Current economic & fiscal challenges discussion
During the last semester of 2022, the Private Investors for Africa have not been idle.
Following the World Bank and IMF fall meetings the Private Investors for Africa virtually met with Catherine Patillo, IMF African Deputy Director and Jesmin Rahman, IMF Mission Chief for Nigeria.
PIA visit to Washington
On June 20-22, the PIA executives held their annual meetings with the Bretton Woods and other key institutions in Washington, DC.
PIA meeting with Marjeta Jager, Deputy Director-General of EU International Partenerships, European Commission
Recently, The PIA members met Marjeta Jager, Deputy Director-General of EU International Partnerships accompanied by her team. The European Commission stressed the importance of cooperating with the private sector in these current challenging times.
PIA meeting with the H.E Wamkele Mene, Secretary-General, AfCFTA
The PIA met with the H.E Wamkele Mene, Secretary-General, AfCFTA and his team at the end of February. The PIA was very encouraged by the progress the AfCFTA is making towards accelerating intra-African trade and boosting Africa’s trading position in the global markets. The PIA is very supportive of the continental trade agreement and believes the private sector can play an important role in its successful implementation.
PIA meeting with the Zambian delegation
On 17 February, on the occasion of the AU-EU summit, the PIA members had the chance to meet with the Zambian delegation composed of Hon. Situmbeko Musokotwane, MP and Minister of Finance and National Planning and Mr. Mukuli Chikuba, Permanent Secretary - Economic Management and Finance, Ministry of Finance.
PIA meeting with the IMF
Recently, the PIA members held their annual plenary meeting. On this occasion, the members met with Andrew Tiffin - Senior Economist, Regional Studies Division, IMF African Department – who provided an overview of the year ahead for Africa with GDP growth expected to be 4%. Possible new Covid variants, supply chain issues and political volatility continue to impact growth, however, Africa has managed the impact of Covid-19 relatively well and there remains momentum in intra-regional trade with the new AfCFTA. The PIA believes the private sector is an important growth partner for the continent and access to forex and increases in taxation in certain regions are significant blockages that require ongoing engagement.
PIA meeting with Gavi
The PIA held an insightful meeting with Ms Saraka Yao, Managing Director of Resource Mobilisation and Private Sector Partnerships for the Global Alliance for Vaccines and Immunisations (Gavi). The PIA supports the critical role that Gavi is playing in accelerating the rollout of the vaccination against Covid-19 to meet the ambitious targets set by the WHO and UN of vaccinating 70% of the population of all countries by mid-2022.
PIA meeting with the IFC
The PIA had a constructive discussion with IFC’s Stephanie von Friedeburg and Sérgio Pimenta on the institution’s priorities for the continent. There is a clear focus on private sector collaboration and recovery-focused investments given the impacts of Covid-19.
PIA meeting with the World Bank
During May 2021, the PIA met with senior members of the World Bank Africa team to discuss the recovery of the African continent in the wake of Covid-19. We had a vibrant discussion around the vaccine roll-out and its link to economic recovery. Other topics included regional and global trade, debt relief and revenue mobilisation. While the medium-term outlook for the continent is broadly positive, increased private sector investment remains dependent on a stable investment climate.
PIA meeting with EU institutions
On 30 March, the PIA met with Koen Doens, Director General – DG International Partnerships (INTPA), European Commission and Richard Amor, Head of Corporate lending, Africa, Caribbean, Pacific, Asia and Latin America, at the European Investment Bank (EIB) to discuss the institutions’ approach to Africa. The dialogue highlighted the clear role of the private sector in the continents recovery, in the context of Covid-19. The EU values the PIA’s ongoing structural engagements.
PIA meeting on US-Africa relations
On 26 February the PIA met with Scott Eisner from the US Chamber and Witney Schneidman from the Brookings Institute to discuss the changing landscape of the Bretton Woods Institutions and the new Biden Administration’s approach to Africa. Despite a number of challenges given the impact of the Covid-19 pandemic, the outlook remains hopeful.
PIA meeting with the Government of Zambia
At the end of November 2020 the PIA members held discussions with the government of Zambia regarding the impact of Covid-19 on the country and the outlook for the economy. The Ministry of Commerce, Trade and Industry, gave an outline regarding the prioritization of various economic sectors, private sector incentives and the impact of the ACFTA on trade. The group also had a constructive meeting with the Deputy Governor of the Bank of Zambia, who provided insights on the countries debt, the role of the private sector and plans to ensure economic recovery.
PIA virtual meeting with the IMF African Department
On 28 October 2020, the PIA members conducted their annual meetings with the IMF African department on a virtual conference call. The IMF gave an open and frank presentation on the economic outlook for Sub-Saharan Africa as a whole and specific presentations on the economic climate in Ghana, Mozambique, Ethiopia and South Africa. Looking ahead the meeting provided important insights regarding the actions required to ensure economic sustainability and the opportunities for attracting private sector investment in the region.
