3i Africa Summit aligns with AfCFTA goals for economic diversification, inclusive growth – Wamkele Mene

Delivering an address on behalf of the Secretary-General of the AfCFTA Secretariat, Wamkele Mene, at the press launch of the 3i Africa Summit on Monday, February 26, 2024, the Chief of Staff at the AfCFTA Secretariat, Silva Jaco, noted that by adopting advanced technologies and innovative financial solutions, Africa can bridge the digital divide, improve access to financial services and create an environment where entrepreneurs and businesses thrive in the new era of African economic development, characterized by strong commitment to promoting trade, investment and infrastructure development.

According to him, the 3i Africa Summit represents a watershed moment in the Continent’s progress towards digitally empowered African economies.

“The summit is undoubtedly in line with the goals of the AfCFTA which include fostering economic diversification, generating employment opportunities for our people, and promoting inclusive growth across the continent,” he remarked.

“The Summit represents an important step toward the successful implementation of the AFC FTA with a strong emphasis on key areas such as infrastructure development, fostering innovation, catalyzing investment, and streamlining policy frameworks,” he added.

He noted that investment in digital infrastructure, a key focus of the summit is vital for facilitating digital trade under the AfCFTA.

“This entails enhancing broadband connectivity digital payment system, and E-commerce platform enabling businesses to trade across borders more efficiently and at lower costs. Also by showcasing opportunities and facilitating partnerships, the summit can boost investor confidence which is crucial for financing projects that are critical to the success of the AfCTA,” he posited.

Concluding his remarks, he noted that the Secretariat is committed to supporting the 3i Africa summit and encouraged stakeholders across the continent and beyond to actively engage in the transformative event.

“This is a call to action for all who believe in the power of digital transformation to boost economic growth and build a more inclusive and sustainable future for Africa. Together, we can seize the opportunities presented by the digital era to foster a prosperous, inclusive, and resilient African economy,” he noted.

The press launch is to officially inform stakeholders, partners and the general public of the upcoming 3i Summit scheduled to take place in Ghana from the 13 to 15 May 2024 at the Accra International Conference Centre.

The 3i Africa Summit, initiative jointly developed by the Bank of Ghana, the Monetary Authority of Singapore, Development Bank Ghana, and supported by Elevandi, aims to spearhead transformative discussions, address key growth and investment opportunities, and explore how market players in the financial ecosystem are leapfrogging in digital transformation and pioneer the much-needed dialogues and actions to drive Africa’s
Fintech growth.

Source:norvanreports