Rosa Whitaker, Vice-Chair and President of Dominion Television, gave a passionate contribution to closing Africa’s infrastructure gap as a key panelist at the 29th Afreximbank Annual General Meetings (AAGM2022) in Cairo, Egypt, in the presence of His Excellency President Abdel Fattah Saeed Hussein Khalil el-Sisi, a transformative leader of our time.
Whitaker detailed the actions required to accomplish this goal and shared her vision of a unified Africa inclusive of all members of the diaspora. “It is time for us to come together as one Africa, putting aside our differences and working towards a common goal.” She emphasized that if there is unity within the Diaspora and the Africans on the continent, our community would be a potent force by merging elements, the resources, and strengths- both economic and cultural, that bring us together. “In the United States, when I look at the African American community, we have 1.6 trillion dollars in consumer spending in income”, she stated.
BRIDGING THE FINANCIAL GAP BY LEVERAGING THE PRIVATE SECTOR AND TAX INCENTIVES
Rosa Whitaker shared that to bridge the gap, Africa should leverage their relationship with the United States by tapping its greatest strength, which is its bond market. She adds that “President Biden has proposed a similar initiative for infrastructure for Africa and the G7 group,” that the echo chamber must be traded around since it is a method for America and Western nations to advance without necessarily increasing their budget deficits.
One solution proposed by Whitaker is providing tax incentives to encourage the private sector to invest in businesses in Africa. Rosa Whitaker gave an illustration by noting that if an American business invests in infrastructure in Africa, it will be able to bring its earnings back to the US tax-free and receive some tax breaks.
Rosa Whitaker appreciates the African Export-Import Bank for hosting an outstanding Afreximbank Annual General Meetings (AAGM2022), complimenting the occasion as an excellent forum for the exchange of innovative ideas and showcasing remarkable work that is already in progress.
The 29th Afreximbank Annual General Meetings (AAGM2022) was held in Cairo, Egypt from June 14-18, 2022.
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