AFRICA ISLAMIC ECONOMIC FORUM – AIEF 2020

EVENT OVERVIEW


Endowed with vast human and natural resources, 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 a continent with significant potentials for economic development, cooperation and integration.

While there is continuous demand in Global markets for what Africa can produce, making connections with these markets is an increasingly sophisticated business, requiring, for the most part, small – medium – large scale enterprises with professional management and technical expertise. The scarcest factors are poor (physical and economic) infrastructure, human capital, risk capital, or equity, and the entrepreneurs willing and able to develop and manage such businesses.

The Africa Islamic Economic Foundation (AFRIEF) is therefore launching the Africa Islamic Economic Forum (AIEF), as a premier annual platform dedicated to fostering the full spectrum of Halal Economy offerings – from banking, capital market and insurance products down to the Halal Industry – as an alternative paradigm of economic development – to advance Africa’s economic development and diversification plans. As a platform for dialogue and debate on socio-economic issues facing Africa, each year the Forum would tackle the critical issues, develop new and alternative insights and ideas on policy priorities for Africa’s decision-makers.

The maiden edition of the Forum is scheduled to take pace  in Abuja, Federal Republic of Nigeria on the 23rd – 24th November, 2020, under the theme:  Stimulating Africa’s Economic Growth through the Halal Economy.

RATIONALE

The rational for the theme of the Forum is to create better awareness and understanding among African leaders, policy makers and stakeholders, the academic and professional communities about the Halal Economy and how it can advance Africa’s economic development plans and economic diversification program.

OBJECTIVES

This high level Forum is designed to, within the framework of national priorities, meet four core objectives: (a) consensus-building, by providing a platform for intergovernmental and private sector driven debates and inquiry; (b) policy-oriented analysis, by identifying key issues underlying the Halal economy and the dynamics of Halal industries in world markets; (c) developing an integrated food economy in Africa, by fostering agricultural diversification and efficient agricultural production that take advantage of innovative technologies and practices, tailored trade and investment approaches, well-functioning domestic markets and strategic conservation of food and water; and (d) technical cooperation, by helping the various Governments of African countries to articulate an alternative development strategy that can optimize the economic potential of the Halal (Ethical) Economy to stimulate private investment, attract new technologies, promote entrepreneurship and set the basis for a an export-led strategy for the emerging Halal economy in Africa;

The event therefore, provides a platform for key stakeholders, policymakers, business leaders, academics, researchers, students, practitioners and other leaders of society from Africa to map the sectors and sub-sectors of the 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 develop and maximize Africa’s potential for tapping into the USD$3 trillion Global Halal Economy.

AIEF AS AN ISLAMIC INVESTMENT PLATFORM

AIEF is a Forum to share best practices, receive introductions to potential clients and partners, to be updated on the latest investments opportunities and the key growth sectors in Africa.  With a real GDP of $2.19 trillion in 2017 though small compared with the United States’ $21.3 trillion GDP and India’s US$ 2.972, Africa’s GDP is larger than Russia’s US$1.630 and Brazil’s US$1.868. Since year 2000, Africa has been the second-fastest-growing region in the world and among the world’s 10 fastest-growing economies. As the economies of countries of Africa further globalizes and expands, so are its requirements for equipment and services for major sectors such as Agriculture, Tourism, Energy, Environment, Healthcare, High-tech, Infrastructure, Transportation. Investments in these sectors will exceed hundreds of billions of dollars in the medium term.

REASONS TO ATTEND                 

Participants will be Exposed to:-

  • Internationally renowned and prominent speakers from the Halal Economy.
  • High profile international policy makers from government and the Halal Economy will be contributing their experiences.
  • Debate the standardization of Halal certification protocols and processes in Africa
  • Discover new lucrative investment opportunities that will help you exploit opportunities in the Halal sector
  • Design effective marketing strategies for Halal products
  • Discussions, which will give insight into the practical aspects of trade and investment challenges in Africa.
  • Practices of translating policies into workable documents.
  • Debates on identifying the need for economic diversification in Africa.
  • The identification of concrete interventions and solutions, which will promote Halal trade and investment in Africa and attract FDI.

EXPECTED OUTPUTS

A Declaration to be known as the Abuja Declaration on Halal Economy is expected to be issued at the end of the Forum, which would among other things, call upon governments, the private sector, civil society, and international organizations to adopt the stated declarations in an effort to construct the Halal economy as an alternative paradigm of economic development in Africa. Additionally, a summary report of the Forum would propose a plan of action to be conducted with the support of the Islamic Development Bank and relevant International agencies, as well as the establishment of an institutional mechanism to coordinate the construction of a solid basis for enhancing the potential of Halal economy and to facilitate concerted policy actions both across and within countries in Africa.

CONSULTATIVE MEETING OF AU – OIC PARLIAMENTARIANS

The Forum will also feature a Consultative Meeting of the parliamentarians of African countries and member countries of the OIC, which is aimed at considering the key features of the legislative basis for mutual economic cooperation between Africa, the Middle East and Asia as well as key legislative enablers for Halal Economy.

MATCHMAKING SESSIONS

Matchmaking sessions will be held on each day of the Summit and will be devoted to bilateral negotiations between government, companies, SMEs, in production, R&D and services with business partnership proposals, including investment projects, and willing to identify potential business partners in the Africa.

COMPLIMENTARY ONE-ON-ONE ADVISORY SESSION

In addition, all participants can pre-book a complimentary 30 minute one-on-one advisory session on the side line of the event with AFRIEF’s senior analysts to discuss issues of particular interest or concern to their specific geographical areas or sectors.

COMMUNICATION STRATEGY

The Publicity of the Summit will be undertaken through the traditional avenues of adverts in the media (e.g. Print, Mass communication, electronic, social networks etc), as well as focused roadshows to particular audiences to raise awareness of the summit, pitch relevant investment opportunities, and garner support. A Communication and Marketing strategy will be developed to raise awareness about the Summit, raise external profile of the three Northern regions, provide information and increase awareness about opportunities (and deal with challenges and misconceptions).  Activities will include identification of target audience, development of key messages, identification of communication medium, Summit branding, development of a relationship with key journalists in and outside the three Northern regions, and relevant capacity building for front-line investment promotion officers.  A communication campaign with well-prepared broadcast and published content will be designed and launched by AFRIEF as soon as possible.