Stakeholders seek institutional, legal framework on AfCFTA opportunities
By Felicia Imohimi
African Business Forum (ABR) and other stakeholders have advocated institutional, legal framework and infrastructure development to mitigate barriers to optimising the opportunities in African Continental Free Trade Agreement (AfCFTA).
The stakeholders made the call at ABR Forum on “Operationalising the African Continental Free Trade Agreement (AfFTA)” and 30th Anniversary Commemorative Book Launch of the organisation on in Abuja.
The forum had as its theme: “Enhancing Domestic Capacity for Optimising the Opportunities of AfCFTA for Africa’s Prosperity and Mitigating the External Threats to its implementation,”.
Mr Samuel Aworet, ABR President, identified the forum as a platform for collaboration.
He said the programme was meant to chart strategies for optimising the opportunities in AfCFTA for Africa’s prosperity and mitigation of external threats to its implementation.
Aworet, represented by ABR Vice-President, Mr Goodie Ibru, listed some of the strategies to include strengthening institutions and regulatory frameworks, building resilient supply chains and industries and improving access to finance and technology.
Others, according to him, are improve access to market, especially for Small and Medium Enterprises (SMEs), and ensuring inclusive participation in AfCFTA.
Aworet, who identified the theme as timely, emphasised that African must build from within to thrive amid global uncertainties.
He said AfCFTA offered a holistic opportunity to drive intra-African trade, build local industries and position ‘our economies for global competitiveness”.
The president said that AfCFTA success depend on coordinated action from all actors, including governments, the private sector, financiers and development partners.
Aworet commended the Federal Government for championing platforms that unite African stakeholders in pursuit of practical solutions to the continent’s challenges.
He also commended Afrexibank for its continued leadership role in trade, development finance and private sector across the continent.
He reaffirmed the ABR’s commitment to being active partners in the process.
“We will continue to advocate enabling policies, promote investment and drive private sector participation in building a prosperous resilient Africa.
“Africa’s challenges are real, so is its promise. With unity, bold action and a focus on building domestic capacity, we can turn opportunity into lasting progress,” he said.
Dr Bamanga Tukur, Grand Patron of ABR and Founding Chairman, New Partnership for African Development (NEPAD) Business Group said the theme reflected a profound commitment to bolstering Africa’s economic potential.
He said it also reflected embracing regional integration and charting a transformative path towards sustainable prosperity.
Bashorun Randole, Chief Executive Officer, J.K Randole Group of Companies, said the discussions at the forum and initiatives were testimony to Africa’s resolve, unity and shared vision for a thriving continent.
Tukur affirmed that he was encouraged by the shared commitment to unlocking the transformative power of AfCFTA.
“Building strong domestic capacities lies at the heart of this mission—capacities in innovation, infrastructure, governance and human capital that will ensure Africa’s prosperity is not merely a dream but a living reality.
“It is through resilience, collaboration, and shared vision that we can turn challenges into stepping stones and
external pressures into opportunities for growth.
“Let us seize this moment to reaffirm our shared commitment to creating a resilient economic framework that uplifts our communities, empowers our youth, and fosters equitable progress.
“Together, we can build a future that reflects the boundless possibilities of African ingenuity and
solidarity,” he said.
Speaking on the ABR anniversary he said 30 years of dedication to Africa’s economic resilience and growth was a legacy worth honouring.
“We recognise the invaluable contributions of this institution in championing visionary leadership, fostering collaboration and advocating inclusive development across the continent.
“As ABR embarks on its next chapter, let us renew our collective commitment to fostering partnerships, investing in the continent’s future and building a brighter tomorrow for all.
“Together, we can ensure that the next 30 years are marked by even greater achievements and deeper collaborations,” he said. (NAN)
Edited by Uche Anunne
Published By
- Agriculture and Environment Desk Controller/Website Content Manager.
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