STA shaping the future of sustainable trade at COP28

Sajjad Ahmad, Deputy Business Editor

Sustainable Trade Africa (STA) concluded its impactful journey, culminating in a successful event on Wednesday at Jafza One Convention Centre in Jebel Ali, Dubai. The event featured insightful conversations and strategic engagements with prominent figures who are shaping the future of sustainable trade.

Centred around the theme “Transforming Africa Trade for Climate Resilience & Sustainable Development,”

The Sustainable Trade Africa event, served as a catalysing force, rallying investors around the transformative concept of a platform. The goal is to create a dynamic space that fosters innovation, collaboration, and sustainable development, aligning with the broader objectives of COP28.

Distinguished speakers at the event discussed the various opportunities to accelerate more sustainable growth.

Prof. Benedict Okey Oramah, President & Chairman of the Board, African Export-Import Bank (Afreximbank),

delved into the vibrant African economy, shedding light on the dynamic landscape. He shared insights into the collaborative efforts between the African Development Bank, the Africa Union Commission, and AfCFTA. Additionally, he highlighted the launch of new payment systems, reflecting a commitment to advancing financial mechanisms for African trade.

Alain Ebobisse, CEO, Africa50 said, “As a pan-African infrastructure investment platform, Africa50’s mandate is to help accelerate the delivery of sustainable infrastructure on the continent. This is crucial to boost trade and promote economic development. We leverage our capital and relationships with our 31 African shareholder countries to develop bankable investment-ready projects and mobilise private sector funding within Africa and globally.”

He added, “One of our key areas of focus is cross-border trade-enabling infrastructure, which can help facilitate the implementation of the African Continental Free Trade Area. We commend the work of the UAE Trade Center and are eager to explore new partnerships with UAE companies to concretise new transformational projects in Africa.”

Minister Ibrahim Matola, Minister of Energy, Malawi shared insights into the journey toward sustainable development, emphasising the opportunities and responsibilities that lie ahead for Africa’s economic progress. His remarks reflected a forward-looking perspective on leveraging opportunities to drive positive change.

Saleh Lootah, UAE Food & Beverage Manufacturers Group emphasised the paramount importance of agriculture and food trade between the GCC and Africa. He highlighted Dubai’s achievements and expressed a commitment to fostering increased engagement with Africa in the coming year, showcasing the potential for mutually beneficial partnerships and collaborations.

During his address, Walid Mohammed Hareb Alfalahi, Chief Executive Officer, UAE Trade Center & DC Global echoed the recognition of Africa’s vast potential, emphasising that this acknowledgment is not speculative but firmly grounded in the belief that strategic projects on the continent hold the key to unlocking unprecedented economic growth. In alignment with this vision, he issued a compelling call to action, underscoring the urgency of COP28.

The event featured impactful panel sessions covering crucial themes. From “Green Transports & Logistics,” addressing Africa’s export potential, to “Clean Energy” discussions on sustainable power projects, and “Green Finance & Investments,” emphasising the need for financing sustainable solutions. The final panel on “Agriculture” focused on Africa’s role in transforming food systems. Renowned speakers shared valuable insights, making these sessions a vital aspect of Sustainable Trade Africa.

The event witnessed high level speakers from the UAE and Africa to name a few; Ms. Allen Asiimwe (Deputy CEO, TradeMark Africa); Eng. Mahmood Al Bastaki (COO, Digital Trade Solutions, DP World), Dr. Ashraf Mahate, who moderated one session; Ahmed Mulla (Deputy CEO, Infinity Power); Ekenem Isichei (Director, Corporate Council on Africa);  Sanjeev Gupta (Executive Director, Africa Finance Corporation); Faisal Mkhize (CEO, Relationship Banking, ABSA Group Ltd), with moderation by Edgar Isingoma (Partner, KPMG East Africa); Saleh Lootah (Chairman, UAE Food & Beverage Manufacturers Group) Prof. Dr. Ahmed Eltigani Elmansouri (Founder and CEO, Al Rawabi Dairy); TradeMark Africa, DP World, Infinity Power, Corporate Council on Africa, Africa Finance Corporation, ABSA Group Ltd, KPMG East Africa, UAE Food & Beverage Manufacturers Group, and Al Rawabi Dairy and many more.

African Export Import Bank (Afreximbank), a key co-organiser of Sustainable Trade Africa, stands as a leading force in African economic development, specialising in trade facilitation and sustainable investments.