Africa-Press – Mauritius. David Jeng, a founding member of the African Continental Free Trade Area (AfCFTA) said it represents a transformative economic initiative that signals a new era of collaboration and collective prosperity across the African continent.
He emphasised the need for strategic collaboration and concerted efforts among African nations to unlock the continent’s full financial potential and harness the economic benefits of AfCFTA.
Jeng highlighted that a unified market makes Africa more attractive to foreign investors seeking to capitalise on economies of scale.
“With AfCFTA, businesses can operate seamlessly across multiple countries, encouraging investment in infrastructure, technology, and innovation. This, in turn, can drive economic growth, create jobs, and improve living standards for Africans,” Jeng said.
However, Jeng also noted that Africa’s private sector, particularly Micro, Small, and Medium Enterprises (MSMEs), faces significant challenges. “Many MSMEs are hindered by limited access to finance and a focus on survival rather than innovation.”
To address this, Jeng emphasised the need for a shift towards fostering innovation and value addition within the private sector, drawing inspiration from successful models.
He said the Africa Technology and Creative Group (ATCG) was formally unveiled in 2019 to support the implementation of AfCFTA.
“ATCG is a coalition of tech and creative professionals whose mission is to support the creation of frameworks for the successful implementation of AfCFTA in relation to their areas of influence and the wider economy.”
Jeng emphasised the importance of collaboration between government and private sectors, as well as international organisations, in fostering and driving the creative ecosystem.
He also highlighted the need for robust policies that support start-ups in the creative economy, investment in digital infrastructure, IP protection, and economic incentives.
To accelerate the implementation of AfCFTA, Jeng joined Nigeria’s Minister of Communications and Digital Economy, Dr Bosun Tijani, and members of ATCG at a Ministerial Roundtable recently.
The roundtable focused on digital trade protocol and strategic steps to accelerate AfCFTA implementation for the tech and creative sectors.
Jeng said the AfCFTA has the potential to transform the African economy and promote collective prosperity across the continent.
“However, its success depends on strategic collaboration and concerted efforts among African nations. By fostering innovation, value addition, and collaboration, Africa can unlock its full economic potential and create a brighter future for its citizens.”
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