Opinion - With a population of 1.2 billion people, the African continent should prioritize intra-trade and investments amongst its people and countries, Speaker of the House of Representatives, J. Fonati Koffa, has urged African leaders and other stakeholders on the continent.
With a population of 1.2 billion people, the African continent should prioritize intra-trade and investments amongst its people and countries, Speaker of the House of Representatives, J. Fonati Koffa, has urged African leaders and other stakeholders on the continent.
"We need a borderless Africa, single currency and technology to build RESILIENT AFRICAN ECONOMIES, economies that can anticipate crisis, adjust and learn from those crises while maintaining direction and momentum even if we have to change routes and do new things or old things in different ways," he said.
"The bigger economies like Nigeria and Ivory Coast and Ghana could not meet the inflation requirement, Nigeria, which will account for 65 percent of this conversion, has yet to own it and take leadership of it, and Francophone West Africa is still unwilling to relinquish its dependence of a colonial-era monetary system," he said."But we must say a single African currency is indispensable in building resilient African economies.
Koffa said,"We must continue our move towards open borders. The facilitation of the free movement of goods and services across the continent cannot be overemphasized and even ECOWAS is experiencing the benefits of that. We must turn to each other, trade with each other, and develop an African bond that makes us closer, in fact, and not just in theory. Open borders will do that."
"I speak about my relationship with technology because technology is central to building resilient economies on the continent. Technology allows us to connect without roads, ports, and bridges, this means even without building a railway or paving a road from Cape Town to Cairo, an Egyptian can sell a service to someone in Johannesburg, accept payment without leaving their living room," he noted.
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