AfBC President Calls for a New Industrial Era for Africa at AU–EU Summit in Luanda

Amani Asfour, President of the African Business Council (AfBC), delivered the joint declaration of African and European business organizations before heads of state at the African Union–European Union Summit in Luanda, underscoring the need for a fair, future-oriented economic partnership between the two continents.

As Co-Chair of the African–European Business Forum, representing African SMEs, women, and youth entrepreneurs, Asfour presented the declaration alongside Benoît Chevrelier of BusinessEurope. The joint statement emphasized a shared commitment to balanced cooperation, rooted in mutual respect, sustainable growth, and Africa’s Agenda 2063 vision.

In her remarks, Asfour urged both continents to accelerate investment in African industrialization, value-added production, and transformative manufacturing instead of perpetuating the export of raw materials. She highlighted the role of the EU’s Global Gateway Initiative in enabling technology transfer, human-capital development, and better use of Africa’s natural resources.

She also outlined the AfBC’s core priorities: strengthening the private sector through capacity-building and market access, advocating for business-friendly policies, and promoting a competitive “Made in Africa” brand backed by international standards. Asfour noted that technical working groups of the forum had already identified key sectors for partnership, including agrifood, renewable energy, healthcare, digital innovation, education, and financial services.

The economic imbalance between Africa’s rich resources and low industrial output, Asfour said, can no longer continue. She cited Africa’s striking paradoxes: holding most of the world’s arable land yet importing USD 100 billion of food annually, exporting cocoa worth USD 5.7 billion while the global chocolate industry exceeds USD 500 billion, and possessing vast mineral and renewable-energy reserves while still exporting unprocessed raw materials.

Asfour also highlighted Africa’s medical gap, noting that lack of radiotherapy and diagnostic services contributes to the continent losing 70% of cancer patients. She announced that AfBC plans to introduce a major health-investment project under the PIFAH program with AUDA-NEPAD to save millions of African lives through improved health infrastructure.

Closing her remarks, Asfour called for a united private-sector push toward Africa’s industrial transformation. “We must turn our raw materials into competitive African products,” she said. “The Africa we want is educated, healthy, food-secure, and prosperous.”

The AfBC reaffirmed its commitment to driving partnerships, dialogue, and economic integration through the AfCFTA and future AU–EU cooperation frameworks.