The Future Investment Initiative Institute (FII7) conference kicked off in Riyadh, on Tuesday October 24 and it will run till Thursday October 26th.
The FII7 is a gathering of over 6,000 delegates including political leaders, ministers, CEOs, business leaders, investors, and entrepreneurs to discuss and address global challenges, with leading consulting firms driving a fair share of the agenda.
The Future Investment Initiative Instit
ute is a global non-profit foundation with the aim to help the world solve challenges in four critical areas: artificial intelligence and robotics, education, healthcare and sustainability.
The conference is organised by the Public Investment Fund (founding partner) and the Ministry of Investment of Saudi Arabia (vision partner), and is backed by 23 strategic partners and co-delivered in partnership with knowledge partners and academic partners.
Themed ‘The New Compass’, this year’s event at the King Abdulaziz International Conference Center delves deep into socioeconomic, geopolitical, and corporate transformations that are taking place across FII’s four key themes of scope.
One of Africa’s representative, Nigerian economist and philanthropist, Anthony Onyemaechi Elumelu CFR, chairman, Heirs Holdings, Transcorp, United Bank for Africa and the founder of The Tony Elumelu Foundation, during a stimulating fireside chat with event host, Richard Attias gave an insight into processes designed to give Africa a facelift.
Speaking at the event, Elumelu highlighted the significance of Africapitalism on the continent of Africa.
According to him, private sectors have a big role to play in developing the continent, saying all hands must be on deck to develop the continent.
Continuing, he said that Africapitalism is a call on the private sector to play it roles in empowering the youth population, empowering young men and women in developing the continent.
on the business model used in achieving their goal, Elumelu added that transcorp the largest electricity generating company in the world today, has been involved in critical sectors that help to fix some challenges on the continent.
He explained that Africa has to create a bigger market where Africans need to consume what they produce and produce what they consume.
He said Africans should endeavour to be investors on the continent.
The entrepreneur further explained that Africa’s demography is favourable and it should be used to its advantage.
He added that despite Africa’s challenges, the continent is ready for investment because it has huge investment opportunities, saying the continent needs a marshal plan and a long term capital.
Elumelu further noted that the idea is to work together with the western world to open their eyes of the huge investment on the African continent.
Richard Attias, CEO of the Future Investment Initiative Institute, said that the event’s line-up is stronger than ever before.
Yasir Al Rumayyan, Chairman of the Future Investment Initiative and Governor of the Public Investment Fund, will deliver a keynote discussing the role of investment in combating climate change, ensuring technology benefits all, and equitable access to resources.
The event will also feature an Energy Summit, investigating the pace of global decarbonization and how Paris Agreement goals can be realized, and an Innovation Hub that will focus on the future of GPT, Web3 adoption, advancements in autonomous robots, and unlocking quantum computing’s potential.
Partners play an integral role in delivering speakers and insights. Among the line-up of strategic partners are Aramco, Emaar, Neom, PepsiCo, Sabic, Saudi Electricity Company, and Standard Chartered.
Insights, thinking, and dedicated panel discussions are supported by knowledge partners, which includes nine consultancies: Accenture, Arthur D. Little, Bain & Company, Boston Consulting Group, Deloitte, EY, Kearny, KPMG, McKinsey, and Strategy&.
Well-known academic partners include King Abdullah University of Science and Technology and Stanford University.
“Our partners are what make the FII Institute community so impactful. This year, we are proud to recognise partners from 42 leading global corporations, consulting firms, universities and institutions. Our partners reflect an unparalleled concentration of great minds and leaders, and alongside this community, the Institute is making strides towards our only agenda: Impact on Humanity,” said Al Rumayyan.
