First AfCFTA-Angola Business Forum held in Accra

President João Manuel Gonçalves Lourenço and Wamkele Mene (right)

The first African Continental Free Trade Area (AfCFTA) – Angola Business Investment Forum, was organized in Accra to develop bilateral businesses.

The event is part of the activities marking the three-day official visit of Angolan President João Manuel Gonçalves Lourenço to Ghana.

The objective of the Forum was to further expand bilateral trade relations by promoting bilateral investments and mutually complementary partnerships in the relations between the two countries.

The forum was to promote networking of investment opportunities to boost trade and discuss concrete solutions to attract investment, improve added value and increase exports between Angola and Ghana.

Mr. Wamkele Mene, Secretary General of the AfCFTA Secretariat, said the AfCFTA was intended to effectively harmonize trade in goods and services in addition to improving the business environment by reducing tariff and non-tariff barriers on the market. continent.

He noted that this decision marks a new era of trade and investment for Africa and offers a wide range of opportunities for companies from various sectors in member states.

“I am convinced that this new era of continental integration presents itself for Angolan and Ghanaian companies in multiple sectors, including agriculture, fisheries and aquaculture, oil and petroleum activities, environment, science and technology and tourism, ”he said.

“With harmonized trade regulations and a better flow of goods and services across the continent, the case of African production for Africa is now a reality, where trade operators in member states can play an important role.”

Mr Mene said that with the operationalization of AfCFTA, African markets present significant opportunities both to develop the existing market, but more importantly, to establish a base on the continent with access to other markets. at local, regional and global levels.

“Indeed, ACFTA, if properly domesticated by countries and implemented as planned, could help Africa achieve the future we want:“ an integrated, prosperous and peaceful Africa ”.

He said that consolidating Africa into a single trade zone offers great opportunities for entrepreneurs, businesses and consumers across the continent, unleashing trade and manufacturing potentials, boosting industrialization in Africa.

He said the introduction of a simplified continental trade regime should offer greater protection to small and informal businesses and support their participation in new export opportunities created by AfCFTA.

“Today, the case for investing in Africa is stronger than ever. Africa will remain a competitive investment destination for decades to come due to improving its relative risk profiles, its demography and its continental integration, ”he said.

“My message today is very simple: Africa is open for business. The continent’s business potential is enormous in various sectors including agriculture, energy, infrastructure, natural resources, information and communications, providing opportunities for entrepreneurs.

He urged the business community to view the continent’s unmet needs as opportunities for entrepreneurship; saying, “of course there are challenges, but I urge you to see the challenges as a stimulus for innovation”.

Mr. Alan Kyerematen, Minister of Trade and Industry, said the AfCFTA provides a unique platform to guide Africa’s economic recovery effort after COVID-19.

He reiterated that under AfCFTA, Ghana and Angola had much to gain from working together in areas such as agriculture, fisheries, livestock, industry, oil and gas, the petrochemical industry, the added value to their mineral resources, the development of energy resources, in particular renewable energies and the FinTech industry.