Being presented an award - Raed Khoury, Lebanon's Minister of Economy and Trade Being presented an award - Raed Khoury, Lebanon's Minister of Economy and Trade Lebanese Diaspora Energy - LDE

Invest in Africa, Lebanese Tycoons Meet in Abidjan Featured

By Business & Economy / Tuesday, 06 February 2018 02:19

Representatives of Lebanese business community all over Africa congregated for a two day meeting in Abidjan, the Ivoirienne capital on Friday 26 January under the theme, “Lebanese diaspora energy". Delegates to the conference which was hosted at Sofitel Abidjan Hôtel Ivoire, shared their experiences on the African business and investment environment. The participants also discussed ways of coordinating their business strategies with a view of capitalising on new opportunities in Africa’s business environment.  

For close to 500 business people of Lebanese descent, drawn from all of Africa’s regions who participated in the meeting, the message “invest in Africa” echoed clearly. Khalil Mohamad,  Lebanon’s Ambassador to Côte d’Ivoire declared the conference opened with a message to participants, not to turn their back on Africa, calling it a “beautiful business destination” with a lot of investment opportunities to offer.   Jean-Claude Brou, Ivoirienne Minister of Mines and Industry, and official representative of his country’s government thanked the participants for coming to Côte d’Ivoire and “wished them good luck and excellent work” in course of their deliberations. 

The conference was nearly marred by differences of opinion and views on its program of events and quarrel over the listing of dignitaries to grace it. In his a presentation relayed via live videoconference facility, Gebran Bassil, Lebanon’s  Foreign Minister thanked the Lebanese business community in Africa for making their country proud by their diligent efforts and contribution to Africa’s rising profile as a business and investment destination. He  assured the participants of his government’s support for enterprise.  Also present at the conference was Raed Khoury, Lebanon's Minister of Economy and Trade. 

Approximately 500,000 people of direct Lebanese descent reside in Africa, while an estimated 100,000 Lebanese people live in Côte d’Ivoire alone. Figures released by the Lebanese Chamber of Commerce and Industry in Côte d’Ivoire indicate that  "Lebanese companies in Côte d'Ivoire generate more than 150,000 jobs, generate an annual turnover of over 180 billion CFA francs (274 million EUR) and contribute an average of 350 billion CFA (or 534 million EUR) as tax”. This equates to 15% of total tax revenue collected annually in Côte d’Ivoire.

 

Author

Jasmine Sabeh

Jasmine Sabeh

Media

LDE Africa 2018 | Côte d'Ivoire (French subtitles) Lebanese Diaspora Energy Published on 17 Jan 2018
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