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AFCFTA key to growth of African economies, VP Mohadi


Story by Sifiso Sibanda, Assistant News Editor

VICE President Cde Kembo Mohadi is convinced that the Africa Continental Free Trade Area (AFCFTA) is the best foot forward for the growth of African economies through intra-continental trade.

The huge African market of over one billion people can sustain African economies, with the continent being reminded of the need to harness the potential market through intra- African trade.

Speaking at the Africa Connect Symposium at the ZITF this Thursday, Vice President Mohadi said African diplomats and the business community should embrace intra-Africa trade to nourish their respective economies.

“AFCFTA is not simply an economic agreement, it is a declaration of unity and a catalyst for continental growth. Uniting over 54 African nations and also creating the world’s largest free trade area, intra – Africa trade is projected to surge by about 80 percent, reaching a staggering  three billion by 2030,” he said.

He said Africa, with a combined Gross Domestic Product exceeding US$2,5 trillion, has the potential to command global trade through embracing innovation.

“By embracing innovation, SADC economies seek to transcend development constraints and transition to knowledge driven innovation and business sophisticated growth trajectory.  This vision aligns with the aspirations of the African Union agenda 2063 of empowering entrepreneurs and fostering an environment conducive to unleashing the full potential of African innovation throughput the region,” he said.

The Africa Connect Symposium was running under the theme: “Harnessing Innovation for Africa’s Prosperity” and was attended by diplomats and regional business leaders.