ADDIS ABABA, Feb. 19 (AGCNewsNet) – The Africa Business Forum concluded with a strong push for activating regional value chains to drive Africa’s economic transformation, highlighting the African Continental Free Trade Area (AfCFTA) as a key mechanism for industrialization and trade expansion.

The event, held at the Economic Commission for Africa’s (ECA) Africa Hall, brought together heads of state, policymakers, private sector leaders, and economic experts to discuss strategies for unlocking the continent’s economic potential.

In his closing remarks, Claver Gatete, Under-Secretary-General and Executive Secretary of the ECA, emphasized the need to accelerate AfCFTA implementation to strengthen value chains in key sectors, including pharmaceuticals, agriculture, and industry.

“We must accelerate the implementation of the AfCFTA to establish these value chains, particularly in pharmaceuticals, agriculture, and industrial sectors,” Gatete said.

He also stressed the need for greater collaboration among African nations to address high intra-African trade costs, which remain higher than those of trade with external markets. “To build a competitive Africa, we need to reduce these barriers, improve infrastructure, and invest in value-added production,” he added.

The Forum highlighted key initiatives aimed at transforming Africa’s economy, including the Africa Electric Vehicle project linking the Democratic Republic of the Congo and Zambia. The project, according to Gatete, showcases how developing economic zones, improving transport infrastructure, and attracting private sector investment can create sustainable growth opportunities.

Investment in Africa’s industrial sector was a major theme at the Forum. Gatete pointed out that Africa’s debt has reached $1.21 trillion, underscoring the urgency of bringing together debt partners from the Paris Club, non-Paris Club, and the private sector to find sustainable solutions to the continent’s financial challenges.

“The AfCFTA is an essential tool to drive down costs and improve Africa’s competitiveness globally,” Gatete said.

The Forum featured a high-profile Presidential Dialogue with leaders including Botswana’s President Duma Gideon Boko, Ghana’s former President John Dramani Mahama, and Gabon’s Deputy Prime Minister Alexandre Barro Chambrier. They underscored the need for stronger pan-African cooperation to activate regional value chains. Other panels focused on financing, trade facilitation, and technological innovation as crucial steps toward bridging investment gaps.

Gatete concluded by calling on African governments and businesses to challenge external perceptions about African products. “We need to change the narratives about Africa and show we can make globally competitive final products. Products coming from Africa are neither fake nor unfinished—they are a testament to our capabilities and our future,” he said.

The Forum ended with a renewed commitment to regional integration, industrialization, and value chain development, reinforcing Africa’s ambition to transform its economic landscape through AfCFTA and strategic partnerships.

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