April 17, 2024

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African Leaders Advocate for Strong Public-Private Partnership to Drive African Continental Free Trade Area

President Kagame, along with other African leaders, emphasized the significance of a strong partnership between the public and private sectors in advancing the goals of the African Continental Free Trade Area (AfCFTA). Speaking at the Forum of Friends of the AfCFTA, held under the theme “Driving Action Under the African Continental Free Trade Area,” President Kagame highlighted the need to change the narrative about Africa as a risky continent.

The forum, moderated by WEF President Børge Brende, brought together African leaders such as President Nana Akufo-Addo of Ghana, Prime Minister Ahmed Hachani of Tunisia, Deputy Prime Minister Demeke Mekonnen of Ethiopia, AfCFTA Secretary-General Wamkele Mene, and representatives from the private sector.

The implementation of the AfCFTA agreement is expected to have a significant impact on the African continent, with a projected increase in real incomes by 7%, equivalent to nearly $450 billion. This highlights the potential for economic growth and development that can be achieved through regional trade integration.

President Kagame stressed the importance of consolidating the partnership between the private and public sectors to drive the imperatives of the AfCFTA. By working together, this partnership can help change the perception of Africa as a risky continent and create a more favorable environment for investment and economic opportunities.

The forum provided a platform for African leaders and representatives from the private sector to discuss strategies and initiatives aimed at promoting trade facilitation, removing barriers, and enhancing economic cooperation within the AfCFTA framework. It served as a call to action for all stakeholders to actively contribute to the successful implementation of the continental free trade area.

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