A forum brought together leaders in government, finance, and business from across the Economic Community of West African States (ECOWAS) to discuss how investment can enhance farming and food security in West Africa.
The ECOWAS Bank for Investment and Development (EBID) hosted the event in Lome, Togo, on 4-5 April.
Togo’s Prime Minister Victoire Tomegah Dogbé inaugurated the forum, which focused on the theme ‘Transforming ECOWAS Communities in a Challenging Environment.’
She highlighted the importance of diverse investments in areas such as human capital, energy, the digital economy, and infrastructure.
Ngozi Okonjo-Iweala, Director-General of the World Trade Organization (WTO), addressed the forum via video, discussing how regional integration can bolster investments.
Simon Tiemtore, President of Vista Group Holding, and Kanayo Awani, Executive Vice President of the African Export-Import Bank (Afreximbank), emphasized the need for collaborative efforts and innovative strategies to advance investment priorities.
The discussions at the forum covered critical topics like food security, strengthening agricultural supply chains, and enhancing security in West Africa.
The panelists proposed strategies to address challenges in agriculture, stressing the importance of cooperation and innovation for sustainable development.
They highlighted the significant challenges related to access to finance, particularly impacting small businesses, agribusinesses, and young entrepreneurs. The solutions discussed included ways development finance institutions like EBID could facilitate access to loans.
One of the key issues being addressed by the International Trade Centre (ITC) in partnership with the ECOWAS Commission through the West Africa Competitiveness Programme (WACOMP) is access to finance.
WACOMP facilitated the involvement of nine investment promotion agencies from West Africa, presenting investment projects from their countries to engage with business leaders in critical areas like agriculture, infrastructure, small business support, energy, and climate change.
The participants deliberated on specific projects and investment opportunities focusing on job creation, infrastructure financing, and adopting climate-resilient energy solutions. In collaboration with ITC and the ECOWAS Commission, the delegation met with EBID management to strengthen collaboration in supporting investment inflow in the region.
Press Release distributed by APO Group on behalf of International Trade Centre.