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Africa's fragmentation a challenge for AGOA investment
Africa's size is its attractiveness. Its challenge however is its fragmentation. This is according to Ade Ayeyemi, the Group CEO of ECOBANK Transnational Incorporated. CNBC Africa's Onyi Sunday caught up with him at the ongoing AGOA Forum in Togo.
Thu, 10 Aug 2017 13:05:39 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- The importance of leveraging market access and creating wealth through trade
- The need for regional integration to scale up Africa's footprint in global trade
- The crucial role of ideas, innovation, and collaboration in driving trade and eradicating poverty in Africa
Africa's size and potential make it an attractive market for trade and investment. However, the continent faces a significant challenge in its fragmentation, hindering its ability to fully capitalize on the opportunities available. Ade Ayeyemi, the Group CEO of ECOBANK Transnational Incorporated, highlighted the importance of leveraging the market access granted by initiatives like AGOA to create wealth and drive economic growth in Africa. Speaking at the AGOA Forum in Togo, Ayeyemi emphasized the need for African nations to work together towards regional integration to scale up their footprint in global trade. He stressed the significance of moving beyond just exporting goods to also focusing on exporting services and integrating into the global value chain. Ayeyemi underscored the critical role of ideas and innovation in driving trade and eradicating poverty in Africa. He called on leaders to adopt a mindset of collaboration and to prioritize investment in creating conducive conditions for trade. Despite the challenges of financing and infrastructure, Ayeyemi believes that a shift in mindset, supported by innovative ideas, is the key to unlocking Africa's trade potential. The road to success lies in regional integration, innovation, and a collective effort to create a conducive environment for trade and investment in Africa.
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