The African Union Chairman, President Alpha Condé of Guinea, has launched a plan to promote the growth of indigenous African multinationals through special initiatives, including tax breaks, special work permits, and special investor services, to accelerate their ability to expand.
The initiative was launched during the African Union Summit, which ended in Addis Ababa, the Ethiopian, the capital on Tuesday, under the Chairmanship of the President Condé. African leaders, including Liberian President Ellen Johnson-Sirleaf, who sent a minister at the launch ceremony, have pledged support.
The Afro-Champions Initiative, aiming to create a platform for all major national private and public companies which have opened branches continentally, hopes to convince governments to agree on the visa-free entry for investors, the special work permits, and investor care services within six months.
President Condé told the AU Summit in Addis Ababa on Monday that he planned to promote initiatives to light up Africa and provide affordable energy to millions who still lack access to energy during his tenure.
