Now is Defining Moment to Address ‘Next Generation in African Markets’

 Verena Utzinger delivering her welcome address (Photo SABC)

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The President of Swiss-African Business Circle, (SABC) Verena Utzinger has posited that an estimated working age (15 – 64) population of Africa put at over 800 million provides economic opportunities for the continent whose youths “represent a transformative economic force as innovators, problem-solvers, entrepreneurs, and emerging leaders of the continent.

Verena expresses while welcoming participants to the 2022 African Business Day (ABD) held recently in Trafo Congress Center, Baden, Switzerland. The physical presence of participants at the conference marked the first since the surge of Covid-19 pandemic that made it impossible for physical appearance in the last two editions. In addition to the in-person appearance this year, a supporting virtual platform was also held in tandem bringing Swiss-based and African-based companies from nearly 30 countries.

The ABD’s theme for this year: ‘Next Generation in African Markets’  “is completely in line with our hybrid format. Through new technologies that continue to evolve, our world is more connected than ever, and it is for this reason that the demographics in African countries cannot be ignored,” she explains.

Citing a demographic projection of Africa’s population estimated at 1 billion by 2030, with approximately 20 million young Africans entering the labour market yearly, the president says the current composition on the African continent presented a defining moment for the region which must be considered together with other major trends such as climate change, rapid urbanization and digitalization.