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| African Private Sector Forum | |
|---|---|
| Name | African Private Sector Forum |
| Formation | 2010s |
| Type | Non-governmental organization |
| Headquarters | Johannesburg |
| Region served | Africa |
| Leader title | Chair |
African Private Sector Forum The African Private Sector Forum is a continental convening platform that brings together leaders from across the private sector, finance, development banks, multilateral institutions and civil society to promote investment, trade, and infrastructure across Africa. It engages corporations, sovereign funds, bilateral donors, international financial institutions and regional economic communities to align private capital with development priorities in African states. The Forum acts as a nexus between private investors, policy makers, and supranational organizations to catalyze projects in industry, energy, transport, and digital sectors.
The Forum convenes executives from African Development Bank, World Bank Group, International Monetary Fund, United Nations Economic Commission for Africa, African Union, Economic Community of West African States, Southern African Development Community, East African Community, United Nations Development Programme, European Investment Bank, Asian Infrastructure Investment Bank, International Finance Corporation, Private Infrastructure Development Group, International Chamber of Commerce, World Trade Organization, United Nations Conference on Trade and Development, Organisation for Economic Co-operation and Development, G20, Group of Seven, African Export-Import Bank, African Continental Free Trade Area, Common Market for Eastern and Southern Africa, Central African Economic and Monetary Community, West African Monetary Agency, United States Agency for International Development, UK Foreign, Commonwealth & Development Office, Deutsche Gesellschaft für Internationale Zusammenarbeit, Agence Française de Développement, Japan International Cooperation Agency, China Development Bank, African Union Development Agency, Organisation of Islamic Cooperation, Islamic Development Bank, Banco Africano de Desarrollo.
The Forum traces roots to high-level summits linking Tony Blair's Africa Governance Initiative, Bill Gates-linked Bill & Melinda Gates Foundation convenings, and engagements by Klaus Schwab and the World Economic Forum with African business leaders following New Partnership for Africa's Development initiatives. Early gatherings involved senior figures from Dangote Group, MTN Group, Safaricom, Shoprite, Standard Bank, Ecobank Transnational Incorporated, Guaranty Trust Bank, Naspers, Investec, Old Mutual, Ethiopian Airlines, Kenya Airways, Orascom Construction, Bidco Africa, Oando, Zenith Bank, Zenith Bank Group, Nigerian National Petroleum Corporation, Sonatrach, and representatives of sovereign wealth funds such as Libyan Investment Authority, Nigeria Sovereign Investment Authority, Egyptian Sovereign Wealth Fund, Rwanda Development Board, Development Bank of Southern Africa, African Risk Capacity.
The Forum's stated aims align with agendas championed by United Nations Millennium Development Goals and Sustainable Development Goals, focusing on mobilizing private finance for infrastructure, energy transition, industrialization, and value chains. Activities include high-level panels featuring executives from Goldman Sachs, Citi, Standard Chartered, Barclays Africa, JP Morgan Chase, BlackRock, Allianz, AXA, HSBC, BNP Paribas, Credit Suisse, Deutsche Bank, African Finance Corporation, EIB, Export-Import Bank of China, African Export-Import Bank, African Guarantee Fund, and project matchmaking involving Private Equity Africa, Helios Investment Partners, Actis, Development Partners International, Adenia Partners, Emerging Capital Partners, Norfund, CDC Group, African Development Fund.
Governance structures mirror models used by World Economic Forum, Business Roundtable, and International Organisation of Employers with advisory boards populated by leaders from African Union Commission, UNECA, multilateral lenders, and corporate chairs from Dangote Group, MTN Group, Standard Bank Group, Safaricom PLC, Naspers Limited, Bidco Group International, Ecobank Transnational Incorporated, Guaranty Trust Holding Company, Zenith Bank Plc, and representatives from national chambers such as Kenya National Chamber of Commerce and Industry, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, South African Chamber of Commerce and Industry. Membership often includes multinational corporations like Unilever, Nestlé, Procter & Gamble, Samsung, Huawei, Microsoft Corporation, Alphabet Inc., Amazon (company), Facebook, Tesla, Inc., Siemens, General Electric, TotalEnergies, Shell plc, BP, ExxonMobil, Chevron Corporation.
Initiatives have focused on flagship programs modeled after partnerships such as Power Africa, Compact with Africa, European Union External Investment Plan, Africa Trade Insurance Agency collaborations, and aligned with projects by African Development Bank's Programme for Infrastructure Development in Africa. Partnerships involve United Nations Industrial Development Organization, United Nations Global Compact, International Labour Organization, International Renewable Energy Agency, Clean Technology Fund, Green Climate Fund, Global Infrastructure Facility, Africa50, Africa Energy Forum, Africa Investment Forum, Africa Finance Corporation, Infrastructure Consortium for Africa, Private Sector Development Facility, Mastercard Foundation, Bill & Melinda Gates Foundation, Rockefeller Foundation, Open Society Foundations.
The Forum influences investment flows involving regional hubs like Johannesburg Stock Exchange, Nairobi Securities Exchange, Lagos Stock Exchange, Casablanca Stock Exchange, Egyptian Exchange, and promotes projects in corridors such as Lagos–Kano Railway, Addis Ababa–Djibouti Railway, Mombasa–Nairobi Standard Gauge Railway, Trans-African Highway network, Tripoli–Tobruk Coastal Road, Walvis Bay Corridor, Northern Corridor (East Africa), affecting sectors championed by conglomerates like Dangote Cement, Nigerian National Petroleum Corporation, Sonatrach, influencing policies seen at African Continental Free Trade Area secretariat meetings and regional economic communities such as ECOWAS, SADC, EAC.
Critics note overlaps with controversies that affected initiatives involving World Bank, International Monetary Fund, European Investment Bank, and private finance scandals tied to Pension Funds, Sovereign Wealth Funds, and corporate actors like Glencore, Vitol, Trafigura in resource sectors. Concerns mirror debates surrounding debt distress discussions in Paris Club restructurings, disputes seen in Aberdeen Asset Management cases, and governance critiques similar to those directed at World Economic Forum and International Finance Corporation regarding transparency, local content, labor disputes aligned with International Labour Organization conventions, and environmental disputes referencing Convention on Biological Diversity and Paris Agreement implementation. Allegations occasionally cite insufficient engagement with small and medium enterprises, informal sector actors, and limited redress mechanisms compared to models used by Extractive Industries Transparency Initiative and Global Reporting Initiative.
Category:Business organizations based in Africa