More than 500 delegates, including political Leaders, decision makers,and leaders of industry from Africa, the Middle East and Asia are expected to participate in the Africa Islamic Economic Forum taking place in Accra, the capital of the Federal Republic of Ghana from the 25th to 26th of September 2017. The event, which is convened under the official patronage of various African Governments,will be held under the theme: Halal Economy: Realizing The Potential of Halal Economy in Africa
AIEF2017 is expected to become a large international platform for enabling the growth of Halal Economy throughout Africa.The goal of the Forum is to provide an international platform to deliberate issues, explore new ways, instruments and opportunities in Africa for the implementation of the United Nations Sustainable Development Goals in such areas as international trade, economics and technology, innovation and public-private partnership. The aim is to map the sectors and sub-sectors of the African Halal economy in order to understand what exists, where the value chain for each is concentrated, what possibilities exist to support and expand the varying sectors, as well as the emerging and informal, in order to maximize Africa’s potential for tapping into the USD$3 trillion plus Global Halal economy.
Africa: A Continent of Abundant Opportunities
Africa is certainly in the mind of any investor who is looking for a naturally rich continent. Endowed with vast natural resources and being an emerging investment destination with huge untapped economic potentials, Africa is strategically positioned at the crossroads of the contemporary global economy. With geographical proximity, historical and cultural affinities, Africa is not only a natural economic hinterland, but also attracting growing interest from both developed and emerging economies to establish strong trade links while exploring attractive investment opportunities. With a population of 1 billion people and an economy expected to reach $2.6 trillion by 2020, the continent is already a Global political and economic power house. Since 2000, Africa has been the second-fastest-growing region in the world; in 2012, the continent was home to six of the world’s 10 fastest-growing economies. The continent's real GDP, at $2 trillion in 2013, was larger than India's and Russia's, and on par with that of Brazil, and is on a consistent growth rate, growing by 4.5 percent and is expected to reach 5.8% by 2020. Africa’s potential advantages for future growth include a large consumer market expected to grow from US$ 860 billion to US$1.4 trillion by 2020, a strategic geographic location, and a young and highly entrepreneurial population..