On Tuesday, 24 September 2024, the ever-busy and bustling city of New York played host to the 2024 and second edition of the Africa International Investment Summit (AITE 2024) conference held at the iconic Millennium Hilton Hotel UN Plaza, New York.
Held on the sidelines of the 79th Session of the UN General Assembly (UNGA 79), AITE 2024 was themed “Transformative Public Policies as Drivers of Economic Growth”.
Delivering the opening address, Tunde MacAlabi, CEO, of T-BYK Ventures Limited, organiser of the program, said “The SME sector is the engine of growth of any society, so we conceived this idea to help SMEs increase their market share in North America. We had our inaugural edition last year at the Midtown Hilton, and with its success, it has birthed the 2024 edition.
It is our joy that we have committed partners in the corporate profile of FirstBank that has identified with our mission and vision to promote investment in Africa. We remain grateful to FirstBank, the Bank of Industry, the Federal Ministry of Trade, Industry and Investment, the Foreign Affairs Ministry, Business day and all our partners who have embarked on this journey with us.
Speaking on the event, Mr. Olusegun Alebiosu, CEO, FirstBank said, this conference is a testament to the power of tripartite collaboration amongst the government, private sector, and international organizations. Our collaborative efforts will drive the implementation of effective economic policies that will not only foster innovation but also promote financial inclusion and prosperity across the continent.
At FirstBank, we believe that transformative public policies are the gateway to sustainable economic growth, and as a leading financial services provider, we are committed to supporting frameworks that enable our communities to thrive.
In reinforcing the exposure of American-owned businesses to Africa, Nigeria in particular, several speakers echoed the numerous advantages and potentials that Africa has including its
very youthful, strong, agile, dynamic and vibrant population which will strengthen Africa’s productivity and contribution to
the global economy.
Encouraging American-based businesses to drive investments into Africa, David Spaulding ESQ, Managing Director, Lenape Legal Ltd “Africa has a very energetic and young population across the board, it is a nice place to do business. Of course, there are challenges, but these challenges can be met. The message I carry to prospective investors is to match up opportunities with investments, and it is important to see out the investments through its process.”
Similarly, Latron Price, President of American Sales and Distribution Services Inc. expressed the need for black-owned businesses to leverage opportunities that put American-owned and led businesses at an advantage. He said” “with several Agencies like the US Department for Commerce, Export and Import Bank of America, USAID and several other agencies that give businesses an advantage like access to capital, American businesses are at a huge advantage. But these advantages have not been leveraged by African business.”
Reinforcing the role played by Women in deepening economic growth in a unified direction, Dr Adedayo Benjamin-Laniyi, Pioneer Mandate Secretary, Women Affairs Secretariat, FCT Admin said “Today, we are talking about Transformative Policies as Drivers of Economic Growth. The truth is that a woman’s agenda is not about gender, it is a human agenda. It drives intervention in communities. It brings human capital development, and its initiatives and brings the innovation that translates what is policy through a domestication of action and
calls to action by taking what seems to be royal but transforming it through the thematic process. “
“These are in line with what we do, especially as it aligns with the theme of the UN Commission on the Status of Women (CSW), hence Unifying Women for Global Impact.”
In her presentation, Queen Ahneva Ahneva, the Atlanta based Founder of Museum of African Textiles, said, “I appreciate Mr Alebiosu, CEO of FirstBank, for the incredible work he is doing for the community and Nigeria in particular.”
“I am here to address with everyone a passionate plea and bold vision for the sustainable growth of African textile and the
fashion industry. As a member of the textile community, I am very knowledgeable of the vibrant opportunities that exist across its value chain in Africa. Africa is blessed with so many resources, human and material, and there is no better time than now for the world to focus on investment opportunities in the
economy beyond the textile industry,” she continued.
The 2024 edition of the event had many attendees expressing their impatience for the third and 2025 editions as they expressed their excitement for participating in the 2024 edition, with participants of the inaugural edition, commending the for lifting up the bar from the 2023 edition.
The 2024 edition of AITE convened business leaders, entrepreneurs, and government functionaries from diverse sectors across Africa and the globe.
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