New York, 23 September 2025 – His Majesty King Mswati III has called on African countries to close the gap between ambitious development plans and the continent’s current realities. Speaking through Finance Minister Neal Rijkenburg, the King addressed delegates during the launch of the Africa Strategic Investment Alliance (ASIA), organised by AeTrade Group under the theme “Uniting People, Capital and Prosperity.”
ASIA was created to align public policy with private capital to promote inclusive growth, with a particular focus on women and youth. His Majesty serves as the inaugural Chairperson of the Presidential Advisory Council for the Pan-African diaspora-led organisation, which aims to eradicate extreme poverty in Africa over the next decade.
“Our ambitions as a continent are immense, yet our current reality does not always reflect these goals. Bridging this gap is essential if we are to achieve strategic development and financial inclusion for all Africans,” said the King through Minister Rijkenburg.
The King highlighted Africa’s demographic potential, noting that it is the youngest continent in terms of population yet the birthplace of humanity. By 2030, Africa’s labour force is projected to reach 375 million, with over 20 million young people entering the workforce annually, more than the rest of the world combined. He warned that a mismatch exists between the skills young people acquire and the opportunities available, which could limit economic growth if not addressed.
Eswatini has committed US$5 million as catalytic funding to support ASIA initiatives, including small business development, youth entrepreneurship, and women-led enterprises. His Majesty also pledged to engage other African traditional leaders and Heads of State to make similar contributions to the alliance.
During the launch, pan-African and global leaders attended, including UN Deputy Secretary General Amina Mohammed, AU Commission representatives led by Chief Fortune Charumbita, AfCFTA Secretary General Wamkele Mene, the President of the Pan-African Parliament, the Regional Director of the UNDP Bureau for Africa, Ms Ahunna Eziakonwa, and AeTrade Group CEO Mulualem Syoum. Commissioners, ministers, ambassadors, and leaders from private and philanthropic organisations also participated.
AeTrade Group CEO Mulualem Syoum described ASIA as an open platform for governments, investors, and civil society to accelerate job creation and economic transformation across Africa. He urged immediate action to turn commitments into measurable employment outcomes.
The King stressed the role of digital technologies and the African Continental Free Trade Area (AfCFTA) in driving economic growth. He noted that during the inaugural Presidential Advisory Council meeting in Niamey, Niger, in 2022, AfCFTA and AeTrade signed a memorandum of understanding to ensure a single integrated market across Africa. Strategic partnerships with global corporations such as Microsoft and Mastercard are expected to support financial inclusion and digital platforms for SMEs.
ASIA aims to address the annual US$330 billion SME financing gap in Africa. His Majesty highlighted the importance of pooling fragmented domestic funds and efficiently channeling them through digital platforms such as Sokokuu.Africa, while also mobilising international partners to supplement the financing gap.
Panel discussions at the launch focused on vocational training, digital inclusion, SME financing, and creating formal employment opportunities. Delegates agreed on prioritised actions, including expanding youth entrepreneurship programmes, scaling women-led business financing, building regional investment pipelines, reducing cross-border trade barriers, and ensuring long-term sustainability that leaves no one behind.
UNDP Africa Director Ms Ahunna Eziakonwa praised the initiative, noting the resilience of African women and youth, particularly in the informal economy. AU Commission representatives stressed the need for Africa to lead the agenda while uniting public and private actors to reduce costs, overcome energy challenges, and drive inclusive growth.
The King concluded that unlocking Africa’s economic potential requires bold reforms, strategic partnerships, and a focus on creating 80 to 125 million jobs over the next 15 years, harnessing digital technologies to make SMEs the engine of sustainable growth.
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