CEOE and African entrepreneurs seek business opportunities on the continent

Meeting at the CEOE headquarters

The president of CEOE International, Marta Blanco, met with businessmen and institutional representatives from Namibia, South Africa, Mozambique, Nigeria, Senegal and Kenya within the framework of the Africa 2023 visitor program of the Ministry of Foreign Affairs.

The meeting, held at the headquarters of CEOE in Madrid, also had the participation of the deputy director general of Multilateral and Horizontal Affairs of the General Directorate for Africa, Tomás López Vilariño, and the technician for Africa of CEOE international Miguel Brunete.

The African representatives showed interest in knowing the composition, structure and operation of CEOE. There was also a broad discussion of how work is being done to increase contacts with the African continent and what are the main obstacles that have been identified.

Likewise, the meeting served to talk about business opportunities in the different sectors of activity of the participating countries. In particular, the following areas were highlighted:

• Finance: The African continent is experiencing strong economic growth, which is generating opportunities for Spanish companies in the financial sector.
• Textile: Africa is an important market for the Spanish textile sector, which can take advantage of the growing demand for quality and design products.
• Health: The African continent has a young and growing population, which is generating a significant demand for health services.
• Renewable energy: Africa has great potential for the development of renewable energies, which offers opportunities for Spanish companies in the sector.
• Consultancy: African companies are increasingly interested in engaging consulting services to improve their competitiveness.

At the meeting, future avenues of business collaboration were also discussed that allow increase the presence of Spanish companies on the African continent in terms of investment. In this sense, the following possibilities were analyzed:

• Creation of joint ventures: Spanish and African companies can establish joint ventures to develop joint projects on the African continent.
• Direct investments: Spanish companies can invest directly in African companies.
• Participation in public tenders: Spanish companies can participate in public tenders for the award of contracts on the African continent.

In addition, issues such as the latest economic trends in Africa, value chains, strategy global gateway, economic diversification or the need for a stable regulatory framework. It was highlighted that all these elements are affecting African and Spanish companies when doing business.

The president of CEOE International, Marta Blanco, highlighted the importance of the meeting to promote economic and commercial relations between Spain and Africa"This meeting is an opportunity to learn firsthand about the business opportunities offered by the African continent and to identify potential avenues for business collaboration," he stated.

For his part, the deputy director general of Multilateral and Horizontal Affairs of the General Directorate for Africa, Tomás López Vilariño, pointed out that the Africa 2023 visitor program Its objective is "to promote the EU's economic and trade relations with Africa and to disseminate a rich and accurate picture of the economic reality of the African continent and the opportunities it offers."

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