EQUITY GROUP CEO CALLS FOR RESET OF GLOBAL ECONOMIC AND SOCIAL ORDER

The Covid- 19 pandemic exposed the current economic and social order which was set in 1945 at the end of the Second World War. In his keynote speech during the Commonwealth Heads of States and Governments Meeting (CHOGM)  business forum opening in Kigali, Rwanda,  Equity Group CEO and Managing Director, Dr James Mwangi said the current order is unsustainable and did not inspire trust between businesses and their host communities.

Hosted as a partnership between the Government of Rwanda and Commonwealth Enterprise and Investment Council (CWEIC) this year’s forum will address the CHOGM theme : ‘Delivering a Common Future: Connecting, Innovating, transforming’, with a focus on ‘A Global Reset’, dealing with the impact of the Covid-19  pandemic and the Commonwealth’s role in rebuilding and reinvigorating the global economy.

Global reset       

Dr Mwangi added that since the onset of the Covid-19 pandemic, globalization, competitiveness and economies of scale ( the theories upon which the world was being built)  have been put to question, because at the end of the day, it was all about availability.

He further said that Covid-19 pandemic has brought the world back to a moment for a global reset that puts in place a new vision and inclusive leadership that guarantees a future of shared prosperity, equal opportunities and equality in society.

At least forty  heads of state and government   from Africa, Europe, Asia, the Americas, the Caribbean and the Pacific will convene to discuss this year’s theme: “Delivering a Common Future: Connecting, Innovating, Transforming.’

Downturn

The economic shock of Covid-19 in 2020 pushed the global economy into a sharp downturn and exposed systemic fragilities. The Commonwealth is uniquely positioned as a worldwide alliance with inherent benefits including economic, political and cultural links and can lead the way in demonstrating what a truly global recovery can look like.

This session will discuss challenges including:  downturns in employment, disruptions to healthcare service, school closures, trade and supply chain disruptions. It will compare recovery strategies and experiences and contribute to a unified approach to recovery.

This is the first and largest in-person gathering for governments and business across the Commonwealth since the onset of the Covid-19 pandemic. The CBF 2022 experience has been designed to provide different ways to create meaningful connections, exchange knowledge, contribute to impactful dialogue and consume information.