Equity Group CEO calls for a reset of global economic and social order to create jobs
By turning Africa’s vast arable land into a vibrant food production enterprise, the continent can wean itself from the rising cost of food circling her 1.3 billion population, Equity Group CEO, Dr James Mwangi has said.
Dr Mwangi noted that the matter should be a priority, adding that the pandemic exposed the current economic and social order, which was set in 1945 at the end of the second world war.
The current order is unsustainable and does not inspire trust between businesses and their host communities, Dr Mwangi added in his keynote speech during the Commonwealth Heads of States and Governments Meeting Business Forum opening in Kigali, Rwanda.
While calling on businesses and governments across Africa to help define a new world order, Dr Mwangi said: “Africa is endowed significantly with mineral resources and mineral wealth. That moment of reset has come for Africa to rethink, and add value to its mineral wealth, and export finished goods, creating millions of jobs for the youth.”
An expected 40 Heads of State and government from Africa, Europe, Asia, the Americas, the Caribbean, and the Pacific will convene to discuss this year’s theme: Delivering a Common Future: Connecting, Innovating, Transforming.
This is the first and largest in-person gathering for governments and businesses across the Commonwealth since the start of the Covid-19 pandemic.
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In a bid to accelerate the growth and recovery of small businesses, Dr Mwangi said there is a need to “capacitate our MSMEs to populate the value chains of agriculture, mining, manufacturing, processing, trade, and investment.”
The Equity Group head observed that this move will ensure the linkage of young people to the informal industries, thereby creating jobs.
“If truly we want the youth on the table, we must embrace innovation, technology, and science. We are in the era where the youth could play a big role if we embrace the tools that they are familiar with.”
The Kigali meeting will be discussing challenges including downturns in employment, disruptions to healthcare services, school closures, trade, and supply chain disruptions.
“As we roll out this plan, let’s pay attention to the sustainability of our environment. Let’s invest in social impact so that no one is left behind. let’s capacitate the youth and women, rural communities, so as to play a role in economic development and reap off the benefits of economic transformation” explained Dr Mwangi.
“As we champion a new course for Africa after the global reset, I extend an invitation to you all, to put all hands- on deck. Only then will we shape the new global economic and social order. Let’s all be active in shaping the future we all want. A common future of common prosperity and a Commonwealth that means the same thing to all of us,” he said.
The Commonwealth conference began officially on Monday, 20th June 2022, and will run till Friday 24th June 2022.
