About WealthFest Africa
The biggest and most anticipated virtual network of entrepreneurs in Africa is here!
Grab your membership ticket here today!
Ladies and gentlemen, brothers, sisters, African and friends of Africa.
Welcome Bienvenue! Welkom! Bienvenida, Karibuni sana to WealthFest Africa.
We are delighted and humbled by the presence, enthusiasm, and engagement of our participants, speakers and other key stakeholders, whose quality and caliber are affirmed by our delegates.
Many have asked What is WealthFest Africa? What is its Mandate? What is in it for Entrepreneurs, Investors, Sponsors, Financiers etc.
A wise man once said the best time to plant a tree was 20 years ago; the second best time is today; The best time for Africa to have a platform that can bring us together to unite, innovate and do business was many years ago actually BC! The next best time is TODAY. The time is ripe; the time is now. To make ourselves, our children, and generations to come proud of who we are.
History is made with the launch of WealthFest Africa (WEFA), a state of the art, virtual platform, a great movement with mindset changers, entrepreneurs, high-level speakers, exhibitors, sponsors, delegates and other stakeholders across the world.
WealthFest Africa is a movement that creates the opportunity of forming strategic alliances across Africa for trade providing for disruption of the African narrative, changing mindsets, strategically shifting focus from "aid" to "trade".
With the ratification of the Africa Continental Free Trade (AfCFTA) Agreement in 2019, various countries in Africa have agreed to the reduction of tariffs and non-tariff barriers to facilitate free movement of people and investment. This alone provides a potential for a free trade zone of combined Gross Domestic Product of USD 3.4 trillion (Boateng & Dankyi, n.d.).
Moreover, despite the Africa Growth and Opportunity Act (AGOA) having been enacted in October 2000, as at 2017, the total two way goods trade for example between USA and Africa had only increased by 5.8%. This indicates that there still exists a huge opportunity for trade before the window closes in 2025 (About AGOA - Agoa.Info - African Growth and Opportunity Act, n.d.)
Six of the world’s 12 fastest-growing countries are in Africa (Ethiopia, Democratic Republic of the Congo, Côte d’Ivoire, Mozambique, Tanzania, and Rwanda). Further, between 2018 and 2023, Africa’s growth prospects will be among the highest in the world, according to the IMF. Africa has more than 120 million mobile money accounts, which is more than half the global total. This is therefore the best time for Africans and friends of Africa to invest.
By bringing together Africa’s best minds, WealthFest Africa 2020 is determined to influence the people of Africa to step out and take up the various opportunities available for wealth creation in every sector.
Time has come for a move from aid to trade so that we can liberate ourselves from handouts to creating generational wealth. Strive Masiyiwa, chairman of the pan-African company Econet Group, remarked: “Africa is a continent with extraordinary challenges, and it’s a cop-out just to wait for governments to deal with them. If you see a problem, then think about how you can solve a piece of it.”
A report by the UN Conference on Trade and Development states that between 2006 and 2011, Africa had the highest rate of return on inflows of Direct Investment: 11.4%. This is compared to 9.1% in Asia, 8.9% in Latin America and the Caribbean. The global figure is 7.1%.
Wealth Fest Africa, therefore, brings together business people across the continent of Africa and Friends of Africa to learn and network with the aim of exploring the diverse opportunities available in the continent of Africa. The best time for all of us to invest in Africa is now!
On behalf of the entire WealthFest Team, I would like invite you to take the opportunity to join the movement. Join and enjoy the opportunities to grow, get funding for your business and network with key stakeholders in Africa.
Grab your membership ticket here today!