By Helen Oji
President of Dangote Group, Aliko Dangote, other prominent leaders, including Heads of State, ministers and chief executive officers, have canvassed improved investment in Africa to deepen intra-trade and reduce over-dependence on global market.
Nigerian businessman Aliko Dangote (Photo by Adam Abu-bashal / ANADOLU AGENCY / Anadolu Agency via AFP)
Speaking yesterday on the sidelines of Afreximbank’s 30th-anniversary meeting in Accra, Ghana, Dangote submitted that for the continent to boost its share of global trade, rated relatively low at less than five per cent, there is need for leaders to accelerate volume of trade within and achieve coordinated economy in terms of trade and investment.
He regretted that the “increasing percentage of trade consummated outside the shores of Africa has continued to impede the continent’s trade growth.”
According to him, leaders must collaborate to industrialise the continent and actualise the African Continental Free Trade Area (AfCFTA) pact.
He called for elimination of obstacles to free movement.
Dangote also suggested that African leaders should push for adoption of ‘visa on arrival’ policy in their respective countries.
This, he noted, would stimulate intra regional trade and attract more investments for the local markets.
“We must develop the political will to remove entry barriers. If you have Canadian visa and visa from the European Union, why would it be difficult to get visa from African countries? he queried.
Also speaking, Ghana’s Minister of Finance, Ken Ofori-Atta, stated that Africa must create diversified, integrated and resilient economies to reposition it for maximasation of AfCFTA.
He pointed out that Afreximbank could be leveraged to achieve the goal, owing to its antecedents of delivering strategic and impactful trade.
Ofori-Atta equally advocated liberalisation of economies to increase trade and advance the continent.
Source: The Guardian