BUSINESS leaders, investors and policymakers have recommended for more reforms to accelerate African economic integration.

They raised their voices at the just ended seventh edition of the Africa CEO Forum that took place in Kigali, Rwanda.

The Forum that is the continent’s largest international meeting of Africa’s private sector attracted more than 1,800 CEOs from top African brands, international investors, experts and highlevel policy makers from the continent and beyond.

The participants came from 43 African countries and 26 international countries. The forum that was opened by Rwandan President, Mr Paul Kagame, was also attended by the newly elected President of the Democratic Republic of Congo, Mr Felix Tshisekedi, Ethiopian President, Ms Sahle-Work Zewde as well as Togolese President, Mr Faure Gnassingbé.

Organised by Jeune Afrique Media Group and Rainbow Unlimited and co-hosted by the International Finance Corporation (IFC), the twoday forum was themed around using regional integration to drive private sector growth.

In his opening remarks, President Kagame referred to the forum as a timely platform to discuss mechanisms on how to make the most of the Continental Free Trade Area (CFTA) treaty.

“Open responsiveness and accountable governments is critical in driving the continent’s economic integration agenda. Therefore, the private sector should notice what needs to be changed, (and) share it with those in the public sector to be able to move forward,” he said, adding that implementation of the recently signed treaty especially at national level will require constant dialogue and flexibility from both the public and the private sector.

“We don’t have any time to waste to do what is necessary,” he added, making the case for regional integration in order to transform the wellbeing of Africans.

The Forum is, according to experts, an opportunity for Africa to discuss the implementation of the CFTA – which is billed as a potential driver for private sector growth. It is also yet another opportunity for participants to discuss how to mobilize the private sector to participate in the funding of cross-border infrastructure and logistical projects.

Among other topics, it seeks to draw insights from the East African Community – considered the most successful regional model and what must a united Africa do to better protect its interests and industries.

The forum comes in the wake of a weak intra-continental trade, hence the need for Africa’s most influential business leaders to raise their voice on changing status quo.

President of Africa CEO Forum and Managing Director of Jeune Afrique Media Group, Mr Amir Ben Yahmed said the economic integration is not an opportunity but rather a necessity that cannot happen without the private sector.

“Putting leaders at the forefront of economic integration is what the CEO Forum is all about and what Africa should be doing to achieve economic excellence,” he said, adding that Continental Free Trade Area | African Union (CFTA) is important. Mr Philippe Le Houerou, the IFC CEO said that the private sector has a role to play in providing governments with ingredients needed to make more business reforms.

“Regional integrations hold great promises. Therefore, increasing Intra-Africa trade while eliminating nontariff barriers is critical for Africa’s economic success. Africa needs an estimated 1.7 million new jobs every month.

Therefore, the only way to achieve this is to have a thriving private sector,” said Mr Le Houerou. In a panel of discussion with President Kagame, Abdulsamad Rabiu, Naguib Sawiris, Carlos Lopes, Philippe Le Houerou and President Zewde encouraged the private sector to improve productivity and performance and focus on technological innovation.

Source: Daily News

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