Trading activities under the African Continental Free Trade Area (AfCFTA) have taken off.
On January 1, 2021 President Nana Addo Dankwa Akufo-Addo joined by other African leaders including Cyril Ramaphosa of South Africa; Mahamodu Issoufou of Niger; Faki Mahamat, Chairperson of the African Union Commission; Wamkele Keabetswe Mene, Secretary General of AfCFTA and African Trade Ministers including Ghana’s Alan Kyerematen, and Representatives of Strategic Partners in a Webinar ceremony ushered in the start of trading under the AfCFTA.
During the webinar, President Akufo-Addo seized the opportunity to reiterate the call for those member States of the AU that have not yet signed and ratified the Agreement to do so in order to increase the size of the continental market.
President Akufo-Addo indicated that the success of the African Continental Free Trade Agreement will be congruent with government’s vision of a Ghana Beyond Aid.
The President noted that his vision of a ‘Ghana Beyond Aid’ will be better realized if the country takes advantage of the trade and investment opportunities AfCFTA presents.
“For Ghana, the success of AfCFTA ties in perfectly with the vision of moving beyond aid, a self-reliant Ghana that is rid of the mindset and dependence on aid and is determined to make intelligent disciplined use of her resources, the basis for her growth and prosperity. But this vision can be better realized if we can take advantage of the investment and trade opportunities that AfCFTA presents,” he said.
Adding that, the government of Ghana is fully committed to the implementation of the AfCFTA which is evidenced by the building of the headquarters of the AfCFTA in Accra.
On the benefits of the trade agreement between the 55 African member states, President Akufo-Addo noted the AfCFTA aside offering the continent the huge opportunity of exploring its abundant wealth and resources to the benefit of Africans, will also offer protection to African countries from other trading blocs.
“AfCFTA provides us with the vehicle to trade among ourselves in a more modern and sophisticated manner. It will offer a huge opportunity to explore the abundant wealth and resources of our continent to the benefit of our people and will give us protection in how we deal with other trading blocs,” he said.
“With collective design for shared prosperity, we believe the AfCFTA will succeed and provide a new impetus and dynamism for the rapid growth of African economies and deepen the process of integration in Africa. We owe it to generations unborn to ensure that the biggest trading bloc on the globe will be rewarded to all in Africa,” he added.
By Melvin Tarlue