Africa has the resources to handle its economy

forum1ABIDJAN, Ivory Coast, 25 March 2016, -/African Media Agency (AMA)/- Pierre-Antoine Balum, Partner and Africa Advisor at PWC, whilst presenting the results of an opinion poll to African CEOs during the panel “How to manage in a changing world”, underlined the growing importance of African consumers´ demands.

African CEOs are the best placed both in terms of awareness of and responding to these expectations. The poll shows, moreover, that 87% of respondents believe that the success of a company is not measured only by the size of its profits. Instead, African consumers are showing a growing interest in company culture, company management, company training programmes and the impact companies have on civil society.

This belief was shared by Richard Bielle, CEO of CFAO: “We have to turn the existing logic on its head and begin with the client when inventing our products, which is something we have done in our vast study of the middle classes and their aspirations. “In order to succeed in today´s world, we have to ensure that we create companies which are inclusive and which have a positive impact on their employees, on communities and on the environment”, added Venkataramani Stritvatshsan, Olam´s regional director for Africa and the Middle East. African consumers are, in fact, having a growing influence on companies.

Slim Othmani, CEO of NCA Rouiba, called for a “leadership of change” by way of better communication and inclusive management in order to improve governance within companies: “It´s a crucial tool in times of crisis in order to be able to restore confidence between top management and our African collaborators”. The latter thus have the possibility of gaining autonomy and sovereignty.

“We are seeing a new freedom in the entrepreneurs on the continent in terms of the expression of their vision, allowing them to transmit the values which make sense in their eyes to the goods they are offering consumers”, Edouard Malbois, Head and founder of Enivrance, explained during the panel “Marketing: How to develop successful African brands.” African entrepreneurs therefore have all the advantages at their disposal to prosper within Africa.

Faced with the decrease in FDIs, Africa has sufficient capital to finance its own investments, as the speakers on the panel “How to mobilise the potential of African capital” explained. “We have the potential to nurture our own growth”, Dr Ngosi Okonio-Iweala, Senior Advisor at Lazard, confirmed, according to whom “macro-economic policies must be put in place as well as mechanisms which inspire confidence in order to release this potential”. Jingdong Hua, Vice President of IFC added that “by developing the local economy, you develop a resilience”. Henri-Claude Oyima, CEO of BGFI concluded by reminding the speakers that “if we have no confidence in ourselves, we can have no confidence in others”.

This fourth edition of the AFRICA CEO FORUM, which was held on the African continent for the first time, has kept all its promises, with more than 1,400 participants hailing from 63 different countries, of which 43 were African countries.

Distributed by African Media Agency (AMA) on behalf of the AFRICA CEO FORUM.

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About Cholo Brooks 13357 Articles
Joel Cholo Brooks is a Liberian journalist who previously worked for several international news outlets including the BBC African Service. He is the CEO of the Global News Network which publishes two local weeklies, The Star and The GNN-Liberia Newspapers. He is a member of the Press Union Of Liberia (PUL) since 1986, and several other international organizations of journalists, and is currently contributing to the South Africa Broadcasting Corporation as Liberia Correspondent.