African heads of state are set to participate in the maiden edition of the Africa Prosperity Dialogue Series which is expected to take place in Ghana from 26 to 28 January 2023, organizer of the summit, Africa Prosperity Network (APN), has confirmed.
President Akufo-Addo, has invited his colleague heads of state across the continent to the summit. Several high-profile business executives across the continent, according to the summit organisers, have confirmed their participation and they include personalities from such countries as South Africa, Nigeria, Ethiopia, Morocco, Kenya, Cote D’Ivoire and Cameroon.
The theme for the conference dubbed ‘Kwahu Summit’ is AfCFTA: From Ambition to Action – Delivering Prosperity through Continental Trade.
Two-part summit
Addressing a pre-summit press conference in Accra today 11 January 2023, at the State House (SDGs Advisory Unit), Dr. Eugene Owusu (Executive Director and Coordinator of the Kwahu Summit Secretariat and Special Advisor to the President on the Sustainable Development Goals (SDGs), said the choice of the theme of the summit “reflects the tremendous opportunities that the AfCFTA presents for deepening intra-African trade and for advancing prosperity of the continent overall”.
“The Dialogue will be in 2 parts as follows: 26-27 January – Business and Policy Leaders Dialogue that will take place at the Safari Valley Resort at Adukrom in the Akwapim Hills. 28 January – Presidential and Business Leaders Summit that will be held at the Peduase Presidential Lodge.
The Business and Policy Leaders’ Dialogue will bring together business executives, trade associations, ministers of state, heads of Regional Economic Communities under the AU, technocrats, women, young entrepreneurs and Thought Leaders to define practical ‘quick wins’ to move the AfCFTA initiative from Ambition to Action,” Dr. Eugene Owusu told the press.
Unleashing AfCFTA’s potential
In his statement, Dr. Eugene Owusu, observed, “The key areas that are critical to unleash the potential of the AfCFTA include the following: Enhancing Productive Capacity such as Transportation, Agriculture and Energy; Finance, Technology and Innovation (including especially Payment Systems); Critical Legal and Institutional Constraints to the actualization of the single African market and Free Movement of people across borders.
“The Presidential and Business Leaders Summit that will take place on 28 January will be a high-level roundtable dialogue between selected African heads of state and business and industry leaders, and it is expected to culminate in the adoption of a compact between the heads of state and the business leaders, with an actionable roadmap and metrics for measuring progress,” Dr. Owusu said.
Targeted objectives
Touching on what organizers seek to achieve with the maiden edition of the Africa Prosperity Dialogues, Dr. Eugene Owusu, noted, “In addition to the Compact, it is APN’s hope that the maiden dialogue will help create greater awareness of the AfCFTA and enhance its inclusive implementation and offer a platform for Africa’s political and business leaders to achieve alignment on how to accelerate and deepen trade on the continent”.
Organizers also anticipate that the summit will help in the “sharing of best practices and importantly practical actions to expedite the movement of people, goods and services across the continent as envisaged under the AfCFTA as well as foster stronger strategic partnerships between industry leaders and Heads of State on specific transformational projects that will accelerate implementation of the AfCFTA”.
Continental progress
The African Continental Free Trade Area, Dr Owusu indicated “has set the stage for Africa’s industrialization drive, and we believe the initiative hold the key to the prosperity of the continent.
“We are talking about a market of 1.3 billion people, with a combined market size of $2.2 trillion. The benefits of success are huge, including an estimated income gain of about $450 billion, the potential to lift an estimated 30 million people from extreme poverty.
“We must leverage the AfCFTA to unleash the full potential of this continent and to change the narrative about Africa. It is our hope that the maiden Kwahu Summit will help define concrete strategic actions by political and business leaders across the continent, including the right mix of policies,” Dr. Eugene Owusu noted.
“We also do hope that the Summit will foster a greater sense of purpose for more robust intra-Africa trade to happen to support the much-needed industrialization of the continent, which is so key for the prosperity of all Africans,” he added.
