ABEC NIGERIA 2020

The Lagos Chamber of Commerce and Industries (LCCI) is honored to host the 2020 Africa Business Ethics Conference (ABEC) in Lagos, Nigeria in collaboration with the official sponsor of ABEC, the Center for International Private Enterprise (CIPE).

ABEC 2020 themed “Tackling Corruption to Reduce Poverty, Unemployment and Insecurity in Africa: A Necessity for Building Resilience”, will convene global, regional and in-country experts, policy makers, diverse business leaders and representatives, and civil society to facilitate solution-driven dialogue on the subject matter that concerns majority of Africa’s growing economies. The conference fosters connections, networks and continued engagement across stakeholder groups in order to support  like-minded reform-oriented efforts and interventions that produce solutions, thought leadership, and useful guidance to leaders across the continent. The 2020 ABEC will commemorate International  Anti-Corruption Day(December 9,2020)

Date: December 7th – 9th, 2020

Venue: Hybrid (Virtual and in-person attendance for some panelists)

Organizer: The Center for International Private Enterprise (CIPE) 

The Lagos Chamber of Commerce (LCCI)

Thematic focus of deliberations of the conference

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Think Africa

What proactive interventions are required to change the high perception of corruption in Africa and what measures are needed to change the public perception that corruption is an irresolvable problem in Africa?

Business – led Solutions

What are companies, business membership organizations, chambers and the network of private sector actors and employers doing that is or could be effective in mitigating opportunities for corruption in Nigeria and in Africa?

Economic inclusion

What pragmatic actions and collaborative efforts are required to deepen economic inclusion in Nigeria and across Africa to diversify opportunities making a business case for probity in the continent?

Strengthen Governance Institutions

How should existing regulatory and governance institutions and structures be strengthened or reformed for greater effectiveness in mitigating corruption in order to unlock the potential for productivity and growth?

 

Transparency and accountability

How can the accountability and transparency systems be enhanced to boost broad-based compliance with codes of ethics by companies and institutional rule-based due process by government?

Quick Links

ABEC 2020 ANTICORRUPTION  PITCH

ABEC 2020 AMBASSADOR

The combined Gross Domestic Product (GDP) of the 48 countries that make up sub-Saharan Africa is $1.755 trillion with an estimated population of 1.1 billion consisting of 60% under the age of 25. In addition to this demographic capital, is the huge mineral deposits available across the continent which can provide valuable revenue to boost economic growth and improve the living conditions for citizens in the region. In addition, Africa has recorded stable economic performance with a decadal average growth rate of 5% albeit slowed to 3.4% in 2019

It is trite but true that the widespread perception of corruption is a factor that has hindered FDI and private sector growth (except in specific sectors) in Nigeria constraining the Nigerian economy. The limited integration of the Nigerian economy to global value chains in itself has had an effect on efforts to influence the business culture towards greater compliance with local and global rules and norms of business ethics and integrity.

Although Nigeria has the largest GDP on the continent, with a large market size and abundant mineral resources, unemployment and poverty rates are high. Prior to the pandemic, the country had the highest number of poor people in the world and this is likely to get worse post-pandemic. The capacity to recover from the pandemic with some stability hinges on the country’s ability to rein in the level of corruption that has plagued the public and private sector

COVID-19 presents a new dimension of risks and uncertainties including predicted economic volatility and the risk associated with increased global interconnectedness. This requires competence and dedication to build resilience in governance and economic systems. The ultimate objective would be to reduce poverty, then through sustainable localized interventions working with broad stakeholder groups, address the most challenging governance issue – corruption. The following local and global necessities makes this a pressing issue

Decline in FDI

Africa is projected to see a decline in FDI of between 25% and 40% due to the COVID-19 pandemic. Barring that, global political and economic uncertainties continue to fuel the rising populist and protectionist tendencies which is likely to affect aid from developed economies to Africa to strengthen democracies. Nigeria and countries in the region must therefore develop stronger resilient democracies and economies

Systemic corruption

Nigeria’s systemic corruption has been exploited during the COVID-19 emergency to a point that reinforces the unethical norms reversing efforts to rebuild public-citizen/private sector trust

Volatility in the global oil market

While the pandemic has led to severe and still unfolding economic consequences for countries around the world, Nigeria faces an especially challenging recovery due to the volatility in the global oil market, Nigeria’s major export product. The toll on the economy will be reflected in the unemployment rate, the poverty levels and the avoidable cost in health and wellbeing of the most vulnerable citizens

Domestic risk of instability

As the largest economy on the continent, Nigeria presents great trade advantage with global partners and plays a de facto leadership role contributing immensely to the stability and growth of many countries in the region. This is why the domestic risk of instability due to rising economic inequality and sociopolitical tensions arising from unchecked corruption is as well a threat beyond the country’s borders

The ABEC 2020 theme will be Tackling Corruption to Reduce Poverty, Unemployment and Insecurity in Africa: A Necessity for Building Resilience

Add to My Calendar 2020-12-07 2020-12-09 West Central Africa ABEC NIGERIA CONFERENCE 2020 The Lagos Chamber of Commerce and Industries (LCCI) is proud to host the 2020 Africa Business Ethics Conference (ABEC) in Lagos, Nigeria in collaboration with the official sponsor of ABEC, the Center for International Private Enterprise (CIPE). ABEC will convene global, regional and in-country experts, policy makers, diverse business leaders and representatives, and civil society to facilitate solution-driven dialogue on the subject matter that concerns majority of Africa’s growing economies. The conference fosters connections, networks and continued engagement across stakeholder groups in order to support like-minded reform-oriented efforts and interventions that produce solutions, thought leadership, and useful guidance to leaders across the continent. The 2020 ABEC will commemorate World Anti-Corruption Day of 2020 Hybrid (Virtual and in-person attendance for some panelists) The Center for International Private Enterprise (CIPE)<br /> The Lagos Chamber of Commerce (LCCI)

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