In response to recent projections by the World Trade Organisation (WTO), the Chief Executive Officer (CEO) of Denca Global Courier (DGC Express), Dr Queen Okpa, believed that the future of Africa’s exports is bright if the right steps are taken.

Following the WTO forecast that African exports would grow by 5.3 per cent in 2024, Okpa stated: “This is a pivotal moment for the continent’s economy,” stressing that sustaining the growth would require strategic initiatives to address challenges in the global trade landscape.
[ad]
She said: “The WTO’s outlook on Africa’s exports is encouraging, but the real challenge is in ensuring that this growth translates into meaningful economic uplift across the continent.

“The gap between rising exports and declining imports, as highlighted in the report, indicates that increased export activity has not fully translated into higher income and consumption for African nations. To change this narrative, we need to focus on value addition, innovation and diversification in our export portfolio.”

Pointing out that while African exports are projected to exceed pre-pandemic levels, she noted the five per cent decline in imports between 2019 and 2023 as a worrying signal.

According to her, higher energy and commodity prices continue to impede import growth, underlining the need for African economies to move away from dependence on raw material exports and focus on creating value-added products.

Establishing a connection between Africa’s potential and the upcoming Export Business Roundtable (EBR) 2024, which aimed to provide African SMEs with a platform for networking, collaboration and scaling their operations, she said: “EBR 2024 is a unique opportunity for Nigerian exporters to engage with key international players.

“In addition to partnerships with Indian Small and Medium-sized Enterprises (SMEs), we are welcoming representatives from major markets such as the United States (U.S.), United Kingdom (UK) and Canada. These include key players and off-takers of Made-in-Nigeria products, which will help to diversify and expand the reach of African exports.”

The WTO report also highlighted potential global risks, such as geopolitical conflicts, climate change impact and trade disruptions in crucial areas like the Suez Canal, adding that these risks could hinder Africa’s export growth.

But Okpa believes platforms like the EBR 2024 will help equip African businesses to navigate the uncertainties.

“By fostering relationships with international markets and enhancing our export strategies, we can mitigate some of the global trade risks outlined by the WTO and ensure that African businesses are well-positioned to thrive,” she said.
[ad]