“Africa has all the means to write its own story”

2023-11-13 20:36:00

Summits, meetings, conferences and forums with the African continent as their subject are multiplying, as are debates in the media. Objective: to identify African problems and, failing to find immediate solutions, to exchange frankly on the perspectives to be drawn up to implement initiatives leading to inclusive growth and value creation. Enough to enable Africa to be better able to control its destiny.

On November 16 and 17, in Casablanca, the economic capital of Morocco, this is precisely what will be discussed as part of the Choiseul Africa Business Forum which received some 750 participants from 60 countries during its third edition in 2022. The main theme chosen speaks for itself: “What economic sovereignties for Africa”. In the wake of the subjects that were present during the Africa Investment Forum held on November 8, 9 and 10 in Marrakech, it will be a question, with Benin as the main guest, of agri-food value chains, urban planning, infrastructure taking into account sustainable development constraints as well as measures limiting climate change in the areas of energy, mobility and water, innovative financial systems, public-private partnerships and cooperation intra-African with the focus on the African Free Trade Area, and many other transversal subjects.

President of the Choiseul Institute, initiator of this forum, Pascal Lorot knows Africa from the position of advisor he held to the Minister of Economy and Finance Edmond Alphandéry between 1993 and 1995 but also as a stakeholder at the launch of the Organization for the Harmonization of Business Law (OHADA), the importance of which is known, particularly in the French-speaking countries of the continent. Director of economic studies and then institutional relations for the Total group from 1995 to 2002, he had to work on files involving Africa, whose riches in black gold are no longer in doubt. For Le Point Afrique, Pascal Lorot explains the framework, scope and purposes in the current context of Choiseul Africa Business Forum.

Africa Point: What inspires you about Africa in the current geopolitical and geo-economic configuration?

Pascal Lorot : Africa has probably never had such opportunities to weigh and impose its agenda on the geopolitical scene. Indeed, the West can no longer dictate its priorities – we saw this in the Russian-Ukrainian conflict and, more recently, in the crisis in the Middle East, but also in matters of climate justice. Attempts to reorient global value chains, due to tensions between the United States and China, open a door for Africa to stand out and finally be represented in globalization at the fair value of its demographic weight. .

For our part, we have always sought to promote an optimistic vision of the African continent. And some of its countries present some of the greatest opportunities for growth and return on investment in the world today, particularly for the private sector. In fact, Africa has all the means to write its own story on the international scene. This is a figure regularly put forward, because it is particularly telling: by 2100, at least one in three people in the world will come from Africa.

However, the continent faces a risk of being fragmented, while political crises are spreading and many external countries are trying to reap the benefits. A schism between French-speaking and English-speaking countries remains and even seems to be widening. Therefore, it is appropriate to focus on what already brings African countries together in the geopolitical space, and for the continent to continue to address the major challenges of the 21st century, such as sustainable development or adapting to changes brought about by digital technology, to provide responses and proposals.

How can economic sovereignty translate concretely for Africa in an environment of interdependence whose main actors have interests often in contradiction with those of the continent’s countries?

We must first understand the concept of economic sovereignty, which is not synonymous with withdrawal: the use of free trade must simply not weaken the capacities of the State and the latter must therefore concentrate on the management of its main supplies, the list of which may vary depending on the country.

I think that the path to economic sovereignty in Africa begins with an African definition of this concept: what are the priority supplies in the eyes of African countries? How can we also create elements of resilience to face possible future economic, financial, geostrategic or even pandemic crises?

Then, it is obvious that Africa must continue to focus on the industrialization of its economies, and thus the creation of finished products, on site.

Finally, Africa is still far from having explored all the opportunities to trade with itself: let’s hope that the establishment of the ZLECAF will continue!

Furthermore, States must listen to the needs of the private sector – without which economic sovereignty cannot be envisaged – and ensure that common interests emerge.

The remaining work may seem immense but some already have great successes to their credit, such as the opening of the mega refinery by the Dangote Group last spring in Nigeria.

How can we establish a win-win partnership between economic players in Europe and those in Africa?

We must build bridges of economic cooperation between Africa and Europe. This has always been at the heart of our ambitions. Europe is Africa’s leading trading partner, but we must not be satisfied with that.

The European Union has significant efforts to make if it wants to support the long-term economic growth of African countries, for example by revising its trade preference system so as to extend it to sectors in which many African countries could have a comparative advantage. But above all, the Union must seize this opportunity to make Africa an ally so as not to be caught in Sino-American trade tensions.

Africa, with the youth of its population, its immense endowment in resources, its innumerable innovative capacities can help the Old Continent not to sink into a logic of vassalage towards the American economy.

Beyond economic cooperation at state level, it is appropriate to strengthen opportunities for dialogue and exchanges between the private sectors of the two continents, for the mutual benefit of each other’s techniques and know-how.

The Choiseul Institute has been ranking young Africans for a number of years. What feedback do you have on its impact on the ground?

This ranking, the tenth edition of which was released last September, made it possible to create and unite a community of winners and alumni which today includes more than 500 leading economic decision-makers from 49 countries on the continent. Choiseul has, from the beginning of this ranking, offered the members of this network to meet and create a business dialogue – the Choiseul Africa Business Forum being just one moment among others allowing them to come together.

In certain regions of the continent, I am thinking in particular of North Africa and West Africa, the “Choiseuliens” have taken over to strengthen the local community, meet regularly and do business. There is no shortage of examples of successful business between Choiseulians, regularly with real added value in terms of economic and social development for the populations.

A few months ago, we also launched a major, unique and unparalleled survey, in partnership with SKEMA Business School, to question our African winners on their vision of the continent by 2050.

Everyone was able to mention the importance of networks, first and foremost the Choiseul network – which I am very proud of – in the conduct of their business and especially in their expansion to other geographies on the continent, even to other sectors. .

In addition, networks and meeting times allow the circulation of ideas and creativity, which entrepreneurs and business leaders need more than ever to face protean challenges – environmental, social, political, etc. – who present themselves to them!