Clear, actionable policy frameworks are needed to enable sustained collaboration between governments and the private sector, economic cooperation organisation the Group of 20 (G20) business body B20 South Africa Secretariat head Dr Anthony Costa has said.

During a panel discussion at the Africa CEO Forum, held on May 12 and 13 in Abidjan, Côte d'Ivoire, panellists, including Costa, explored mechanisms to improve investor confidence in Africa’s industrialisation agenda, and how the African Continental Free Trade Area (AfCFTA) can serve as a catalyst for industrialisation, investment and economic integration across the continent.

The speakers called for a paradigm shift in how the world engages with Africa’s development.

They identified three core areas for action, including establishing clear and trackable public-private partnership models, enhancing governance and transparency systems, and addressing critical skills shortages through targeted development programmes.

Improving policy certainty and governance standards was essential to creating an enabling environment for investment, Costa said.

“President Cyril Ramaphosa has been adamant about cutting red tape to streamline company registrations and merger approvals in South Africa,” Trade, Industry and Competition Deputy Minister Zuko Godlimpi said during the panel discussion.

“Faster regulatory review and approval timelines are critical to facilitating smoother partnerships between South African and foreign businesses, and ensuring investments in the country can flourish,” he said.

On the question of Africa’s role in mobilising global capital, Costa urged stakeholders to reframe the continent’s investment narrative.

“Africa must move from being viewed through a risk lens to being recognised for its strategic opportunities,” he said.

Meanwhile, B20 South Africa was currently driving a year-long process that convenes more than 1 500 global private sector leaders across eight task forces with the aim to develop practical recommendations that align business efforts with government priorities to unlock inclusive growth, in a cooperating world.

Through B20 South Africa, the private sector has a direct channel to shape global economic priorities while ensuring African perspectives are embedded in that process, he added.

“B20 South Africa is focused on delivering outcomes that are not only ambitious but practical and implementable by both business and government, and building a strong, credible platform to advance the continent’s growth agenda.”