African Union and Botho Emerging Markets Group Sign MoU to Spur Private Sector-led Growth
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African Union and Botho Emerging Markets Group Sign MoU to Spur Private Sector-led Growth
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July 13, 2023
13 July, Nairobi, Kenya: The African Union Commission (“AU”) signed a Memorandum of Understanding (MoU) with Botho Emerging Markets Group (“Botho”) to advance Africa’s position in the global political economy through private sector-led growth and development.
His Excellency. Amb. Albert M. Muchanga, Commissioner for Economic Development, Trade, Tourism, Industry and Minerals (ETTIM), at the African Union Commission and Mr. Isaac Kwaku Fokuo, Jr., Founder and Principal of Botho signed the MoU on behalf of their respective institutions on the 11th of July 2023, on the margins of the 14th AU High-Level Private Sector Forum. Also in attendance were Mr. Chiza Charles Chiumya, Acting Director of Industry, Minerals, Entrepreneurship and Tourism at the African Union Commission, and Ms. Aparupa Chakravarti, Director at Botho.
The AU’s Economic Development, Trade, Tourism, Industry and Minerals (ETTIM) Department is mandated to realize Africa's economic integration and transform the continent into a competitive industrial and trade partner in the global economy. Botho Emerging Markets Group is a strategy consulting and investment advisory firm that has spent almost two decades facilitating the exchange of opportunities, partnerships, investments, and ideas between Africa and other emerging economies in the Middle East and Asia.
Together, the African Union’s ETTIM Department and Botho will collaborate to boost intra-African trade under the AfCFTA and strengthen the competitiveness of African economies internationally through a multi-pronged partnership involving research and knowledge production; forging powerful relationships between the AU and the African private sector; and developing strategic ties with the Middle East and Asia, which, as a region, is becoming an increasingly important geopolitical and economic partner for the continent and vice versa.
“Building the Africa we want is a collective task that we must commit to. And the Africa we want can only be built on the foundation of robust intra-African trade powered by a thriving private sector that is able to compete in both regional and global value chains. We are excited to partner with Botho Emerging Markets Group to work towards this shared vision of the Africa we want and the Africa we deserve,” said Amb. Muchanga.
Commenting on the agreement, Isaac Fokuo jr, stated: “We are excited about this historic partnership with the Africa Union ETTIM because it demonstrates a commitment to work hand in hand with the private sector. We look forward to exchanging ideas and unearthing opportunities between the Middle East and Africa for shared prosperity between the two regions.”
For further information, please contact:
Chiza Charles Chiumya | Economic Development, Trade, Tourism, Industry and Minerals Department | African Union Commission | Tel: +251 115 517 700 | E-mail: ChiumyaC@africa-union.org | Addis Ababa, Ethiopia.
Meaza Tezera | Economic Development, Trade, Tourism, Industry and Minerals Department | African Union Commission | Tel: +251 115 517 700 | E-mail: meazat@africa-union.org | Addis Ababa, Ethiopia.
For Botho Emerging Markets Group
Ms. Aparupa Chakravarti | Director, Botho | E-mail: aparupa@botholtd.com | Nairobi, Kenya.