Over 300 political leaders met in the Kenyan capital, Nairobi, to discuss the creation of a new trading block in Africa. The two day long debate focused on the development of partnerships between the European Union and Africa in order to promote business and investment on the African continent.

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There is a clear consensus that the continent’s development depends on regional cohesion and private sector growth.

With economic growth on the continent forecast to drop this year to 2.8% after five years at over 5.5% there is no time to waste

If these objectives are to be achieved African economies will have to establish new priorities – and these will have to take climate change into account.

The European Union has pledged $8.2 billion, with 2.2 billion earmarked for the promotion of regional integration.

The information technologies sector is particularly promising – all the more so now that east Africa has joined the global village thanks to a submarine fibre-optic cable providing broadband internet access. It is now up to African entrepreneurs to seize this new opportunity.