Akufo-Addo urges intra-African trade expansion for continent's development

Ghanaian

President Nana Addo Dankwa Akufo-Addo has emphasized the importance of deepening intra-African trade to drive the continent's development.

Speaking at the Ghana-Kenya business forum in Accra, he urged African businesses to capitalize on opportunities presented by the African Continental Free Trade Area (AfCFTA) to foster growth and development.

The forum, themed "Driving Investment and intra-Africa Trade:

Read full articleThe Ghana-Kenya experience," aimed to strengthen economic ties between Ghana and Kenya.

It was attended by the President of Kenya, Dr. William Ruto, who is on a three-day working visit, along with a delegation of Kenyan diplomats and civil servants.

President Akufo-Addo highlighted the disparity between the high level of intra-European trade and the relatively low level of intra-African trade. He stressed that increasing trade among African nations would lead to greater prosperity for the continent, emphasizing the role of the business community in driving growth and development.

Addressing the importance of education, Akufo-Addo emphasized the need to focus on science, technology, engineering, and mathematics (STEM) education to equip African youth with the skills required for the 21st century.

He also underscored the importance of infrastructure development and financial support for young entrepreneurs, urging private institutions to promote entrepreneurship by fostering innovation.

President William Ruto echoed Akufo-Addo's sentiments, urging African businesses to invest in each other rather than seeking external investment.

He emphasized the interconnectedness of prosperity, stating that a country cannot be prosperous while its neighbor suffers. Ruto pledged to assist African businesses in expanding beyond national borders and into the broader African market, emphasizing the potential for entrepreneurial and continental growth through intra-African trade.