AU and UN Global Compact Partner to Boost Africa’s Business Initiative | Business News

The African Union Commission (AUC) and the United Nations Global Compact have announced a new partnership to enhance the Global Africa Business Initiative (GABI). 

This collaboration aims to promote sustainable business practices across Africa, leveraging the UN Global Compact’s Africa Strategy to foster a network of accountable and ambitious African companies poised to capitalize on the continent’s opportunities.

The partnership was officially established through the exchange of a Letter of Intent between H.E. Ambassador Albert Muchanga, Commissioner for Economic Development, Tourism, Trade, Industry, and Mining at the African Union Commission, and Sanda Ojiambo, CEO of the UN Global Compact. 

The ceremony took place at the Global Africa Business Initiative event during the African Union’s Sixth Mid-Year Coordination Meeting in Accra, Ghana, on July 20, 2024.

Distinguished attendees included H.E. Fatima Kyari Mohammed, Permanent Observer of the African Union to the United Nations, and Charles Abani, UN Resident Coordinator in Ghana. 

This partnership builds on the African Union-United Nations framework for implementing the African Union Agenda 2063 and the Sustainable Development Goals (Agenda 2030). 

It will support the next phase of Agenda 2063’s Second Ten-Year Implementation Plan (2023-2032), a comprehensive roadmap for Africa’s development.

H.E. Ambassador Muchanga highlighted the significance of this collaboration, stating, “This partnership is a major step forward in achieving the objectives of the African Union Agenda 2063. By joining forces with the UN Global Compact, we are reinforcing our commitment to sustainable business and economic growth across Africa. Together, we aim to create a dynamic economic environment that supports inclusive progress and empowers African nations to reach their full potential.”

Sanda Ojiambo added, “Today’s exchange of letters strengthens the enduring relationship between the African Union Commission and the UN system through the Global Africa Business Initiative. We share a transformative vision for the continent, where a robust and inclusive African private sector can mitigate risks, attract investment, and create jobs, fostering more prosperous and sustainable communities.”

Under the leadership of UN Deputy Secretary-General H.E. Amina J. Mohammed, GABI seeks to reposition Africa as a prime business destination and investment opportunity on the global stage, contributing to the African Union Agenda 2063 and the Sustainable Development Goals.