President Akufo-Addo has issued an invitation to Africans living in the diaspora, urging them to redirect their investment portfolios towards the continent. He emphasized that with the establishment of the Africa Continental Free Trade Area (AfCFTA), the stage is now set for the continent to attract their investments, facilitating its industrial development and transformation.

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During his address at the inaugural Global Africa Forum (GAF), which was jointly organized by the Africa Prosperity Network (APN) and the Africa-America Institute (AAI) on Thursday, September 21, 2023, on the sidelines of the 78th UN General Assembly in New York City, the theme of the event underscored this pivotal message, “Mobilising Global Africa Investment to Boost Intra-African Trade,” President Akufo-Addo said it is time for Africans to

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spend their monies on the continent to make her the wealthy place it ought to be.“Like the vision of our forebears, the AfCFTA sets the stage for Africa’s industrialization and transformation. What is required now is for our respective governments and businesses to show bold leadership. We need coherent and complimentary strategic actions by governments and businesses.

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“The right mix of policies and strategies for exports, value addition to raw commodities and a greater sense of purpose to ensure a robust intra-Africa trade, to drive agricultural growth, economic diversification and the much-needed industrialization of the continent” President Akufo-Addo said.“As the saying goes, nothing succeeds as much as success.

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If we work at it, if we stop being beggars and spend Africa’s money inside the continent, Africa would not have to ask for respect from anyone, we will get the respect we deserve.“Twenty years ago, thirty years ago, China was not where it is today. China does not ask anyone for respect today, she does not need to. Let us make our continent the joyful and prosperous place it should be and the respect will follow” Akufo-Addo added.

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Concrete areas of investmentWamkele Mene, the Secretary-General of the Africa Continental Free Trade Area (AfCFTA) secretariat, addressed the gathering by outlining the four major areas of interest identified by AfCFTA for potential investors to explore on the continent.

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These areas encompass the manufacturing sector, the pharmaceutical industry, the agriculture sector, and the newly established AfCFTA Adjustment Fund, which has a value of one billion dollars and aims to support investments in productive sectors.“The fund is not intended for budget support. It is intended for productive sector investments.

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What we envisage is that you as the diaspora with global capital, will see the adjustment fund as a vehicle for channeling your investment and to see returns on your investments,” Wamkele Mene said.“These are the four areas that we have identified which are concrete, which we believe will be long lasting and impactful and will create job opportunities in Africa so that millions of young Africans stop being buried deep in the Mediterranean.

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We can create jobs for them at home on the African continent and that is why I think this dialogue is so very important” he added.In attendanceIn addition to President Akufo-Addo, the forum was graced by the presence of several other dignitaries, including Professor Benedict Oramah, who serves as the President and Chairman of the Board of Directors of Afreximbank, and H.E. Albert Muchanga, the AUC Commissioner for Trade and Industry.

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The event also saw the participation of esteemed individuals such as Dr. Amany Asfour, who holds the position of President of the Africa Business Council, Ms. Ahunna Eziakonwa, Assistant Secretary-General UNDP-RBA, Derrick Johnson, the President of NCAAP, Mr. Julius Mwale, the President and CEO of SBA Technologies Inc, along with numerous other prominent leaders in the Global Africa business community.

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