The African Continental Free Trade Agreement (AfCFTA) Policy Network (APN) has commenced discussion with international investors for the establishment of an ‘Investment Hope City’ hub to support the growth of entrepreneurship in Africa.
The ‘Investment Hope City’, according to reports, will be a centre of excellence on issues in relations to the AfCFTA and businesses on the African continent.
“We have investors that have already shown interest from JTC Group, one of the largest fund managers with asset of over US$120 billion. They are interested in supporting the tourism aspect of the project. We have agribusiness with investors from the US coming to invest in that area.”AfCFTA Policy Network Group
Speaking to the media at the Africa Globalized Investment Forum, Mr. Louis Afful, the Executive Director of the Network stated that “the focus is to have an APN tower which will be a centre of excellence. Also, we want to have a tourism eco system”.
The investment forum which commenced on Monday, 25th October 2021 in Accra, is expected to end on Wednesday, 27th October 2021.
The Forum has in attendance international government officials, non-governmental organisations, private sector leaders, investors, and businesses, from across the globe to invest in all the economic sectors of the member states of AfCFTA.
Speaking at the Forum, Hon. John Kumah, a Deputy Minister of Finance highlighted financial markets deepening and the introduction of digital innovations like the e-Cedi by the Bank of Ghana (BoG), as part of the measure tailored to motivate progressive industrial growth under the programme.
Also, touching on government of Ghana’s support for the initiative, Hon. Kumah stated that the government is ready to collaborate with the private sector to see the initiative to fruition.
The Globalized Investment Forum
The globalised investment forum by the AfCFTA Policy Network is purposed to bring industries, governments, and other stakeholders together for a common goal of promoting locally produced goods and services.
As many African countries prepares to fully trade under the continental free trade agreement, many industries are also making strategic efforts to improve on their products and services in order to capture the wider market on the continent.
Elaborating on the forum, the Executive Director of the Network, Mr. Afful said the forum seeks to support the AfCFTA Secretariat to accelerate the implementation of AfCFTA by creating awareness in all African countries through the organization of the Forum.
Speaking on some benefits that are likely to emerge from the Forum, Mr. Afful said it will “expose the tourism potential and the role of tourism within the movement of people under the AfCFTA”.
Also, the Executive Director said the AfCFTA will help to “create opportunities for the youth and women entrepreneurs and Micro, Small Medium Enterprises (MSMEs) across Africa to assume a major role in the implementation and to be beneficiaries of the AfCFTA”.
Reports have it that, the programme is set to be organised annually in all respective African countries through a collaborative effort between the APN and the diaspora office in the United States of America, partners in the Arab league, Asia, and Europe.
Other notable guest speakers at the Forum include Dr.Alhaji Mahamudu Bawumia ,the Vice President of the Republic of Ghana; H.E. Wamkele Mene, AfCFTA Secretary-General; Hon. Alan Kyeremateng, Minister of Trade, Ghana and Hon. Ken Ofori-Atta, Minister of Finance, Ghana.
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