African countries participating in the Africa Economic Summit 2024 held last week in Abuja pledged to boost intra-continental trade from 14% to at least 50% by 2030 under the African Continental Free Trade Area (AfCFTA). The summit’s president, Sam Ohuabunwa, told journalists that the venue was an opportunity for Africa to leverage strength and become truly competitive. “We call on all African leaders to preach the concept of One Africa! Ohuabunwa also decried that Africa currently has the world’s lowest intercontinental trade and called on African governments to increase infrastructural development, provide an attractive investment climate, and promote private-public sector collaboration to facilitate productivity, wealth creation and poverty minimization. The Africa Economic Summit 2024 sought to bring together key stakeholders to put forward new perspectives and stimulate strategic discussions around Africa’s economic challenges and policy priorities.
