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Project Management Institute (PMI) has urged the African Union (AU) to accelerate infrastructure development that would promote intra-continental trade among the member states.
This charge was contained in a statement, yesterday, in Lagos yesterday.
Managing Director, sub-Saharan Africa, PMI, George Asamani, stated “Infrastructure is among the key elements essential to making the African Continental Free Trade Area (AfCFTA) work effectively.”
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He said: “Developing and improving power, transport, and communications infrastructure and establishing efficient road, air, port, and rail networks are crucial for enabling seamless trade facilitation and promoting economic integration.”
This year marks the diamond jubilee of the Organisation of African Unity (OAU), now the African Union, the continental body representing 55-member states that make up Africa. At the heart of this year’s celebration is the vision and implementation of the African Continental Free Trade Area (AfCFTA). The AU theme for 2023 is Acceleration of AfCFTA Implementation.
Adopting AfCFTA is expected to enhance mobility bringing transformative change and tremendous economic and business opportunities. According to the World Economic Forum, AfCFTA will provide investors unparalleled access to a population of 1.7 billion people and consumer spending reaching $6.7b by 2030.
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