AFRICA ON THE MOVE FOR POVERTY ELIMINATION

                                                   

African countries have been called upon during the 13th session of the African Continental Free Trade Area (AFCTA) to explore new and progressive initiatives that will lift it's people out of poverty.

The summit which was held virtually in light of the global Covid-19 health pandemic has put into motion the free trade treaty which was launched in 2018 in Kigali Rwanda that will create a giant continental market of 1.3 billion people with about 2.3 trillion US dollars.

When addressing the summit, current African Union (AU) chairperson and president of South Africa Cyril Ramaphosa said the AFCTA is an initiative to create an integrated prosperous continent.

He said the AFCTA provides an opportunity for the growth of the private sector which he said must rise to the occassion by supporting the continental efforts through human and financial capital.

His Excellency - Cyril Ramaphosa 

He said, :"This our treaty presents immense opportunities for the private sector in Africa and will be a catalyst for the development and expansion of private enterprise on our continent. We call on the private sector to be our partners in this journey and provide support to this continental effort through the development of human and financial resources and investments in the areas such as infrastructure and technology ".

Adding in his speech, the AU chair said the treaty must facilitate greater acfews for women on trade and investment opportunities.

In his remarks, chairperson of the African Commission Moussa Faki Mahatma said the trade treaty is a game changer for the continent of Africa.

"We are now fulfilling an old dream of the founding fathers that is it's establishment and all the African markets, since 1963 to date, it has been a long way despite all the hiccups that they have faced and the natural disasters like Covid-19 this Africa has faced". Said Mahatma.

Secretary general of the AFCTA Wamkele Mene hailed a recent World Bank study which noted that if implemented effectively, the AFCTA has potential to lift 30 million Africans out of extreme poverty and 70 million out of moderate poverty by 2035.

Mene - It will take resolute determination

He said, "As much progress as we have made, integrating 55 markets will not be easy, it will be difficult, it will be a daunting task, it will take resolute determination decade after decade. However, to throw our hands in the air and say the task is too difficult is not an option "

Fifty four countries have signed up for the African Continental Free Trade Area which is expected to come in full course on 1 January 2021.