Mr. Louis Yaw Afful, Executive Director of ZLECAf
The first edition of the Africa Globalized Investment Forum is scheduled to start from Monday October 25 to Wednesday October 27, 2021 in Accra.
The forum aims to engage international government officials, leaders of private sector NGOs, investors and businesses around the world to invest in the economic sectors of all member states of the African Continental Free Trade Agreement (AfCFTA )
It is scheduled to be held annually in all respective African countries through a collaborative effort between the AfCFTA Policy Network (APN) and the Diaspora Office in the United States, Arab League partners, Asia and Europe.
Elaborating on the forum, AfCFTA Executive Director Mr. Louis Yaw Afful said the forum seeks to support the AfCFTA Secretariat to accelerate the implementation of the Continental Free Trade Agreement (CFTA) by sensitizing all African countries through the organization of the Forum.
He added that it was also about leveraging the AfCFTA investments by organizing investors globally to invest in the sector economy of 55 African countries.
“Create opportunities for youth and women entrepreneurs and micro, small and medium enterprises (MSMEs) across Africa to take a major role in the implementation and to be beneficiaries of the AfCFTA. It is also about exposing the tourism potential and the role of tourism in the movement of people within the framework of the AfCFTA ”, added Mr. Afful.
Mr. Afful further stated that the expected outcomes of the forum are to promote private investment in CFTA participating countries and, in particular, to encourage public-private partnerships.
He believed that the week-long summit will create catalysts for the startup ecosystem and potential value chains.
“It will provide a great networking platform to connect with other investors and industry thought leaders. It will be an exciting opportunity for companies and international investors to learn about the latest investment opportunities, trends and how to invest in CFTA countries, ”he said.
The forum will offer in-depth discussions by experts and thought leaders in key sectors such as arts and culture, telecommunications, digital and media, banking, finance and insurance, innovation and technology, tourism, mining, automotive, manufacturing, agribusiness, pharmaceuticals and health, etc.
In addition, the breakout sessions will provide a platform to discuss relevant topics related to promoting and harnessing all the benefits of AfCFTA, including the role of youth and women, post-COVID. -19 and beyond, security and ZLECAf, investments and financing for Industrialization, Entrepreneurship, Innovation and Development of SMEs.
Guest speakers at the forum include the Vice President of the Republic of Ghana, Dr. Alhaji Mahamudu Bawumia, HE Wamkele Mene, Secretary General of AfCFTA; Minister of Commerce, Alan Kyeremateng; Hon. Ken Ofori-Atta, Minister of Finance, Ghana.
The AfCFTA political network was established in 2019 as the main and largest international non-governmental organization (NGO) focused primarily as a think tank on the implementation of the African Continental Free Trade Area.
The game-changing African Continental Free Trade Agreement in Africa began free trade on January 1, 2021.
To accelerate the implementation and realization of the benefits arising from this agreement, intra-African trade must be stimulated by the production and promotion of quality African products and services.
Currently, intra-African exports represent around 17% of total continental exports.
Increasing this share will go a long way in increasing added value, increasing job creation, improving incomes and livelihoods, and ultimately lifting millions of people out of poverty.
A World Bank study indicates that if Africans effectively implement this agreement, it will be possible by 2035 to lift 100 million Africans out of poverty, and an additional 30 million Africans will be lifted out of extreme poverty.
AfCFTA is further expected to improve competitiveness at the industry and enterprise level by exploiting opportunities for large-scale production, access to continental markets and better reallocation of resources, implementation and, therefore, realizing all the benefits of AfCFTA.