Dubbed as one of the defining projects of Africa since independence, leaders of the 54 countries are determined to use it as a key instrument for development and prosperity across Africa.
On Tuesday 24 May, a new non-profit organisation set up to get Africa’s private sector to own and drive the African Union’s major agenda of a single market will launch its flagship programme here in Accra.
Dubbed as one of the defining projects of Africa since independence, leaders of the 54 countries on the continent that have signed up to the single market project, (The African Prosperity Network), are determined to use it as a key instrument for development and prosperity across Africa.
On 1st January 2021, the African Continental Free Trade Area (AfCFTA) came into being, creating the biggest economic bloc in the world, 1.3 billion people with a combined GDP estimated at US$3.4 trillion.
The African Union (AU) has given itself ten years to get the economic integration project fully operational. This means there is great urgency to get things done.
This will require a lot of institutional arrangements. But, it must also be fully embraced by the business community.
The African Prosperity Network (APN), an Africa-focused organisation, based here in Accra, is partnering the AfCFTA secretariat to get the political and business leaders of Africa, along with thought leaders on Africa, to meet regularly to drive the economic integration agenda of the African Union (AU).
With the AfCFTA secretariat in Accra, Ghana is being positioned as “the commercial centre of Africa”, according to Wamkele Mene, the Secretary-General of AfCFTA.
The launch of the Africa Prosperity Network, which takes place at the Marriott Hotel, Accra, coincides with the meeting of all Africa’s finance ministers this week here in Accra under the auspices of the AfDB.
The APN will be responsible for organising an annual conference in Ghana, where heads of state, business leaders and thought leaders will meet on the single market project. The details of that annual conference will be outdoored at the Marriott hotel on Tuesday.
Those close to the project describes it as “Africa’s own version of Davos, the World Economic Forum, which takes place in a small town, Davos, in Switzerland, bringing together global leaders of all shades.
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