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Business News of Thursday, 5 December 2024

    

Source: www.ghanawebbers.com

Digital technology key to integrating Africa’s economies – Wamkele Mene

Digital technology key to integrating Africa’s economies – Wamkele Mene Digital technology key to integrating Africa’s economies – Wamkele Mene

Mr. Wamkele Mene, Secretary-General of the African Continental Free Trade Area (AfCFTA) Secretariat, emphasized that digital technology and inclusive value chains are vital for creating a unified African market.

Speaking at a workshop in Accra on AfCFTA implementation, Mene highlighted Africa’s growing digital economy, which offers significant opportunities for youth- and women-led cross-border businesses, with the e-commerce market projected to reach $2.5 trillion by 2030.

The workshop addressed challenges like non-tariff barriers and provided MSMEs with solutions for effective trade navigation. Mene underscored the importance of investing in digital infrastructure to boost intra-African trade and foster youth self-employment.

He also noted that protocols on digital trade, investments, and intellectual property aim to develop a unified digital market, enhancing trade efficiency and securing favorable global negotiations.

Other speakers, including Madam Naa Densua Aryeetey and Mr. Mamadou Biteye, called for gender-inclusive trade facilitation measures, financial accessibility, and supportive regulatory environments to maximize AfCFTA’s transformative potential.