Stakeholders advocate unlocking of Africa’s economic potential

Stakeholders at the Africa Business Forum, have called for the activation of regional value chains to unlock Africa’s economic potential.

Mr Claver Gatete, Under Secretary-General and Executive Secretary of the Economic Commission for Africa (ECA), said this in a statement on Wednesday.

Supreme news reports that the high-level event brought together heads of state, policymakers, private sector leaders, and experts to discuss Africa’s industrial development challenges and opportunities.

Gatete emphasised the need to accelerate the implementation of the African Continental Free Trade Area (AfCFTA) to foster regional value chains.

“We must establish these value chains, particularly in pharmaceuticals, agriculture, and industrial sectors.

“Intra-African trade costs remain significantly high compared to external markets, therefore, nations needs to collaborate to reduce barriers, enhance infrastructure, and invest in value-added production,” Gatete said.

The executive secretary said one of the notable initiatives discussed was the Africa Electric Vehicle project, linking the Democratic Republic of the Congo and Zambia.

Gatete said that such projects, which focused on building economic zones, improving transport infrastructure, and attracting private investors, could drive sustainable development across the continent.

The ECA boss said the forum also addressed Africa’s rising debt, which had reached 1.21 trillion dollars.

Gatete reiterated the need to engage debt partners from the Paris Club, non-Paris Club, and the private sector to find solutions to Africa’s high indebtedness.

“The AfCFTA is an essential tool to drive down costs and improve Africa’s global competitiveness,” he said.

Gatete urged African governments and businesses to challenge external perceptions about African products and focus on producing globally competitive goods.

“We need to change the narratives about Africa and show that we can make world-class final products.

“Products from Africa are neither fake nor unfinished—they reflect our capabilities and our future,” he said.

The Forum featured a Presidential Dialogue with prominent African leaders, including President Duma Boko of Botswana, President John Mahama of Ghana, and Mr Alexandre Chambrier, Deputy Prime Minister of Gabon.

The leaders reiterated the need for Pan-African cooperation to activate regional value chains.

Panels on financing, trade facilitation, and technological innovation provided practical solutions to bridge investment gaps and unlock Africa’s potential.