“AFRICANS ARE NOT PRESENT IN THEIR OWN ECONOMY”

Reflecting on the outcomes of the IATF Business Forum hosted in May 2023 at the Sandton Convention Centre in Johannesburg, South Africa:

“Africans are not present in their own economy” says Black Business Council CEO in the Built Environment Mr Gregory Mofokeng.

Addressing attendees of the IATF Road to Egypt Business Forum, Mr Gregory Mofokeng of the Black Business Council highlighted the profundity of Africans uniting and engaging on an open market for free trade, for African businesses within the continent.

During his speech Mofokeng expressed his support for the AU 2063 agenda which speaks to Africans infra-trade. He also expressed the importance of African people being the ones to directly benefit from the continent.

“ Unfortunately as Africans we have allowed others as far our backyard is concerned, to play a meaningful role in our economy and we are not there”

Gregory Mofokeng – CEO Black Business Council – Built Environment.

Americans are present, Europeans are present, Asians are present but Africans are not present in their own economy. We want an Africa that is free of wars so that our people can live peacefully, so we can trade with each other and live sustainable lives said Mofokeng.

“While conflicts have abated, there are still many examples of intractable conflicts and new eruptions of violence. Furthermore, Africa remains marginalized in global governance system, and lacks full control over her resources and destiny” – AU Agenda 2063.

According to the AU Agenda 2063 in May 2003, Africa celebrated the Golden Jubilee of the founding of the Organization of African Unity (OAU). On that occasion, Africa’s political leadership took stock of past achievements and challenges, and rededicated itself to the continent’s socioeconomic and political transformation through a forward-looking 50-year continental framework. Agenda 2063 is founded on the AU vision of “ an integrated, prosperous and peaceful Africa, driven by its own citizens and representing a dynamic force in the international arena”.

IATF is an initiative that supports the implementation of the AfCFTA. It is organised by Afreximbank in collaboration with the African Union and AfCFTA Secretariat, marking an important step to sustainably addressing the gap in trade and market information for the successful realisation of the AfCFTA objectives.

“A lack of access to trade and market information is one of the key reasons for the low level of intra-African trade” – Ms. Kanayo Awani,
Executive Vice President, Intra-African Trade Bank.

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