Co-creating Successful and Sustainable Strategies in Africa: The Key Role of the Private Sector and Public-Private Partnerships
The acceleration of the economic and social development of the African continent requires a combination of solutions and action levers. Among these, increasing the potential of the manufacturing sector in order to achieve true industrialization of economies is crucial. It is also essential to capitalize on natural resources for sustainable exploitation that creates local value. Additionally, focusing on innovation offers significant potential to enable a leapfrog in economic development.
One of the major strategic challenges lies in strengthening partnerships between various actors, whether they are private, public, or institutional. The private sector plays a driving role in economic growth, but this requires multiplying interactions among its actors. Simultaneously, the public sector, through its ability to regulate and stimulate the economy, must enhance public-private collaboration and perhaps better understand reciprocal needs.
Africa increasingly integrates into globalization and the interconnection of its economies with other continents, primarily Europe. It is therefore imperative to renew the Africa-Europe partnership by focusing on the complementarity of needs as well as medium- to long-term strategies between the two continents.
Thus, how can the private sector and the public sector collaborate effectively to stimulate industrialization, innovation, and local value creation in Africa? To what extent can the strengthening of the Africa-Europe partnership address the strategic needs of both continents in a context of redefined globalization?
