Improve sub-regional integration to unlock agribusiness financing in Africa – Dr. Otokunor

The Director of the Presidential Initiative in Agriculture and Agribusiness at the Office of the President of Ghana, Dr. Peter Boamah Otokunor, has called for stronger sub-regional integration as a critical requirement for unlocking Africa’s agricultural potential

Speaking at the EU-Africa Chamber of Commerce’s flagship event on Financing Agribusiness in Africa held at the Parc des Expositions in Abidjan, Côte d’Ivoire, Dr. Otokunor bemoaned the fragmented regulatory environment that continues to inhibit intra-African trade, particularly in the agricultural sector’.

“Agriculture in Africa cannot thrive without a robust sub-regional integration framework. We speak of Africa as one bloc, yet the reality is that we are divided by borders, bureaucracy, and policies that stifle collaboration,” he stated

He recounted his personal experience of traveling by road from Ghana to Côte d’Ivoire for the event, describing the lengthy delays he encountered at the border.

“I spent over four hours at the border. If a government official has to endure such hurdles, how do we expect our farmers and agribusinesses to trade efficiently across borders, yet we have the African Continental Free Trade Area (AfCFTA), which aims to create a single market for goods and services across the continent,” he revealed

He emphasized the need for policymakers to rethink trade policies and create more enabling environments for agricultural trade

“We must design instruments that facilitate the formation of cooperatives and cross-border partnerships. Without that, we will keep discussing agriculture as potential, never as impact within our beloved continent,” he said.

The event witnessed a host of high-profile industry leaders, government officials, CEOs, and development partners. Prominent attendees included Mr. Inza Camara, Consul General of Côte d’Ivoire in New York and Delegate for Economic Promotion in the U.S., Canada, and Mexico; Dr. Fumilayo H. Makanjuola of the International Fund for Agricultural Development (IFAD); Mr. Joseph Nyemah, FAO Representative in Côte d’Ivoire; and Dr. Sidi Ould Tah, President of the Arab Bank for Economic Development in Africa (BADEA), among others

LINK: https://3news.com/news/improve-sub-regional-integration-to-unlock-agribusiness-financing-in-africa-dr-otokunor/