainable communities. “

Under the leadership of UN Deputy Secretary-General, Amina J. Mohammed, GABI aims to reposition Africa as a business destination and opportunity for investment on the global stage while also contributing towards the African Union Agenda 2063 and the Sustainable Development Goals.

Interested participants can now register to request for an invitation to attend GABI’s flagship event ‘Unstoppable Africa’ which will take place in New York 25-26 September on the sidelines of the UN General Assembly.

For more information on the Global Africa Business Initiative, visit: GABI.UNGlobalCompact.org