Ghana is taking part in the Intra-African Trade Fair, which is taking place in Durban, South Africa right now. The fair, which began on November 15, 2021, is centered on the African Continental Free Trade Area (AfCFTA), with a series of programs aimed at bringing together various African trade and economic partners.
There are more than 55 countries that have signed up to take part.
A panel discussion on "Accelerating the Automotive Sector in Africa" took place today. The discussion, moderated by CNN's Elena Giokos (Connecting Africa), included ministers of trade from Ghana, Rwanda, and South Africa, as well as the CEOs of Nissan, Toyota, and Volkswagen.
Ghana's Deputy Minister for Trade and Industry, Herbert Krapa, spoke at the event, emphasizing the importance of properly identifying all areas of the complicated automotive sector in order to develop a regional value chain.
Mr. Krapa had firsthand knowledge of the matter, as VW and Toyota already have auto assembly factories in Ghana, and he stated the multiple benefits the automotive sector might give to the African economy if the value chain is streamlined.
He presented a compelling case for other African countries to follow Ghana's lead in establishing a comprehensive automobile strategy that is underpinned by legislation. Mr. Krapa believes that this is the "surest method to harmonize our shared goal of integrated and inclusive continental growth."
IATF 2021, which runs through November 21, 2021, will provide a forum for African firms to showcase their products and services while also allowing investors to connect with one another.
In light of this, the organizers of the IATF 2021 held a roadshow in Ghana to raise awareness about the fair and its benefits for local businesses, during which Mr. Krapa described the fair as an indispensable avenue through which many people can gain access to markets and relevant information about the AfCFTA.
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