LiFT Africa: Connecting the Continent to unlock trade

The African Continental Free Trade Area (AfCFTA) is crucial for Africa's economic future. Its success depends on effective systems. These include connected corridors, efficient borders, and reliable payment systems.

The first part of my LiFT Africa strategy focuses on infrastructure. This means investing in logistics corridors, railways, ports, and power pools that cross borders. We also need to invest in policy linkages like harmonized customs and aligned regulations.

Infrastructure alone is not enough; it needs supportive policies. A corridor's effectiveness relies on its customs system. Regional energy pools require solid agreements to function properly. The African Development Bank (AfDB) must finance assets and reduce risks associated with rules.

Additionally, the Bank should build confidence in trade. This involves expanding trade finance for African SMEs. It also means helping governments speed up trade facilitation processes. Using concessional resources can lower costs for cross-border businesses.

LiFT Africa aims to connect infrastructure with policy and strategy with delivery. We will integrate regional development into the Bank’s core operations as a priority. This includes fast-disbursing platforms and performance dashboards to track spending and system changes.

Africa's future lies in regional cooperation. The AfDB must lead this effort effectively.

Swazi Tshabalala is a candidate for President of the African Development Bank. He is a former Senior Vice President and Chief Financial Officer of the Bank.