Now into the first month of the eight year as the Chief Administrator of the Republic of Ghana President Nana Addo Dankwa Akufo-Addo is still into more rhetoric. He is encouraging Africa to go beyond rhetoric and dialogue to develop concrete strategies for transformative change.
Unfortunately, many would suggest that that is what he has been doing over the past seven years; rhetoric.
According to him, these dialogues must critically examine the private sector’s obligations and expectations, as well as demand the same from the governmental sector, to achieve the desired Africa.
This is coming at a time his government is contemplating placing a whopping 20% VAT on electricity and Accra, the nation’s capital, is coming out of a water crisis.
The President suggested more dialogue in place of the dialogue which has been Africa’s game for years, saying that the dialogue must be representative of all sectors needed to bring prosperity, ensuring that the growth targets that area attained are sustainable, irrespective of future global challenges.
President Nana Akufo-Addo was speaking at the opening second edition of the Africa Prosperity Dialogues 2024, at the Peduase Lodge, in the Eastern Region.
He stated that the conversations (dialogues) should focus heavily on the development of sustainable farming practices.
Ghana has been implementing an agricultural policy, ‘Planting for Food and Jobs’ since 2017 with wishy washy results.
This must be complemented with targeted investment and infrastructure for innovation and technology, especially in agribusiness and industry that boost production.
Ghana’s private sector is currently laboring under his cost of energy and water and an unfriendly regulatory regime. In seven years, the government has not held a single investment dialogue with local private capital.
The President emphasized the importance of ensuring the agriculture sector’s resilience in the face of global challenges and climate change.
Ghana is on international record as blaming Covid 19 and the Russia-Ukraine War as the basis of why its economy is failing.
“I am encouraged that Africa now has a private sector that is ready, deliberate and eager to see to the 60-year-old dream of a united Africa manifest,” he piped.
The President rightly stated that to unlock the full potential of trade for prosperity, it was important to prioritise efficient transport and logistics infrastructure, expedite trade processes, and embrace digital technology.
Furthermore, stakeholders should strive diligently to promote cross-border transactions without relying on foreign currencies.
President Akufo Addo is saying this at a time that the ECO, the proposed African currency, has not been able to more beyond the board room in seven years.
He emphasised the importance of facilitating the free movement of people, products, and services across the continent, as outlined in the Africa Continental Free Trade Area (AFCFTA).
Ghana’s borders however remain tightly regulated, with other concerns beyond the free movement of goods and services holding sway. Rhetoric?
The President hailed the African Prosperity Dialogues as a worthwhile endeavour that aimed to promote understanding, dialogue, and commitment to achieving the AFCFTA’s goals.
He applauded the organisers for their efforts in bringing together the high-profile resource persons and stakeholders, saying, “This will leave no one in doubt that this is a project that requires all the support we can muster.”
“The Network provides a unique platform dedicated to mobilising Africa’s energetic private sector to own and drive the fulfilment of the promises that the AFCFTA presents,” he said.
President Akufo-Addo urged participants to work hard to achieve the goals of the programme, citing the continent’s ability to industrialize, add value to raw materials, and invest in social, digital, economic, and physical infrastructure.
Mr. Joaquim Alberto Chissano, former President of Mozambique and Chairperson of the Africa Forum pointed out that the continent’s leaders needed to get together to discuss and find solutions to the development challenges hindering Africa’s growth.
Mr. Njack Kane, acting Chief Executive Officer of the Africa Prosperity Network Secretariat, stated that the programme’s strategic objectives included facilitating comprehensive dialogue, promoting regional integration, prioritising inclusiveness, and providing a platform for sharing best practices.
The summit will feature thematic roundtable discussions, high-level sessions, and a Presidential Gala Dinner, culminating in a High-level Presidential Dialogue session.
Mr. Wamkele Mene, the Secretary-General of AFCFTA, urged private businesses to take advantage of the opportunities offered under the initiative to expand their businesses.
The three-day programme, being held on the theme: “Delivering Prosperity in Africa; Produce, Add Value, Trade”, aims to address key issues hindering Africa’s progress and chart a course towards a more prosperous and inclusive future.
