As Africa Month unfolds, it’s a time not just for celebration but also for profound reflection on the continent’s journey towards unity, progress, and prosperity. At the heart of this journey lies the African Continental Free Trade Area (AfCFTA) – a beacon of hope and opportunity for all Africans. As we commemorate Africa Month, let us pause to recognize and celebrate the remarkable achievements that have marked the AfCFTA’s path to realization.
First and foremost, the widespread support and commitment to AfCFTA among African nations is truly remarkable. With 47 of the 55 African Union member states having ratified the agreement, and seven having signed, the overwhelming consensus in favor of AfCFTA underscores the collective determination to harness the power of intra-African trade for the benefit of all. With only one member state left to sign, the AfCFTA stands on the brink of full implementation, symbolizing a triumph of African solidarity and cooperation.
Furthermore, the successful launch of the Pan African Payment and Settlement System (PAPSS) represents a significant milestone in Africa’s quest for economic integration. By facilitating seamless cross-border transactions and eliminating exorbitant transaction fees, PAPSS has not only saved Africa over $5 billion annually but has also fostered greater financial inclusion and empowerment for millions of Africans. This achievement exemplifies the transformative impact of innovative solutions tailored to Africa’s unique challenges and opportunities.
In addition to these economic milestones, the conclusion and ratification of five key protocols by the AU Heads of State and Government Assembly signal Africa’s unwavering commitment to addressing critical issues and advancing shared objectives under the AfCFTA framework. From promoting fair competition and protecting intellectual property rights to facilitating investment, e-commerce, and empowering women and youth, these protocols lay the foundation for a more inclusive, equitable, and sustainable future for all Africans. They reflect Africa’s resolve to build a continent where opportunities abound and prosperity knows no bounds.
Moreover, the expansion of the Guided Trade Initiative to include more countries underscores the growing momentum and enthusiasm surrounding AfCFTA. By providing technical assistance, capacity building, and support to participating countries, the Guided Trade Initiative is empowering African nations to fully leverage the opportunities offered by AfCFTA and navigate the complexities of international trade with confidence and competence. This initiative exemplifies Africa’s proactive approach to ensuring that no country is left behind in the journey towards economic integration and development.
As we celebrate these achievements, let us also acknowledge the challenges that lie ahead. The road to realizing the full potential of AfCFTA may be fraught with obstacles, but with determination, collaboration, and innovation, we can overcome them. Let us rededicate ourselves to the principles of unity, solidarity, and cooperation that underpin AfCFTA and work tirelessly towards building a brighter future for all Africans.
In conclusion, as we mark Africa Month and celebrate the achievements of the AfCFTA, let us take pride in how far we have come and draw inspiration from the progress we have made. Let us recommit ourselves to the ideals of unity, progress, and prosperity that AfCFTA represents and continue to strive towards a future where Africa’s vast potential is fully realised, and every African can thrive and prosper.
Let me end by reiterating the recent good news we received from the UK-based company, MEA Markets, of Brandhill Africa having being nominated for the “African Excellence Awards”. This for us means our humble efforts in rewriting the narrative on Africa by re-engineering its brand is acknowledged not only across the continent but globally too. This comes as a cherry on top of our previous acknowledgements such as the “Business Excellence Award 2022” from the World Confederation of Businesses; “Brand Leadership Award 2020” by the World Brand Congress; and my multiyear nomination as “The World CEO of the Year” by The World’s CEO Rankings Board two weeks ago; 2022 (ranked 16 globally and 2nd highest in Africa); and 2021.
Tujenge Afrika Pamoja! Let’s Build Africa Together.
Enjoy your weekend.
Saul Molobi (FCIM)
PUBLISHER: JAMBO AFRICA ONLINE
and
Group Chief Executive Officer and Chairman
Brandhill Africa™
Tel: +27 11 483 1019
Mobile: +27 83 635 7773
eMail: saul.molobi@brandhillafrica.com
Website: www.brandhillafrica.com
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