Build synergies for sustainable business in Africa – GATAC President

The African continent is poised to reach a population of 1.1 billion people by 2040, making it the largest workforce globally. In line with the ambitious ‘Agenda 2063’, the African Union has set forth a strategy for a prosperous Africa rooted in inclusive and sustainable development.

Dr. Dominic Oduru Antwi, the President of the Global Africa Trade Advisory Chamber (GATAC) – recently recognised as one of the new Africa 100 Iconic Africa leaders in 2023 by the New Africa magazine – emphasised the need for a common strategic plan and collaboration among African countries. Africa, often seen as a continent with immense economic potential, must foster partnerships, promote regulatory harmonisation, and align standards to create unparalleled opportunities for its businesses.

Dr. Antwi highlighted the potential benefits, stating: “Reducing compliance costs, increasing competitiveness, and enhancing the attractiveness of African products to international buyers will make Africa globally competitive”. He underscored that alongside infrastructure development, significant investment is crucial for fostering economic growth and creating employment opportunities in Africa.

Emphasising the importance of synergy and collaboration between African countries, Dr. Antwi noted: “Such collaboration has the potential to facilitate technology transfer, enhance human resource capacities, and foster job creation across the continent”.