26 February 2016: Participants at the first Private Sector Investment Conference (PSIC) for the Africa Great Lakes Region reviewed current and emerging challenges to private sector investment, and identified priorities and policy recommendations for economic cooperation, trade opportunities and job creation in the region. The Conference also marked the third anniversary of the signing of the Peace, Security and Cooperation Framework for the Democratic Republic of Congo (DRC) and the Africa Great Lakes Region.

The Conference met from 24-25 February 2016, in Kinshasa, Democratic Republic of Congo (DRC), bringing together over 500 representatives from the private sector, government, civil society and the UN. It was organized by: the Office of the Special Envoy of the UN Secretary-General to the Great Lakes, Said Djinnit; the International Conference on the Great Lakes Region; and the Government of the DRC, with support from the UN Global Compact (UNGC). It was convened following a decision of the second meeting of the Regional Oversight Mechanism of the ‘Peace, Security and Cooperation Framework agreement for the DRC and the Region,’ which took place in Addis Ababa, Ethiopia, on 31 January 2014.

Addressing the conference, UN Secretary-General Ban Ki-moon highlighted the importance of UNGC’s Africa Strategy and of attracting private investment, promoting business activity and enhancing regional economic cooperation and integration. He called on governments to create an environment that ensures business operations and investments are responsible, sustainable and predictable. Ban also offered recommendations to African private sector leaders, including to: strengthen productive capacity; create decent jobs and livelihoods; foster inclusive development and shared prosperity; ensure that actions can help realize the Sustainable Development Goals (SDGs) and advance the Paris Agreement on climate change; and commit to observing responsible business conduct. In comments directed at development partners, Ban called for building and enhancing the productive capacities of the Great Lakes countries, and for helping to integrate the region into international value chains.

Djinnit encouraged companies and investors to continue looking for opportunities in the region that encourage sustainable development and long-term stability. DRC President Joseph Kabila called for improving the investment climate in order to facilitate new public-private partnerships (PPPs), and for investors to respect the rule of law. Kabila expressed hope for improved relationships between the private sector and government decision-makers, and for replacing violence and insecurity with continued economic growth and job creation.

During the conference, 25 regional investment opportunities were presented in order to generate business interest, and to encourage participants to take advantage of the region’s resources. The Prime Ministers of the DRC and Rwanda and the Vice-Presidents of Burundi and Angola held a panel to highlight their countries’ efforts to improve the region’s investment climate. Thematic sessions took place on infrastructure, energy, mining, agriculture, tourism, information and communications technology (ICT) and finance. At a discussion on ‘Promoting Responsible Business in the Great Lakes Region,’ organized by UNGC, business leaders and the investment community explored how responsible business, investment and public policy are critical to achieving peace and stability. [PSIC Website] [PSIC Press Release] [UN Global Compact Press Release] [Statement of UN Secretary-General] [UN Global Compact’s Work in Africa] [UN Great Lakes Region Website] [Peace, Security and Cooperation Framework for the DRC and the Africa Great Lakes Region]