The Iustum Center for Democracy and Governance (ICEDEG Africa LBG) has called for stronger collaboration among African businesses, governments and regulatory institutions to promote entrepreneurship, fair competition, consumer protection and sustainable economic development.
Speaking to the media on the sidelines of the 2026 Africa Business Forum and Awards, held at the Kempinski Hotel Gold Coast City in Accra on Saturday, October 17, ICEDEG Africa’s Advisory Council Chairman, Nana Kwasi Asuman-Frimpong, Esq., said Africa’s economic transformation requires an enabling environment that supports innovation, protects investments and allows businesses, particularly small and medium-sized enterprises (SMEs), to compete and expand across borders.
The event, organised by Unique Communications and KN Communications Group, brought together business leaders, entrepreneurs and investors to celebrate excellence in business and entrepreneurship.
Support for African Businesses
ICEDEG Africa commended the organisers for recognising outstanding businesses and individuals, noting that such initiatives should encourage governments to strengthen the conditions necessary for businesses to thrive.
The Centre identified access to finance, predictable regulations, property rights protection, transparent institutions and reduced administrative barriers as essential to business growth.
It particularly urged governments to prioritise SMEs, given their contributions to employment creation, local production and economic development.
Fair Competition and Consumer Protection
Mr Asuman-Frimpong stressed that business growth must be accompanied by fair competition and effective consumer protection.
He said businesses should compete through innovation, efficiency, product quality and customer satisfaction rather than practices that disadvantage consumers or unfairly exclude smaller competitors.
He emphasised the need to balance business expansion with the protection of consumers and emerging enterprises, arguing that fair competition and consumer confidence are essential to sustainable investment.
AfCFTA Opportunities
On regional integration, ICEDEG Africa urged businesses to take advantage of opportunities under the African Continental Free Trade Area (AfCFTA) through cross-border partnerships, regional value chains, technology transfer and increased local production.
Mr Asuman-Frimpong said strengthening African enterprises’ participation in regional markets would help countries retain greater economic value from trade.
He congratulated the award recipients and urged them to continue promoting innovation, responsible corporate leadership and sustainable business practices.
He maintained that celebrating business excellence should also inspire stronger institutions, competitive markets and enterprises capable of driving Africa’s economic transformation.
