The Caretaker Minister of Trade and Industry, Samuel Abu Jinapor, has called on the private sector in Ghana and Africa to own the African Continental Free Trade Area (AfCFTA) agenda.
That, he indicated, will boost intra-African trade and Africa’s prosperity within the context of the African Union’s Agenda 2063, and aid governments in achieving its full implementation.
Mr Jinapor made the call during the closing ceremony of the “Kwahu Summit”. The theme for the Summit was “AfCFTA: From Ambition to Action, Delivering Prosperity Through Continental Trade”. It was organised by The African Prosperity Network (APN) in collaboration with the Presidency and the AfCFTA Secretariat.
He explained that the private sector will not only be the driving force of AfCFTA, but will also be the primary beneficiary of the single market when Africa achieves the desired levels of trade among Africans as a people.
The Minister further indicated that 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.
Private sector target
Mr Abu Jinapor emphasised the need to drill down further to address the needs of Micro, Small, and Medium-Sized Enterprises (MSMSEs) in Afrucan countries.
That, he noted, is crucial because MSMSEs contribute more than half of the continent’s Gross Domestic Product (GDP).
“Indeed, the International Finance Corporation (IFC) estimates that Micro, Small, and Medium-Sized Enterprises (MSMEs) account for some 90 percent of all businesses in Africa, and provide for some 80 percent of jobs across the continent,” he pointed out.
Mr Jinapor said the quality of presentations, the constructive exchanges, and active participation over the past two days were clear testimonies of their collective desire to deliver prosperity through AfCFTA.
He added that the discussions over the last two days had shown that through public-private and multi-sectorial engagements, Africa can unblock the bottlenecks that hamper the full realisation of the single market agenda.
Clarion call
He therefore called on Ministers, policymakers, government representatives, and representatives of regional economic communities to work with the private sector to institute the requisite institutional and logistical frameworks for the private sector to thrive.
He said in view of the importance Ghana places on AfCFTA, the Ministry had undertaken a number of initiatives in collaboration with the AfCFTA Secretariat.
He cited the establishment of the National AfCFTA Coordination Office, the development and implementation of a comprehensive National Policy and Action Plan for AfCFTA, and the implementation of an AfCFTA Facilitation Programme.
These initiatives, he indicated, are aimed at promoting local companies to produce and export to the AfCFTA market, and enhancing the AfCFTA agenda.
The Minister lauded the efforts of the African Prosperity Network (APN), led by its Executive Director, Dr. Eugene Owusu, and all other partners, particularly the Secretariat of the African Continental Free Trade Area (AfCFTA), led by its Secretary-General, Wamkele Mene, for facilitating the holding of such a high-level business and policy dialogue on the AfCFTA.
