Vice president calls for Africa to trade more with itself
Vice president Lucia Witbooi says stronger economic cooperation between African countries is critical to unlocking the continent’s full potential. She urged businesses and governments to work together to drive industrialisation, innovation and intra-Africa trade. Speaking at the Namibia-Kenya business forum in Nairobi on Wednesday, Witbooi said African economies have traded more with the rest of […] The post Vice president calls for Africa to trade more with itself appeared first on The Namibian.
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Vice president Lucia Witbooi says stronger economic cooperation between African countries is critical to unlocking the continent’s full potential.
She urged businesses and governments to work together to drive industrialisation, innovation and intra-Africa trade.
Speaking at the Namibia-Kenya business forum in Nairobi on Wednesday, Witbooi said African economies have traded more with the rest of the world than with one another for far too long.
“We have exported raw materials while importing finished products. We have operated in fragmented markets despite the immense potential within our continent. The time has come for Africa to redefine this economic model,” she said.
Witbooi said the African Continental Free Trade Area offers a major opportunity to transform Africa into an integrated market, driven by industrialisation, innovation, value addition and intra-Africa trade.
She stressed that agreements alone will not transform economies, saying that governments and the private sector must build deliberate partnerships, invest in productive sectors and encourage African businesses to expand across borders.
She said Kenya has established itself as a leader in innovation, financial technology, logistics and agribusiness, while Namibia offers political stability, sound governance, strategic logistics infrastructure and opportunities in energy, mining, tourism, agriculture and manufacturing.
“Together, our countries possess complementary strengths that can support industrial growth, regional value chains and sustainable economic development,” she said.
Witbooi added that economic cooperation should also be measured by jobs created, industries developed, skills transferred and opportunities provided to young people, women and emerging entrepreneurs.
The post Vice president calls for Africa to trade more with itself appeared first on The Namibian.
