President Akufo-Addo, has encouraged Global Africans to invest in Africa, particularly highlighting the significance of the African Continental Free Trade Area (AfCFTA).
He noted that the AfCFTA presented an opportunity for the continent to attract investments for industrial development and transformation.
“Like the vision of our forebears, the AfCFTA sets the stage for Africa’s industrialization and transformation. What is required now is for our respective governments and businesses to show bold leadership. We need coherent and complimentary strategic actions by governments and businesses.
“The right mix of policies and strategies for exports, value addition to raw commodities and a greater sense of purpose to ensure a robust intra-Africa trade, to drive agricultural growth, economic diversification and the much-needed industrialization of the continent.
“As the saying goes, nothing succeeds as much as success. If we work at it, if we stop being beggars and spend Africa’s money inside the continent, Africa would not have to ask for respect from anyone, we will get the respect we deserve,” president Akufo-Addo said.
The Africa Prosperity Network (APN), in partnership with the African American Institute (AAI), has introduced the Global Africa Network.
This platform aims to mobilize the Global African (African Diaspora) community, providing them with access to funding opportunities to invest in Africa.
The launch of the Global Africa Network took place during the inaugural Global Africa Forum, held on the sidelines of the 78th UN General Assembly in New York. The forum’s theme centered on “Mobilizing Global Africa Investments to Boost Intra-African Trade.”
This forum, which occurred on September 21st, brought together various African policy and business leaders, as well as prominent Global Africans. During the event, leaders emphasized the importance of Global Africans actively participating in Africa’s development.
Leaders at the forum identified specific areas of investment, including the manufacturing sector, pharmaceutical industry, agriculture sector, and a newly established $1 billion AfCFTA adjustment fund, aimed at supporting productive sector investments.
Kofi Appenteng, President and CEO of the African American Institute (AAI), pointed out three critical actions that African governments should take to create an environment conducive to attracting funds from the Global African diaspora networks.
These actions include facilitating easier travel, providing pathways for residency and citizenship for non-citizens, and simplifying real estate acquisition for investors.
Gabby Asare Otchere-Darko, Executive Chairman of the Africa Prosperity Network (APN), emphasized that economic integration is crucial for Africa’s peace, security, and prosperity.
He advocated for a mindset of “Africa without borders” to promote unity and investment on the continent. Otchere-Darko urged Global Africans to invest in Africa, highlighting the potential for profitability.
The Global Africa Network was officially launched to serve as a platform for Global Africans to engage with African leaders, establish partnerships with the African private sector, and facilitate investments in Africa. Membership is open to Diasporan associations, fund managers, investment brokers, and asset managers.
The Africa Prosperity Network, the African American Institute, and the UNDP’s Regional Bureau for Africa will collaborate to manage the network’s activities and engagement with the African continent.