ISLAMABAD, Sept 30 (ABC): Pakistan is looking to deepen its economic footprint in Africa through joint ventures and stronger private-sector partnerships. The focus is on opportunities in the continent’s expanding consumer markets, agriculture, minerals, technology and other growing sectors.
The Pakistan-Africa Economic Council (PAEC) is seeking to move economic engagement beyond limited diplomatic and political contacts. It aims to connect Pakistani businesses directly with African partners and develop commercially viable projects in selected countries and sectors.
The council aims to help raise Pakistan-Africa bilateral trade to $15 billion by 2030. It plans to achieve this by improving business-to-business connectivity, promoting Pakistani products and services, and facilitating investment and joint ventures.
Its priority areas include agriculture, textiles, pharmaceuticals, information technology and services, minerals and mining, food, healthcare, education and infrastructure. The initiative also seeks to address limited awareness of opportunities and encourage closer interaction between business communities on both sides.
Africa offers growing business opportunities
PAEC Patron-in-Chief Ambassador (retd) Hamid Asgher Khan said the council was established to connect Pakistani businesses, entrepreneurs and manufacturers with growing economic and investment opportunities across Africa.
Talking to Wealth Pakistan from Kigali, Rwanda, he said significant gaps remained in Pakistan’s engagement with Africa. These included limited policy attention, political engagement, business delegations and awareness of opportunities.
“Pakistan is very busy with the Middle East, the EU, the Gulf and other regions, and policymakers and decision-makers do not get sufficient time to engage with Africa,” he said.
Khan noted that Africa comprises 54 countries, with several economies experiencing strong growth. Many also offer a relatively favourable environment for investment and business partnerships.
He said energy costs in some African countries were significantly lower than in Pakistan. Meanwhile, the continent possesses abundant land and water resources that could become increasingly important for global food security.
“Africa is a very large continent with ample land and water, which makes it increasingly important for food security,” he said.
He also highlighted Africa’s vast mineral resources at a time when global demand for critical and industrial minerals is rising.
“Above all, there is a growing global demand for the minerals these days, and Africa has some of the largest mineral resources in the world,” he said.
According to him, the continent’s population of around 1.4 billion, combined with its large youth population, is creating rapidly expanding demand for goods and services.
“The demand for goods and services is exploding here,” he said.
Khan added that geographical distance should not be considered a major obstacle to stronger Pakistan-Africa economic relations. A flight from Karachi to Ethiopia, for instance, takes only around five hours, yet Pakistan’s political and business engagement with Africa remains limited.
PAEC seeks to bridge engagement gaps
Khan pointed out that Pakistan saw very limited high-level bilateral visits to African countries over the past 15 to 20 years. This reflected a wider political and institutional gap in engagement.
“There is a political-level gap, an awareness gap and an information gap, along with a lack of business delegations,” he said.
Against this backdrop, PAEC has been created as a private-sector platform to strengthen direct business-to-business engagement between Pakistan and African countries.
“We have established this council to address these gaps and provide a platform for the private sector to engage with Africa,” he said.
Khan said a PAEC delegation was currently participating in a business forum in Rwanda and would travel to Ethiopia for business meetings.
The council is also developing a network of local representatives in different African countries. They will identify business and investment opportunities and communicate them to Pakistani companies.
“The representatives of the Pakistan-Africa Economic Council in different countries identify opportunities, and we pass these opportunities on to the business community in Pakistan,” he said.
At the same time, PAEC is seeking to introduce African investors to business and investment opportunities in Pakistan. However, Khan said the council’s primary focus was not simply on attracting foreign investment but on developing joint ventures.
Joint ventures at centre of strategy
“Africa is on the move and on the rise right now. The chances of investment from Africa in Pakistan may perhaps be relatively limited, but we strongly believe in joint ventures,” Khan said.
Under the council’s proposed model, African partners would ideally provide land and basic infrastructure. Pakistani partners, meanwhile, would contribute technology, production capabilities, expertise and other resources.
“Our entire model is based on joint ventures. The host country in Africa should at least provide land and infrastructure, while technology and production partners can be brought in from Pakistan,” Khan said.
PAEC has also begun cooperation with Türkiye and China to strengthen its business network. The cooperation could facilitate access to technology, finance and industrial partnerships.
In this regard, Khan said the council had signed a formal memorandum of understanding with a business association in Shenzhen, China.
PAEC’s principal partners from Shenzhen are scheduled to travel to Ethiopia to join the council’s delegation and participate in business engagements, he said.
Council targets countries, sectors for engagement
Khan said the council’s broader objective was to connect credible business opportunities with credible and committed partners. It also wants companies and entrepreneurs using its platform to fulfil their commitments and maintain reliable business relationships.
Advocacy and awareness-building are among PAEC’s other key objectives. Greater knowledge of African markets could eventually translate into stronger trade and investment relations.
“We have no doubt that joint ventures and bilateral trade will increase along with greater awareness of opportunities,” he said.
Khan added that PAEC had shortlisted specific African countries and sectors for priority engagement. The council is tailoring the composition of its business delegations accordingly.
“We have shortlisted specific countries and sectors on which we are focusing, and the composition of our delegations is being arranged accordingly,” he said.
