Vice President, Naana Jane Opoku Agyemang has called on African leaders to make infrastructural development a priority in their quest to achieve a single market for the continent.
Speaking at the opening ceremony of the Africa Prosperity Dialogues 2025 in Accra, she said while various research has revealed that the continent has made significant strides in infrastructural development, the continent continues to face problems with infrastructural interconnectedness across the countries coupled with power challenges.
She said the continent for example has one of the most pressing infrastructure gaps, with over 30 countries experiencing frequent power outages.
“If Africa is to realise the dream of a single market, we must prioritize infrastructural development. Without transportation, without energy systems that connect our cities, our countries, our regions, without the movement of goods and services in guaranteed ways, our hopes might remain a challenge”.
The challenges she stated were due to a fragmented approach to policy particularly at a time when most infrastructural development in Africa is funded by the government.
She also mentioned that although women have long been at the forefront of trade on the continent, dominating cross-border businesses, they continue to face significant barriers such as cumbersome regulations and inadequate infrastructure.
Vice-President, Jane Opoku Agyemang also said that removing these impediments is not just a “moral imperative, but an economic necessity that requires the support of all African leaders.
While commending the organisers of Africa Prosperity Dialogues (APD), for bringing African leaders together to find sustainable solutions to tackle the challenges facing the continent, she said dealing with fragmented markets by African leaders would go a long way to significantly harness the continent’s economic potential.
She also added that if a significant part of the potential remains unfulfilled the markets will continuously remain divided.
“Integration is not just a theoretical concept. It is a lifeline to our collective future. By breaking down barriers and creating a single market, we can unlock immense opportunities and create jobs for our youth,” she stated.
Prof. Opoku Agyemang therefore, urged African leaders to forge stronger partnerships with the private sector to help break the gaps and drive growth and transformation.
The three-day event, which started on Thursday, January, 30, and will end on Saturday, February 1, 2025, is under the theme ” Delivering Africa’s Single Market Through Infrastructure: Invest, Connect, Integrate.
The event brought together African leaders, heads of state, stakeholders in academia, businesses, experts from industries on the continents, and several other dignitaries.
Expert panelists also engaged in discussions on various topics including Scaling your business through Strategic technology and exploring venture capital and private equity funding models for infrastructure among others.
By Ebenezer K. Amponsah