Date: June 30, 2022
India and Africa have been natural trade partners historically and the relationship has slowly but steadily grown. As African countries have grown in terms of democracies as well as economies, it is no surprise that African businesses have become more ambitious, and Africa has emerged as an important market for the world. During the Covid-19 pandemic, several initiatives of the Government of India led by our hon’ble Prime Minister Shri Narendra Modi have indicated how India can become Africa’s biggest partner and chart out the growth trajectory.
With a rapidly expanding tech startup ecosystem, Africa is set to become a tech superpower. The African startup ecosystem had a remarkable turnaround over the last few years. Home to the world’s largest free-trade area, and with the highest rates of entrepreneurship, African tech creators are already generating some of the most exciting innovations in the world.
The India Africa Entrepreneurship Forum (IAEF) aspires to become the go-to platform that connects entrepreneurs and investors actively involved in the startup space in both India and Africa. Against this backdrop, IAEF is organizing the Second edition of its ‘India Africa Entrepreneurship and Investment Summit’ on the 1st and 2nd July 2022, at Sarova Panafric Hotel, Nairobi.
The objective of the summit is to bring pre-eminent Entrepreneurs and Investors on a common platform to discuss the opportunities and challenges of investing in Africa with a view to educate/inform and connect with potential Indian investors and Entrepreneurs who may either be interested in Investing or creating joint-ventures and/or market access arrangements for mutual trade benefit.
The summit would feature a diverse and nimble suite of programming that is accessible to entrepreneurs and includes events, delegations, Training, collaborative business incubation, and bilateral funds.
IAEF is thrilled to share that the Economic Development Board, Mauritius has joined as one of the sponsors for the summit. The Economic Development Board will be represented by the Vice Chairman of the EDB and technical officers from the financial services department. Ken Poonoosamy, Chief Executive Officer of the EDB comments, “Mauritius, India and Africa share a profound and privileged relationship, which has been sustained by our geographical proximity and ancestral cultural affinities. This event offers a prime platform to showcase our shared commitment to support entrepreneurship and innovation, whilst paving the way for economic and social development.”
Mauritius being a diverse and multicultural nation of 1.3 million people, offers a range of investment opportunities in different sectors. Its ease of doing business ranking and stable governance create the perfect business climate possible. Economic Development Board is focused on contributing toward shaping the future of Mauritius by designing and delivering better, stronger, and more sustained economic growth through higher levels of investment and exports. It is noteworthy that India has been among the leading trading partners of Mauritius. In 2020, India represented a 10% share of Mauritian total imports and ranked 3rd in the main countries of imports.
The Economic Development Board operates with a vision to contribute toward shaping the future of Mauritius by designing and delivering better, stronger, and more sustained economic growth through higher levels of investment and exports. Its mission is to effectively implement the national development agenda with respect to driving investment and trade, providing strong institutional support for strategic economic planning and economic policy formulation, and leading transformational initiatives to ensure a business environment conducive for investment and trade.
As an apex body operating under the aegis of the Ministry of Finance, Economic Planning and Development, the EDB synergizes efforts across all ministries and with private stakeholders to meet the set goals.