Trade is the engine of growth to save Africa from poverty - Kwame Danquah

Africa is endowed with numerous natural resources, yet people on the continent continue to wallow in poverty because these essential commodities are not fully exploited for the betterment of Africans.

Apart from this, other challenges include trade barriers, high unemployment rates, and a high cost of living, among others.

According to the President of the International Secretariat of Harakati za Muungano, Kwame Danquah, trade is the engine of growth that can bolster African economies.

In his view, Africans should be able to trade freely to harness their countries' full resources, which will in turn foster strong ties between neighboring countries. This, he said, will help Africa achieve more as the environment will be conducive for trade and attract foreign investments.

"Africa is the only continent whose trade among its member countries runs below the 20% mark. Africa does under 15% trade between African countries... Africa will continue to wallow in tragedy, and it is not a good story for Africans," Mr. Danquah said.

He added that, "Trade has been proven to be the best engine to lift people out of poverty, and if we don't trade amongst ourselves, free our borders to eliminate or reduce tariffs, then it wouldn't be surprising that Africa would continue to wallow in poverty and hunger."

"An integrated market means removing trade barriers, harmonizing standards, and implementing policies that encourage cross-border trade and investments," he said at the launch of Harakati za Muungano in Accra.

Mr. Danquah further stated that Small and Medium-sized Enterprises are the backbone of many African economies and will gain access to a broader market if integrated.

The move, he said, will foster innovation, enhance competitiveness, and increase employment.

This shifts the focus from dependence on a limited number of commodities for export earnings to more robust, diversified economies emphasizing manufacturing and services that can better withstand global economic shocks.

To curb this menace, the overdependence on foreign aid must come to an end, increase production capacity, and increase employment.

Kwame Danquah stated that the formation of this trade union aims to actively work to establish a consolidated union in sub-Saharan Africa, promote and uphold liberty, justice, and equality.

SA/OGB