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KALONDE NYATI, Lusaka
AFRICA is a continent that has the ability to trade effectively with itself, given the size of the population and the abundant raw materials that can be valued and sourced locally. . .
For a long time, many jurisdictions have cited various stakeholders to talk about the need to increase intra-African trade in order to transform the continent. However, these discussions have remained "in the conferences" to the frustration of many and this lack of implementation of ideas has led the region to remain in the doldrums.
Realize that talking without implementation is meaningless and a barrier for the continent. As growth targets, Africa will soon launch the African Continental Free Trade Area (AfCFTA), which will result in the creation of a signal market and ensure the free movement of goods and services.
It will also be a catalyst that will transform the continent During the first decade of its implementation, intra-African industrialization is expected to increase by 50% or more.
Trade Commissioner of the African Union (AU) Albert Muchanga says the agreement will speed up the integration of African countries. markets, encouraging regional value chains, promoting a dynamic comparative advantage in Africa for certain types of goods and stimulating employment.
President Muhammadu Buhari, who believes that no country can survive on its own, believes that AfCFTA will be a catalyst that will unify the continent through trade.
"Trade is important and so are the terms of trade, so it is necessary to ensure that national, regional and international interests are balanced," Buhari said.
Although AfCFTA may be an important step in reviving intra-African trade and intra-African investment, According to statistics, Africa has a financing gap of 130 to 170 infrastructure billion dollars a year
Anil Dua, board member of the African Export and Import Bank (Afreximbank). For intra-African trade to work, effective road, rail and sea transport systems are essential as they facilitate the flow of goods and services.
"It is not logical for a manufacturer to produce good products in Zambia on the mainland, when they can not be transported to neighboring Angola because of the lack of infrastructure. Africa must be connected by roads and railways, if it wants to trade with itself, "he said.
But how can Africa fill funding and infrastructure gaps? Does the continent have the capacity to finance its infrastructure and its investment needs? What steps have been taken to accelerate regional integration?
In response, the governor of the Bank of Zambia, Denny Kalyalya, says that funding is relatively sufficient on the continent, but that the private sector must also offer bankable projects. like Afreximbank and the African Development Bank, as well as pension funds, the impetus to release more funds.
"Finances can be found but the question is, if we have bankable projects.A number of private sector mobilization is needed because we do not seem to be doing well in this area – everything continues to fall on the towers of the government, which is already limited
"Public-private partnerships are also essential in the efficient enterprise Clearly, regional development institutions have the capacity to collectively finance projects related to infrastructure and trade because Afreximbank, for example, has provided funding of US $ 50 billion and more than US $ 65. billion syndications and warranty activities over the last 25 years.
In addition, the president of Afreximbank, Benedict Oramah, will note that the bank will distribute 25 billion US dollars to support intra-African trade from 2017 to 2025. Annual General Meeting held in the administrative capital of Nigeria, Abuja.
To date, about US $ 8 billion in total commitment has been The private sector has also played a central role and is aware that regional integration can be fully realized through partnerships and such a partnership is that of Liquid Telecom, an affiliate of Econet Wireless. Global with Telecom Egypt, which will result in the completion of the terrestrial fiber network extending across the continent.
Liquid Telecom, which belongs to Zimbabwean business mogul Strive Masiyiwa, is building a fiber network across southern Africa covering Botswana, Democratic Republic of Congo, Lesotho, Africa South, Zambia and Zimbabwe. It is also present in Rwanda, Kenya and Uganda.
The company will connect its network from Sudan to Telecom Egypt's network via a new cross-border interconnection – bringing together a 60,000-kilometer network that extends from Cape Town, across all the countries of southern Africa , central and eastern, and has now reached the border between Sudan and Egypt.
"Completing our vision of building a unique network on earth, from Cape Town to Cairo, is a historic moment for the company Mr. Masiyiwa said at the signing ceremony of the memorandum of 39, agreement between the two companies recently.
The network represents not only a remarkable engineering achievement that has overcome some of the most challenging distances and land on the continent, but it supports the rise of digital economies of Africa and the aspirations of regional commercial integration.
With such initiatives, it is envisaged that Africa c a director and a British mining politician more than late 19th century, the dream from Cecil John Rhodes to integrate the mainland across a railway line that extends from Cape Town to Cairo.
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