The East-West Africa Amalgamation (EWAA), a regional organisation, which was inaugurated recently, has received a huge boost with a $10 billion investment fund.
The record investment in the future of the newly created regional organisation was made by the National Black Chamber of Commerce, USA. The historic gesture was recorded in Addis Ababa, Ethiopia at the inaugural of EWAA.
The new movement is designed to unlock Africa’s tourism, aviation, trade, commerce, and investment potential in propelling Africa’s economic development to a greater and sustainable height.
Tagged East-West Africa Amalgamation Through Tourism, Trade and Creative Arts, the new initiative is being curated and promoted by Motherland Beckons and IPADA Initiatives, both founded by Wanle Akinboboye, in partnership Accelerating Africa’s Growth Connect (AAGC), and Nigeria Association of Chambers of Commerce, Mines, Industry and Agriculture (NACCIMA).
Charles Debow, president, National Black Chamber of Commerce (NBCC), USA, announced the $10bn investment fund dedicated for the funding of businesses and trade on the continent at Ethiopia Skyline Hotel, Addis Ababa, amid appreciation by dignitaries from across the world.
According to Debow, the investment fund gesture was a move away from the tradition of talking and making unfulfilled promises to an era of practical and concrete action.
He assured on actualising the dream of EWAA through laid out action plans and transactions.
The investment fund, he disclosed, is to open investments and partnerships in the regions, and all over Africa and the Caribbean, for individuals, organisations and governments.
In addition to the investment fund, the National Black Chamber of Commerce through Debow, also announced opportunities of connecting individuals, organisations and governments in EWAA to 200 chambers of commerce networks spread across the United States of America and Canada.
The new wave of development aligned with the actualisation of the dream of Akinboboye, founder of Motherland Beckons and IPADA Initiatives, who through the years, have worked on his pet project of continent building through different activations.
One of them is the IPADA Initiatives, which two years ago inaugurated IPADA Celebrations, a mass movement of people and lovers of Africa from across the world to Africa to celebrate the beauty of the continent through tourism and investing in businesses to change the dynamics of the continent’s development paradigm.
Speaking at the event, Akinboboye, who doubles as the convener of EWAA, commended the president of NBCC and the organisation for the huge investment fund meant for projects in Africa and the Caribbean.
He called on individuals and organisations present at the event to make pitches for part of the investment fund for their projects, noting that it is going to be action immediately, and ‘no more talk.’
Some of the ongoing projects to be funded through the fund include those in Wolaita zone, and Wolyta Soddo, where La Campagne Tropicana Agro Ecotourism has taken off, with a huge investment in land areas and agreements already in place; La Campagne Agro-Eco Heritage Resorts and Farms in Taraba State, Nigeria and the Caribbean; and the about to take-off projects between La Campagne and the Ekiti State Government, Nigeria.
An indication that it was time for action as earlier canvassed by NBCC’s president and Akinboboye, were the pitches made on the spot by different individuals and organisations for a number of projects, with over 20 Memoranda of Understanding (MoU) signed.
As part of his individual support, Akinboboye made investments running into hundreds of dollars in different organisations at the event.