The Executive Chairman of AB & David Africa, a pan-African law firm, David Ofosu-Dorte says over the next decade the implementation of the continental free trade agreement will shift power from politicians to trade.
Speaking on Citi TV’s current affairs programme, Point of View, Mr. Ofosu-Dorte explained that the continent’s development is currently largely driven by politicians but that will soon be replaced by free trade.
He maintained that over the years, politician-led initiatives have not yielded the best of results for the continent.
“The more you take the control away from politicians the more Africa will develop faster. So, if you look at Africa from a traditional point that we don’t celebrate ideas, yes, but if you do free trade, and people realize that I can upscale and I can sell my goods anywhere and there is a payment platform and there is a way I can export, the innovation and the ideas need not wait for approval from government, people will just do it,” he added.
He told host of the show, Bernard Avle that, very often, governments are impediments.
“They are just too slow. And in terms of removing systems and all the rest. Systems that prevent us from trading, they are too slow in doing that. This is why I believe in the AFCTA as one of the most significant things that can make a significant change…” he added.
Mr. Ofosu-Dorte was speaking ahead of this year’s Crystal Ball Africa conference that provides a forum for business executives, investors, professionals, regulators and policymakers to discuss trends and policy changes that will impact the private sector in the New Year.
The theme for the event which comes on January 16, 2020, will be “The AfCFTA and Business without Borders – The Game Changer”. With the AfCFTA being the world’s largest free trade area, businesses in Africa are set to witness the beginning of game-changing opportunities from mid-2020.
This year over 200 business executives, policy /decision-makers from across Africa and the world including Ghana, Nigeria, Zambia, Uganda, Zimbabwe, Sierra Leone, the UK, China and the United States and representatives of a key international organization are expected to be in attendance.