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Speakers at an African investment summit have called for urgent reforms to improve the ease of doing business as African countries position themselves to attract investment under the African Continental Free Trade Area (AfCFTA).
Speakers at an African investment summit have called for urgent reforms to improve the ease of doing business as African countries position themselves to attract investment under the African Continental Free Trade Area (AfCFTA).
That, they said, was because Africa’s competitiveness would depend on building a transparent, predictable and business-friendly environment.
They stressed that while Africa offered a combined 1.4 billion–person market and abundant natural resources, progress continued to be slowed by regulatory bottlenecks, high operational costs, infrastructure deficits and uneven implementation of trade rules.
Participants, therefore, urged governments to streamline business registration, harmonise standards, enhance cross-border cooperation and expand digital systems that reduced delays and improved transparency.
The event, dubbed; “Africa Globalised Investment Summit”, was held in Accra last Wednesday.
It was on the theme; “Invest in AfCFTA, Invest in Ghana, Invest in Africa” and brought together entrepreneurs, investors and business leaders, among others.
Speakers also mentioned the need to strengthen local capacity, improve financial literacy among SMEs and promote partnerships that ensure technology transfer and long-term industrial development.
They emphasised that reforms in taxation, skills development and logistics would significantly enhance the competitiveness of African businesses under AfCFTA.
The AfCFTA Secretary-General, Wamkele Mene, underscored the continent’s growing competitiveness, emphasising that Africa was attracting more capital into manufacturing, logistics and green industrialisation.
He said the AfCFTA Protocol on Investment provided the harmonised regulatory framework needed to give investors certainty, reduce barriers and align countries behind shared objectives.
He mentioned emerging high-potential sectors, including agriculture, agro-processing, automotive, pharmaceuticals and logistics, stressing the importance of scale, technology transfer and MSME integration.
He urged governments and partners to pursue bold, coordinated engagement to drive sustainable industrial development and ensure that Africa increasingly traded with itself.
“As we look ahead, the priority is clear — to accelerate industrial development on our continent, deepen economic integration and ensure that Africa trades with herself.
The secretariat stands ready to work with you, investors and the private sector to ensure that we see the results of the Protocol on Investment,” he said.
The Group CEO of APN Organisations, Louis Yaw Afful, outlined his organisation’s role in supporting NGOs, CSOs, exporters, SMEs and youth-led ventures since 2017, emphasising the private sector’s central role in Ghana’s economic growth.
The Executive Director of Africa Globalised Investment Summit, Ama Boadi, said the summit aimed to open doors for investment, partnership and continental economic collaboration at a pivotal moment for Africa.
She said a digital platform would be launched to connect investors post-summit and update them on emerging AfCFTA-related opportunities.
