Trade & Investment KwaZulu-Natal was at the World Business Angels Investment Forum (WBAF), hosted on African soil for the first time at the Durban ICC from 20-22 November 2023. TIKZN ACEO Sihle Ngcamu presented at a session which included Dr Ibrahim Mohammed Awal, Ghana’s Minister for Tourism, Arts and Culture and Baybars Altuntas, , WBAF Executive Chairman.
Ngcamu presented KwaZulu-Natal’s value proposition to Forum attendees gathered under the theme: Mobilising Science and Technology Parks for Financial Inclusion. WBAF is an affiliated partner of the G20 Global Partnership for Financial Inclusion (GPFI), dedicated to global collaboration to empower the economic development of the world through global efforts to ease access to finance, promote financial inclusion, and create more jobs and social justice.
Ngcamu highlighted the synergy between TIKZN and WBAF. “This Forum promotes entrepreneurial growth and development. TIKZN does not only support entrepreneurs and through our export services, but also via investment promotion as small and medium businesses become part of the value chain, supplying goods and services to multinationals and local big businesses invested in the province.” He outlined the province’s unique value proposition including the manufacturing capacity, and infrastructure.
Awal said “Africa has challenges but it is also a continent of many possibilities and opportunities. A continent so diverse and so rich, with 1.3 billion people and a combined GDP of US $3.3 trillion. Awal added that Africa accounted for a large portion of the world’s mineral resources, has vast arable land for agriculture and a large youthful workforce. In order for these to translate to economic growth, Awal said there was a need to improve infrastructure and industrialisation so as to add value in the product value chain greater than that of merely being producers, farmers or crafters. Maintaining peace and stability was also key to build investor confidence encouraging them to do business in Africa. “The best investment any country can make is to invest in its people, through education which includes vocational studies to build skills which will allow them to establish their own enterprises fund them and grow small and medium business which are among the drivers of economies. Need partnership and collaboration with global investors to unlock the full potential of the continent.”
Earlier, KZN Premier Nomusa Duma Ncube and eThekwini Mayor Mxolisi Kaunda spoke at the opening ceremony with Siboniso Duma, the MEC for Economic Development, Tourism and Environmental Affairs and Leader of Government Business reflecting on the positive impact of WBAF and other such global platforms on the province and its people.