PIA virtual visit to Nigeria in September 2020
The PIA held virtual meetings with high ranking officials in the Nigerian government on 24 September 2020.
PIA virtual meeting with the Bretton Woods organisations in June 2020
The PIA hosted a virtual meeting with Ms Von Friedeburg, COO of IFC, Mr De Lannoy, executive Director of IMF and Mr Hafez Ghanem, VP of the World Bank for Africa to discuss plans to address the impact of Covid-19 on the African continent.
PIA visit to Ethiopia in February 2020
In February 2020, the PIA executives visited Ethiopia where the group met with the Presidency, key ministries and development institutions.
21-22 May PIA visit to Washington
On 21 and 22 May, the PIA executives held their annual meetings with the Bretton Woods and other key institutions in Washington, DC The group met with high ranking officials including: Tao Zhang, Deputy Managing Director, IMF; Stephanie von Friedeburg, Chief Operating Officer IFC as well as Matthew Harrington Deputy Assistant Secretary of State for African Affairs, US State Department.
21- 23 November – PIA in Zimbabwe
The PIA visited Zimbabwe from 21-23 November, where the group met with senior government officials, notably the President of Zimbabwe and key institutions, including the IMF and World Bank.
24- 25 May - PIA in Brussels
In May 2018, PIA representatives met with DG DEVCO to discuss the EU’s vision for investment in Africa and potential areas for collaboration with the private sector. The discussion focused on the European Investment Plan (EIP), which covered key areas including the inclusive growth, financial guarantees and technical assistance. With the EIB, the group exchanged on topics such as climate change & renewable energy and foreign exchange.
11-12 June 2018 - PIA visit to Washington
From 11-12 June 2018, the PIA executives held their annual meetings with the Bretton Woods and other key international institutions in Washington, DC. The group met with high ranking officials including: Deputy Managing Director Tao Zhang IMF; Philippe Le Houerou, CEO IFC and Ambassador Yamamoto, US State Department.
13-15 November 2017 - The PIA in Zambia
The PIA had a successful visit to Zambia “a country on the rebound” from 13-15 November 2017.
8-9 June 2017, the PIA executives in Washington
From 8-9 June 2017, the PIA executives held their annual meetings with the Bretton Woods and other key international institutions in Washington, DC.
15-17 November- The PIA in Dar es Salaam, Tanzania
From 15-17 November 2016, the PIA executives held meetings with the Tanzanian Government and international institutions.
9-10 June 2016- PIA Washington DC meetings
The PIA executives conducted their annual visit to Washington DC between 9-10 June 2016.
Meetings included a number of high level interactions with the Bretton Woods and other US based institutions including the IFC (Philippe H. Le Houérou, Executive Vice President and CEO), the Africa departments of the IMF and World Bank, USAID, US Department of State, Millennium Challenge Corporation (MCC) and the Brookings Institution.
13-15 April 2016 – PIA meetings in Luanda
The PIA executives visited Angola in April 2016, where they held high level meetings with the Angolan Government and international institutions.
The recent collapse of the oil price has had a major impact on the Angolan economy. The Angolan Government provided insights into their strategies and priorities about diversifying the economy and reducing dependency on imports. This includes stimulating private sector investment, taxation reform and increasing local production and trade. The Angolan Government expressed a willingness to work with the private sector and are motivated to engage in ongoing dialogue and to support value adding projects.
23-24 November 2015 - PIA Washington visit
The PIA executives conducted their annual visit to Washington DC between 22-24 November 2015. Meetings included a number of high level interactions from the Bretton Woods and other US based institutions including David Lipton (1st Deputy Managing Director, IMF); Eric Postel (Assistant Administrator, USAID); Mr Cai (Executive Vice President and CEO, IFC); Mrs Hyde (CEO, Millennium Challenge Corporation); and the team of Mr Diop, Vice President World Bank Group.
9-10 July 2015– PIA visit to Maputo
On 9 and 10 July 2015 the PIA executives visited Maputo, Mozambique, to meet with key members of government, institutions and private sector organisations.
PIA welcomes Syngenta as new member in 2015
18-19 March 2015 – The PIA return to Addis Ababa
The PIA delegation at the African Union.
23-26 November 2014 – PIA Washington visit
The PIA executives conducted their annual visit to Washington DC between 23-26 November 2014.
9-11 September 2014 – The PIA in Abidjan
On 9-10-11 September, the PIA members met with several public and private sector bodies in Abidjan, Côte D'Ivoire.
27-28 March 2014 - The PIA in Addis Ababa
On 27-28 March, the PIA members engaged with the public and private sector of the Federal Democratic Republic of Ethiopia.