The caretaker Minister of Trade and Industries, Samuel Abu Jinapor has urged the private sector to continue to work with governments across Africa to ensure the full implementation of the African Continental Free Trade Area (AfCFTA).
Speaking at the Africa Prosperity Dialogues, Jinapor said, “… I urge you [private sector] to own the AfCFTA, and continue to work with governments to ensure its full implementation; for not only will the private sector be the driving force of AfCFTA, but it will also be the primary beneficiary of the single market when we achieve the desired levels of trade between ourselves as a people.”
He said the advancement of intra-continental trade would mean private businesses can expand their markets, and venture into new territories which were previously inaccessible to them.
“Africa can, and will unleash prosperity for its peoples,” he added.
Jinapor said for the continent to progress “ …[we must] promote a free society, anchored on democratic principles and the rule of law, including an independent judiciary, to adjudicate disputes between the state and private citizens as well as among citizens; for without an independent judiciary, investors will have no confidence to invest in our countries.”
“Secondly, … we must promote the private sector as the engine of growth. The development of Japan and the Asian Tigers is enough testimony of the centrality of the private sector to unlock prosperity.”
“Thirdly, we need well-educated, competent and capable citizens. Europe and America’s technological revolution is attributed, largely, to skilled and educated workforce. We must, therefore, invest in the education of our citizens; and
“Finally, and closely linked to education, is the promotion of a high sense of consciousness of our youth. We must train our young ones, to be actively involved in every aspect of our respective national lives.”
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