Africa Open for Business: Ghana Takes the Lead in Global Trade Partnerships
The Vice President of Ghana, Mahamudu Bawumia, has emphasized that Africa is ready to create a more integrated, dynamic, and prosperous continent through trade partnerships and investments. Speaking at the opening of the 53rd General Assembly of the World Trade Centres Association (WTCA) in Accra, Bawumia urged African governments and businesses to collaborate to promote the continent’s unique potential to attract foreign investment and create sustainable partnerships that will benefit both the continent and its international partners.
Ghana, the first sub-Saharan African country to host the WTCA General Assembly, has established a strong foundation to leverage its natural resources for global partnerships in the best interests of its people. Over the past six years, President Akufo-Addo has promoted a Ghana and Africa beyond aid agenda aimed at ensuring economic independence in Africa. Bawumia reiterated that Africa must invest in innovative technology to advance its competitiveness on the global market and drive economic growth.
The WTCA launched an initiative called “Pivot to Africa” aimed at increasing investment drive for the continent, recognizing the enormous potential of the African market and the need to leverage it for mutual growth. The organization has recognized that any continent that ignores Africa’s trade potential does so at its peril because the continent is the future of the world’s economy.
Togbe Afede XIV, the Executive Chairman of the World Trade Centre, Accra, said Africa’s three billion population was a great asset and its 20% coverage of the world’s landmass provided fertile ground to feed the world. The mineral wealth and arable land serve as a launching pad for the world’s food security and economic transformation.
In a nutshell, Africa’s economic integration is progressing steadily through initiatives such as the African Continental Free Trade Area (AfCFTA), which has established the Pan African Payments and Settlement System for cross-border transactions. The doors of the continent are open for business partnerships and investments for mutual benefits. The world should add value to Africa’s economic opportunities to ensure growth and prosperity for all. The WTCA is committed to working closely with Africa to advance its cause.