At the Biashara Afrika 2024 conference held at the Kigali Convention Centre from October 9-11, 2024, Gabriel Edgal, CEO of Oakwood Green Africa, emphasized the need for private sector ownership to enhance intra-African trade. Speaking on the panel themed “The AfCFTA is a Reality – Daring Intra-Africa Trade,” Edgal stressed the importance of intra-African trade as a solution to key issues such as inflation, currency fluctuations, and food insecurity, which have been exacerbated by global challenges like the Covid-19 pandemic and the war in Ukraine.
AfCFTA as a Catalyst for Economic Growth
Edgal highlighted the significant progress made by the AfCFTA Secretariat in breaking down trade barriers across the continent. The introduction of the Guided Trade Initiative, initially involving seven countries, demonstrated how customs procedures can be streamlined and how digital trade facilitation platforms like PAPSS can promote cross-border commerce. The launch of Phase II, which expands participation to 39 African nations, promises further advancements in seamless trade through standardized customs protocols and digital payment systems.
Oakwood Green Africa’s Role in Trade Facilitation
Edgal also discussed Oakwood Green Africa’s active role in promoting trade facilitation through initiatives such as the Africa Trade Roadshows. These events, in partnership with Afreximbank, aim to empower small and medium-sized enterprises (SMEs) across the continent to access new markets. Furthermore, Oakwood Green Africa’s collaboration with PAPSS has enabled businesses to bypass the reliance on third-party currencies, simplifying payments and fostering intra-African commerce.
As a vital platform for public and private sector stakeholders, Biashara Afrika 2024 has become instrumental in addressing operational gaps and providing practical solutions for trade facilitation. With a mission to unlock the potential of intra-African trade, the conference underscored the critical role of the private sector in driving this vision forward. Edgal reiterated that the success of AfCFTA depends on active participation from businesses across the continent to build sustainable, regional value chains.
