Stellenbosch Business School Panel Proposes Key Reforms for Robust Intra-African Trade

Stellenbosch: Stellenbosch Business School's Thought Leadership Panel Discussion on 'Boosting Intra-African Trade and Investment: Priorities and Levers for Action' saw guest experts propose key reforms to transform intra-Africa trade. The panel, featuring diverse expertise from investment, insurance, law, finance, academia, and digitalisation, delved into the challenges of Africa's internal trade and the policies needed to address them.According to Ghana News Agency, the panel included prominent figures such as Mr. Chris Wullf-Caesar, Managing Director of Unilever Ghana Plc; Professor Charls Adjasi, Professor in Development Finance at Stellenbosch Business School; Ms. Brenda Semevo Afari, Legal Counsel and Corporate Governance Consultant; and Dr. Ralph Nordjo, Director of the Africa Directorate at the Copenhagen Consensus Centre. Other notable panellists were Mr. Lawrence Okine, an alumnus of the Business School; Ms. Nana Esi Idun-Arkhurst, Divisional Director for Business Banking at Fidelity Bank Ghana; Mr . Ekow Thompson, Executive Leader in Digital Innovation at Interactive Digital Limited; and Ms. Genevieve, General Manager of Enterprise Funeral Services.Mr. Lawrence Okine advocated for a collective mindset shift to drive continental development. He stressed that Ghana's progress was intrinsically linked to Nigeria's and Africa's overall growth. Mr. Okine urged leaders to adopt a unified approach in global engagements rather than acting in isolation. He pointed out that the African continent lagged in many contemporary developments, notably internet connectivity and trade, with only 50 percent internet penetration, significantly behind continents like Europe, which boasted 95 percent.Mr. Chris Wullf-Caesar highlighted the potential of the Africa Continental Free Trade Agreement (AfCFTA) to enhance trade among African countries. However, he pointed out that the agreement was more theoretical due to challenges in moving products across African countries. He urged continent leaders to strengthen the AfCFTA protocols by addressing issues like non-tariff barriers.Ms. Nana Esi Idun-Arkhurst elaborated on the difficulties small businesses face due to fragmented infrastructure. She explained that inadequate infrastructure and high transportation costs were stifling economic potential and hindering the continent's youth from taking advantage of digital opportunities. She called for robust infrastructure, including digital connectivity and efficient transportation, to facilitate the movement of goods and services across the continent.