Chairman of SIFAX Group, Dr. Taiwo Afolabi, has emphasized the need for greater investment in infrastructure, jobs, and trade as part of global efforts to prevent conflicts and promote lasting peace. Speaking at the United Nations General Assembly High-Level Global Executive Roundtable on Diplomacy, Multilateralism and Conflict Resolution in New York, Afolabi argued that the international community should shift its focus from reacting to conflicts after they occur to addressing the economic and social conditions that can fuel instability.
According to Afolabi, peace and economic prosperity are closely linked, with investment creating opportunities that can strengthen societies and reduce tensions. He stated that "peace creates the environment for investment, investment creates opportunity, and opportunity strengthens the foundations of peace." This approach is particularly relevant in today's world, which faces multiple challenges, including geopolitical tensions, economic uncertainty, climate pressures, inequality, and declining trust in institutions.
Afolabi highlighted the significance of addressing these problems through closer cooperation among governments, businesses, and international organizations, with diplomacy, economic development, and conflict prevention pursued together. He emphasized that the link between peace and development is crucial for Africa, where poor infrastructure, limited access to financing, trade barriers, and inadequate economic opportunities continue to constrain growth.
The SIFAX chairman called for an investment agenda to accompany Africa's peace-building efforts, focusing on transport infrastructure, ports, energy, technology, manufacturing, agriculture, healthcare, education, and human capital. He also stressed the importance of stronger regional value chains and better connections among African economies, which would depend on more than just agreements between governments.
Afolabi emphasized that the success of the African Continental Free Trade Area (AfCFTA) would rely on investment in infrastructure, efficient logistics, digital systems, and financing, as well as strengthened political cooperation. He noted that trade and connectivity can create shared interests among nations, and that countries must invest in these areas to reap the benefits of the AfCFTA.
The private sector also plays a vital role in strengthening economic ties between communities, businesses, and countries, according to Afolabi. Drawing from SIFAX Group's diverse operations, he demonstrated how infrastructure can be seen not only as a business opportunity but also as a tool for economic development and cooperation. A functioning logistics system, for example, can connect farmers to markets, manufacturers to consumers, and businesses to international value chains.
Ultimately, Afolabi's message is that economic connections can create common interests among countries and communities, encouraging cooperation and making infrastructure an important part of wider peace-building efforts. By investing in infrastructure and promoting economic development, countries can work towards a more peaceful and prosperous future.
Key points
- Dr. Taiwo Afolabi emphasizes the need for greater investment in infrastructure, jobs, and trade to prevent conflicts and promote lasting peace.
- The link between peace and development is crucial for Africa, where poor infrastructure and limited access to financing continue to constrain growth.
- The success of the African Continental Free Trade Area (AfCFTA) depends on investment in infrastructure, efficient logistics, digital systems, and financing, as well as strengthened political cooperation.
