Economics and Business

Africa World Trade Network unveiled as moves to boost economic growth

The Ministry of Trade and Industry in collaboration with stakeholders in the trading and business space have launched the Africa World Trade Network (AWTN) in Accra under the theme, “Showcasing Africa’s Industrialisation Capacities.”

The gesture forms part of the drive to leverage trading activities among African countries and be at competitive edge with other countries around the world for economic growth and development.

Dignitaries at the launch

AWTN is geared towards the creation of synergies and linkages among African countries to trade among each other and roll out business initiatives to conform with international best practices and be abreast with emerging economies.

In attendance were the Secretary General of AfCFTA, His Excellency Wamkele Mene, Deputy Ministers of Trade and Industry, Mr. Micahael Okyere Baafi, Rwandan High Commission to Ghana, H. E. Asia Kirabo Kacyira, Group Chairman of Tropical cable and Conductor Limited, Dr. Oteng Gyasi, AWTN Board Chair, Otwasuom Osae Nyampong VI, Chief Executive Officer (CEO) of Zenith Bank Bank Ghana Limtied, Henry Chinedu Onwuzurigbo, Diplomats, from Europe, Africa and Asia as well as other Captains of industries.

In an address, the Deputy Minister of Trade and Industry, Mr. Michael Okyere Baafi who represented the Sector Minister, Mr. Alan Kyerematen commended AWTN for the laudable initiative and explained that Africa is endowed with rich, natural and human resources and is prudent for the countries to trade and build trading blocks and cooperation to enhance trade investments, goods and services across the continent.

“With the inception of the African Continental Free Trade Agreement (AfCFTA), AWTN will create additional platform for stakeholders and countries to effectively and efficiently address trade challenges and come up with tailor made business and trade solutions in the interest of African entrepreneurs”, he said.

In his remarks, the Secretary General of AfCFTA, H.E Wamkele Mene urged African leaders to allow free movement of people, goods and services across the African continent, adding further that barriers among African countries be lifted just like European countries to scale up trade on the continent.

He expressed worry over this current times that Africans require visas to travel to fellow African countries and however described these restrictions and inconveniences in the business and travel space as setbacks for the socio-economic development and growth of the African continent.

“When such barriers are lifted, trading activities and investments will be adequately enhanced and will also boost trade in an enabling environment of the African continent.

Source: Ben LARYEA/

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