Vice-President Mahamudu Bawumia has said the Africa Prosperity Dialogues has been organised as a solution-driven initiative to fast-track the implementation of the AfCFTA.
He said this is the best time for African businesses to dialogue on smart ways for the development of the continent.
Dr Bawumia was speaking at the opening of the maiden Africa Prosperity Dialogues at the Safari Valley Resort in Adukrom in the Eastern Region.
“This event has been organised as a solution-driven initiative to fast-track the implementation of the AfCFTA. This is the time for businesses to dialogue on smart ways to enjoy the opportunities from the engrained for the resilience, sustainable, inclusive and prosperous Africa.
“For most parts of the world, the narrative for this beautiful continent has sadly been about poverty, conflict, misgovernment, corruption and underdevelopment.”
The vice-president said, “the time has come for Africa and Africans to define our own narrative. We cannot allow poverty and undevelopment to be the destiny of Africa. A continent so blessed with every natural resource imaginable-oil, minerals gas and sunshine.”
He said the continent has everything that “we need to transform Africa into a global powerhouse of the future”.
Boosting intra-African trade
Bawumia said the AfCFTA is a game-changer and, once fully realised, “We [will] increase intra-African trade by some US$35 billion and reduce external imports by some US$10 billion annually.
“This will mean an opportunity for growth and for our small businesses and the potential to lift more than three million people from poverty.”
He said the AfCFTA has set the stage for Africa’s industrialisation drive but, “It will take concrete strategic action by governments and businesses on the continent the right mix of policies, a greater sense of purpose for a more robust intra-Africa trade to happen to support economic diversification and the much-needed industrialisation of the continent.”
The maiden series of the Africa Prosperity Dialogues launched today (26 January) and will end on Saturday (28 January).
The event, also dubbed the Kwahu Summit, involves captains of industry, entrepreneurs, economists, bankers and other business leaders in Africa taking part in three days of discussion about what needs to be done next to expand trade and wealth creation across the continent.
The Africa Prosperity Dialogues is a strategic platform where movers and shakers in the African economy will elevate the objectives of the African Continental Free Trade Agreement (AfCFTA) from ambition to real action.
The summit will be a focused event where African leaders from diverse areas of national endeavour will gather each year to discuss and share experiences on initiatives required for Africa to achieve the goal of shared prosperity and to review the Africa Agenda for Action.
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