Mahama Advocates Strategic Infrastructure Investment to Unlock AfCFTA’s Full Potential
President John Dramani Mahama is advocating massive investment in strategic infrastructure across the African continent, particularly transport networks and digital connectivity, to fully unlock the potential of the African Continental Free Trade Area (AfCFTA) Agreement.
He made these remarks during a courtesy call by Mr. Wamkele Mene, Secretary General of the AfCFTA Secretariat.
Highlighting current challenges, President Mahama said inadequate road and rail networks across sub-regions have significantly hampered the effectiveness of existing regional trade agreements.
He stressed that the vision of the African Union’s New Partnership for Africa’s Development (AU-NEPAD) calls for proactive measures to seamlessly integrate and open up economies.
Citing the high volume of trade along the Abidjan-Lagos corridor, the longest route along the West African coastal belt, President Mahama articulated his vision for enhanced regional integration.
“If we invest in crucial corridors like the Abidjan-Lagos route and extend it all the way to Dakar, we will create a seamless channel for the exchange of goods, significantly boosting intra-African trade,” he stated.
The President also highlighted the increasing trade volumes between Ghana and its Sahelian neighbours, such as Burkina Faso and Mali, noting the immense potential for transit trade facilitated by improved connectivity.
President Mahama told Mr. Mene, “We are proud to be the hosts of the AfCFTA Secretariat, and our government remains fully committed to facilitating your crucial work and ensuring its success.”
On his part, Mr. Wamkele Mene began by congratulating President Mahama on his recent re-election victory and commended Ghanaians for the peaceful transition of power.
Providing an update on the AfCFTA’s progress since its establishment on May 30, 2019, Mr. Mene reported that forty-nine (49) out of fifty-five (55) African Union member states have now ratified the agreement, demonstrating strong continental commitment.
He added that twenty-four (24) countries are actively trading under the AfCFTA framework, with Ghana notably serving as one of the pilot countries since trading commenced two years ago.
Mr. Mene also noted that countries, including Benin, Libya, Sudan, South Sudan, Somalia, and Eritrea, are yet to ratify the agreement.
