The former Lagos State Attorney General and Commissioner of Justice, Olasupo Shasore has said African Nations must work towards the improvement of business practices in order to enjoy the positives of Africa Continent Free Trade Area ( AfCFTA).
Shasore made this known during the Commonwealth Trade and Investment Summit organized by Commonwealth Enterprise and investment council (CWEIC) in Lagos state.
Shasore said with the right implementation of AfCFTA and upgrade in building local resources, intra-African exports will be boosted by a remarkable percentage in the coming years.
Speaking on the modern financial services which fuels the liberation of trade and services across the continent, the legal luminary called on stakeholders in the public and private sectors to take advantage of the opportunities that will emerge in the financial sector as Africa will definitely take a lead role in the global market, provided AfCFTA is well implemented.
“As we know, AfCFTA will create a single market of more than one billion people, with a gross domestic product of more than USD3 trillion, breaking down existing barriers to the movement of goods, services, people, capital and ideas across the continent.
So we must combine our collective strength as public and private sector stakeholders to achieve self-sustainability for Africa, ensuring excellent business practices that will create a greater incentive for the development of infrastructure, introducing more robust industries.”
Other stakeholders from across Africa who expressed their delight at the prosperity AfCFTA presents to the continent, said the vaccine-related challenges faced in Africa can be tackled if every nation steps up their game in building a free and sustainable Africa market.
Present at the summit was Jim Ovia, Chairman of Zenith Bank, Hon. Elizabeth Truss, Secretary of State for International Trade in UK, Folonrunsho Alakija Vice Chairman of Famfa Oil, Senator Ian Gorst, the External Relations Minister, Government of Jersey and other government and senior business leaders across the world.
