IAF 2024 Will Be The Entrance For Indonesian Entrepreneurs To The African Market

JAKARTA - The upcoming 2nd Indonesia-Africa Forum (IAF) will be an entry point for Indonesian businessmen to establish strategic cooperation in African countries, according to the Indonesian Ministry of Foreign Affairs.

The forum titled 'Bandung Spirit for Africa's Agenda 2063' will take place in Bali on September 1-3 by inviting representatives from 54 African countries. The forum was held to optimize the potential for business transactions between the two regions.

The Forum will also hold a business exhibition on September 2-3, which will feature four leading sectors: energy; food and consumer goods; strategic and defense industries; and health, the Ministry of Foreign Affairs said in a press release on Friday.

At least 103 companies and 139 businessmen from Africa and 350 Indonesian businessmen will participate in the event.

A number of SOEs and Indonesian private companies are said to have a strong track record in the African market, including Pertamina, Biofarma, and PT Perkebunan Nusantara (PTPN III).

Litta Ariesca, Director of Marketing and Operations of PT Patra Jasa, said there is great potential in the energy sector in Africa.

"One of them is Kenya, which has the eighth largest potential geothermal energy in the world," he said.

Meanwhile, national pharmaceutical company Biofarma has exported its products to 50 African countries, including Kenya, Liberia, Mozambique, Nigeria, Tanzania, and Zimbabwe.

Indonesia Pavilion plans to invite more than 15 MSMEs in the furniture, fashion, handicraft, and processed food sectors to the business exhibition.

The 15 MSMEs are fostered by Bank Indonesia, BNI, the Directorate General of Customs and Excise of the Ministry of Finance, and HIPMI Womenpreneur, who will showcase their superior products and look for potential business partners from Africa.

The Ministry of Foreign Affairs together with representatives of the Republic of Indonesia and trade attaches in the African region have facilitated exploring business cooperation among Indonesian and African entrepreneurs from July to early August.

According to the Ministry of Foreign Affairs, African entrepreneurs seem enthusiastic about establishing cooperation. They are interested in exploring the investment potential of Indonesian companies to set up factories in Africa.

Products that are widely sought by African entrepreneurs include skin care products, Muslim clothing, coffee, processed foods, and furniture.