Business leaders from across the Southern African Development Community (SADC) and Italy have committed to a new phase of economic cooperation, signing a landmark CEO Manifesto during the 12th annual TEHA CEO Dialogue on Southern Africa. Held on 20–21 November 2025 in Johannesburg, on the sidelines of the G20 conference, the Dialogue brought together over 150 CEOs, policymakers, financiers, and development partners. Their objective was clear: to define a shared blueprint for unlocking Africa’s vast economic potential and driving sustainable, inclusive growth across the continent.

Organised under the auspices of the African Development Bank Group and hosted by The European House – Ambrosetti (TEHA), this year’s Dialogue placed renewed emphasis on the private sector’s central role in Africa’s transformation. According to the organisers, the private sector accounts for over 80% of Africa’s total production, two-thirds of its investment, three-quarters of its credit, and employs more than 90% of the working-age population. With such influence, participants agreed that coordinated action among African and international businesses could significantly accelerate development outcomes.

A Strategic Manifesto for Africa’s Growth

The newly signed CEO Manifesto outlines ten strategic priorities for cooperation between African and Italian businesses and their respective governments. These priorities highlight both the challenges and the immense opportunities present across African markets.

1. Energy for growth:
The Manifesto emphasizes that with strategic investment, modernization of energy markets, and regulatory reforms, Africa could become a net energy exporter. The continent’s substantial renewable resources and growing clean-tech potential make it well-positioned to lead the global transition toward clean energy industries.

2. Infrastructure as a growth catalyst:
Africa’s infrastructure gap—spanning transport, logistics, energy systems, and digital networks—remains one of the biggest obstacles to economic transformation. The Manifesto notes that closing this gap through targeted investment could lift GDP growth by up to 2% annually, unlocking cross-border commerce and reinforcing regional integration.

3. Enhanced visa access and mobility:
Simplifying visa processes and reducing barriers to the movement of people and goods will accelerate trade, innovation, and investment. Business leaders argue that greater labour and talent mobility is essential for Africa’s competitiveness in a globalised economy.

4. Stability as a business enabler:
Countries experiencing conflict lose around 2.5% of GDP growth per year. The Manifesto calls for stronger public-private cooperation to promote stability, encourage job creation, and support inclusive growth that reduces tensions and safeguards long-term development.

5. Developing African business champions:
Africa counts thousands of promising startups and SMEs with the capacity to scale into regional or even global leaders. By supporting entrepreneurship ecosystems and enabling access to capital and markets, the Manifesto envisions Africa’s next generation of multinational champions emerging from within the continent.

6. Scaling finance for SMEs:
Today, Africa faces a staggering SME financing gap, estimated at more than US$331 billion in sub-Saharan Africa alone. Closing this gap is critical for enabling small businesses to expand, modernize, invest in technology, and contribute to productivity growth.

7. Unlocking Africa’s digital potential:
Only 36% of Africans have access to affordable internet. The digital divide—particularly between urban and rural communities—limits access to markets, skills, financial services, and entrepreneurial opportunities. The Manifesto stresses accelerating digital infrastructure, fintech innovation, and digital literacy as essential components of sustainable development.

8. Harnessing youth and human capital:
By 2075, one in three working-age people worldwide will be African. Turning this demographic shift into a “demographic dividend” requires bold investments in education, healthcare, and skills development, ensuring young people are equipped for future industries.

9. Women’s empowerment and gender equality:
Unlocking the full economic potential of African women remains one of the continent’s most powerful levers for growth. The Manifesto calls for systemic inclusion of women in business, leadership, and innovation.

10. Regulatory stability:
Finally, stable, predictable, and transparent regulatory environments are essential for attracting foreign direct investment. Countries with consistent regulatory frameworks can increase FDI inflows by up to 30%, making this a central pillar for long-term economic partnerships.

Leaders Voice Optimism for Africa’s Economic Future

Speaking at the signing ceremony, Anthony Knox, South Africa Country Executive for Bank of America, said the global perspective on emerging markets—especially Africa—is increasingly positive. “A positive flywheel effect of investment benefits markets, lowers borrowing costs, enables governments to invest more, and boosts consumer confidence,” he said. “This creates a virtuous cycle of growth.”

Valerio De Molli, Managing Partner and CEO of The European House – Ambrosetti, described the Manifesto as a milestone in Italy–Africa cooperation. He highlighted the long-standing ties between Italy and African nations and stressed the need for deeper collaboration in trade, workforce development, and financing. “Through this Manifesto, we aim to strengthen our ties with Africa, while working with African leaders to expand trade, unlock financing, and build a vibrant and empowered workforce,” De Molli remarked.

A New Phase of Private Sector Leadership

The 12th CEO Dialogue underscores an important shift: Africa’s development agenda increasingly depends on coordinated private-sector leadership alongside governments and international institutions. With commitments now formalized, the signatories aim to channel investments, foster entrepreneurship, and build capacity across African economies.

As Africa moves into a new phase of economic transformation, this Manifesto may become a foundational reference point for cross-continental cooperation—one that ties Africa’s development ambitions to tangible actions, shared investment priorities, and stronger international partnerships.

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