Mbabane- Africa is pushing to increase trade among its own countries as the continent seeks to turn the African Continental Free Trade Area (AfCFTA) into a platform that delivers more business and investment opportunities.
Intra-African trade surpassed US$220 billion in 2024, but African leaders and economic stakeholders are now looking at how the continent can build stronger production networks and regional value chains around this trade.
The issue will come under the spotlight in Accra, Ghana, next month when between 600 and 900 African leaders, policymakers, investors, businesspeople, creatives and members of the diaspora attend the 2026 Elevate Africa Convening.
The two-day gathering, scheduled for October 28 and 29, will focus on how Africa can move from having an agreement that facilitates continental trade to having functioning markets and production networks that create tangible opportunities for businesses.
This comes after a World Bank report released in August called for Africa to shift its focus from trade links towards regional production hubs.The AfCFTA Secretariat has also announced a US$5.17 billion Digital Trade Corridor aimed at strengthening digital infrastructure to support intra-African commerce.
The developments point to a broader push to make it easier for African businesses to trade, invest and participate in regional value chains.Trade finance, digital trade, intra-African investment and resource governance will be among the issues discussed under the Trade Governance and Economic Integration pillar of the Convening.
The organizers say discussions will also examine how Africa can retain more of the value generated from its resources, production and markets within the continent.Accra is expected to provide an important backdrop to the discussions as the city hosts the AfCFTA Secretariat and Ghana continues to position itself as a centre for Africa’s trade integration agenda.
The meeting will also consider the economic contribution of Africa’s creative industries, with film, music, fashion, gaming and digital content expected to be discussed in relation to financing, intellectual property, infrastructure and access to international markets.
The role of the African diaspora in driving investment and economic development will also come under discussion, with delegates expected to look beyond remittances towards diaspora capital, skills and international networks.
Joy Godwin, Elevate Africa’s Convening Project Lead, said the continent was entering a new phase in its economic development.“Africa is moving into a new phase,” Godwin said.
She said the conversation was increasingly shifting from what Africa could become to how the continent could build the systems, institutions and partnerships needed to make that future possible. The Convening is expected to result in the Accra Declaration, as well as strategic partnerships, investment commitments and collaborations across different sectors.
The event is being hosted under the leadership of Their Royal Majesties Ogiamẹ Atuwatsé III, CFR, and Olorì Atuwatsé III of the Warri Kingdom.
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