Africa’s enormous economic growth potential can be harnessed through robust intra-African exchange, cooperation and a firm resolve to pursue shared goals, Temitope Shonubi, Executive Director, Sahara Group has said.
Speaking yesterday at the United Nations Development Program (UNDP) “Significant Level Dialog” in Accra, themed “Africa’s Money for African Development, a Future Beyond Aid”, Shonubi said Africa needs to look past reliance on outside aid and grasp the pursuit of economic growth and advancement as a “single substance with regular interests, goals and aspirations”.
As per Shonubi: “It is Sahara Group’s firm conviction that African businesses can be the greatest contributors to Africa’s success. Yet, handling some of the toughest global challenges can’t be accomplished by anybody organization or sector alone. We, consequently, need to accomplice, not simply in business, yet in building the better, stronger and all the more economically dynamic Africa that we as a whole desire.
He noticed that Sahara Group’s understanding across the mainland had shown that intra-African exchange can be upgraded through uniform exchange policies, shared infrastructure and innovation, ease of development of persons and goods and transparent administrative structure for various sectors.
He said: “As a main energy aggregate on the landmass, Sahara Group has kept on advocating calls for increased exchanging activities on the mainland, especially in the energy sector.
Sahara Group has at various fora canvassed more coordinated effort and business activities including African entrepreneurs, Oil and gas businesses, traders and money related institutions, among others.
Sahara is one of the first African companies to consistently complete full-cycle unrefined and item transaction using just African resources.
The occasion was led by Ghana’s President, H.E Nana Akufo-Addo who repeated broadly held expectations that the African Continental Free Trade Agreement (AfCFTA) will encourage another influx of economic prosperity whenever executed successfully.
President Akufo-Addo also noticed the requirement for African economies to get autonomous of aid, including that maintaining human rights, the standard of law and majority rule responsibility are key ingredients for sustainable advancement.
AfCFTA commits countries to expel tariffs on goods, progressively change exchange services, and address non-duty barriers. As of the finish of 2018, Intra-African exchange made up just 15 percent of the complete exchanging activities by the landmass.
Successful usage of the understanding is anticipated to make a single African market of over a billion consumers with an absolute GDP of over $3 trillion. This will make Africa the largest organized commerce region on the planet.
UNDP’s Director for Regional Bureau for Africa, Ahunna Eziakonwa, said the ‘discourse’ will be positioned as a continuous stage to inspire a global group of spectators to perceive the opportunities for Africa’s future prosperity.
The stage also seeks to increase pondered Africa’s improvement towards self-sustaining futures, give scholarly and scientific insights to the new Africa Continental Free Trade Resource Center (AfCFTA), as it advances towards African Union’s Agenda 2063 and global goals in Agenda 2030, raise visibility and make energy supporting Africa’s vision for future prosperity and foster new partnerships and make alliances for Africa’s transformation plan.