2024 Africa Prosperity Dialogues to focus on value addition

Leaders across the African continent have been urged to invest in critical sectors of the economy, increase value addition, and prioritize intra-continental trade to accelerate economic development.

They have also been urged to prioritise trade on the continent to unlock Africa’s global trade and investment potential.

This call was made at a Press Briefing held in Accra, ahead of the 2024 edition of the Africa Prosperity Dialogues (APDs).

The aim of the APDs is to pool African and Diasporan leaders to propose actionable and bankable plans for implementation across the continent.

The Executive Chairman of the Africa Prosperity Network (APN), Gabby Asare Otchere-Darko, said “the economic integration of the continent is a   non-negotiable tool to ensure that there is shared prosperity on the continent.”

He noted that the idea behind the establishment of the APN is to change the poverty-stricken narrative about the continent.

To ensure this he stressed the importance of the successful implementation of the African Continental Free Trade Area (AfCFTA), especially within its first 10 years of existence.

“If we can’t get it right now, we will never get it right. It is the biggest project since we formed the Organisation of African Unity (OAU).”

He said the summit was aimed at changing the narrative and focusing on the prosperity of the continent.

He stated that the idea of having a single market under AfCFTA was about the prosperity of the African continent, indicating that it was important for the private sector to drive its implementation, in partnership with governments.

On the success of the Dialogues, he said the AU had so far recognised its importance in making business and political leaders dialogue in unity for the benefit of the continent, making it adopt the pact from last year’s summit.

The Secretary-General of the AfCFTA, Wamkele Mene, in a message delivered on his behalf by Mr Silver Ojakol, Chief of Staff at the AfCFTA Secretariat, stated that the Secretariat has a target of 2035 to lift 100 million people from poverty, by working in concert with the African Union and it’s organs.

He indicated that the APN provides a forum for African countries to deliberate, strategise and collaborate to leverage on Africa’s abundant resources, youthful population and expanding market to ensure delivery on the promise of the AfCFTA.

He indicated that after decades of Africa’s resources powering the global economy,  “it is time for Africa’s resources to drive job creation and prosperity on the continent.”

He said AfCFTA would like to see improved connection between business and political leaders that would engender actions to increase productivity, value addition, and increase intra-continental trade.

He stated that while the adoption of the outcome of last year’s dialogues was a step in the right direction, the Secretariat would look forward to how the compact would translate into actionable decisions.

Mr Njack Kane, Chief Executive Officer (CEO), Ghana Prosperity Network, said it aimed at ensuring deliverables to make Africa’s free trade a reality.

That, he said led to crafting the summit on the theme: “Delivering prosperity in Africa: Produce, add value trade”, with the outcome at the end being presented to the African Union (AU) for consideration.

He urged the media to continue to play their critical role in disseminating information about the prospects of AfCFTA and propagate narratives for its successful implementation.

Value addition to natural resources for increased intra-continental trade will dominate the second edition of the Africa Prosperity Dialogues.

The three-day summit, to be held in Aburi in the Eastern Region, would see business and political leaders, academia and other development partners, come out with practical actions to enhance productivity.

It will be held from January 25 to 27 and attended by some 15 Heads of States and Governments, over 80 sector Ministers from six economic communities, over 100 top industries and financiers, and some 800 decision makers.

The Africa Prosperity Dialogues is being organised by the Africa Prosperity Network – a non-for-profit platform for promoting an Africa beyond aid, and AfCFTA.

Thematic areas for the 2024 Africa Prosperity Dialogues include agriculture and food sovereignty, natural resources and value addition, manufacturing, infrastructure and ICT, finance and investment, and transport and logistics.