By Michael Omotosho |
The United Nations Industrial Development Organization (UNIDO) and the Africa Business Council (AfBC) have signed a landmark Joint Declaration in Abidjan, establishing a strategic alliance designed to position Africa’s private sector as the primary driver of inclusive, sustainable economic transformation across the continent.
The agreement was finalized on the sidelines of the joint African Union Specialized Technical Committees on Finance, Trade, and Industry. By uniting UNIDO’s technical expertise with the AfBC’s network as the African Union’s premier private sector platform, the partnership aims to mobilize private capital, boost enterprise competitiveness, and accelerate the implementation of key continental frameworks, including the African Continental Free Trade Area (AfCFTA) and Agenda 2063.
Unlocking Investment and Continental Value Chains
Under the terms of the Joint Declaration, both organizations will collaborate on high-impact initiatives targeting innovation and technology transfer, regional value chain integration, and structural industrial policy advocacy. A primary focus of the partnership is building technical capacity for Micro, Small, and Medium Enterprises (MSMEs), with dedicated support tailored to women- and youth-led businesses across Africa.
“Africa’s industrial transformation depends on a dynamic and competitive private sector capable of driving investment, innovation, industrial upgrading and regional value chains,” said Fatou Haidara, Deputy to the Director General and Managing Director at UNIDO. “Through this partnership with the Africa Business Council, UNIDO is strengthening collaboration with Africa’s premier private sector platform to create an enabling environment for competitive enterprises of all sizes and to unlock greater investment in sustainable industrial development.”
Overcoming Market Barriers to Drive Integration
The strategic alignment comes at a critical juncture as African businesses navigate regulatory fragmentation and shifting global trade standards. By streamlining technical standards and fostering cross-border market linkages, the partnership seeks to elevate African products higher up the global value chain while ensuring regional economic alignment with the Fourth Industrial Development Decade for Africa (IDDA IV).
“Market fragmentation in Africa and the wide range of evolving standards and technical regulations in international markets impede the adoption of new technologies, creation of higher value-added products and ultimately the competitiveness of our enterprises,” noted Amany Asfour, President of the Africa Business Council. “Africa’s prosperity depends on our ability to connect markets, empower entrepreneurs and unlock the full potential of the private sector. By joining forces with UNIDO, we are creating new pathways for African businesses to compete, grow and lead Africa’s economic transformation.”
The framework sets a strong roadmap for future public-private cooperation, ensuring African trade and industrialization goals translate into tangible growth, enhanced competitiveness, and long-term economic resilience.
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