The Vice President, Dr Mahamudu Bawumia, has highlighted the need for more investments in crucial infrastructure by African governments and businesses to facilitate trade under the African Continental Free Trade Area, (AfCFTA).
Dr Bawumia noted that critical investment in infrastructure will help ensure continued productivity and sustainable economic growth on the continent.
Speaking at the maiden edition of the Africa Prosperity Dialogues dubbed “Kwahu Summit” 2023, Dr Bawumia also called on African governments to implement concrete actions to ensure that Africa achieves the needed industrialization on the continent.
“Like the vision of our forebears, AfCFTA has set the stage for Africa’s industrialisation drive. But it will take concrete, strategic actions by governments and businesses on the continent, the right mix of policies, and a greater sense of purpose for more intra-Africa trade to happen to support economic diversification and the much-needed industrialisation on the continent.”
The African Continental Free Trade Area is a flagship project of the African Union’s Agenda 2063, a blueprint for attaining inclusive and sustainable development across the continent over the next 50 years.
It aims to boost intra-African trade by providing a comprehensive and mutually beneficial trade agreement among the member states, covering trade in goods and services, investment, intellectual property rights and competition policy.