Finance Minister Mthuli Ncube has emphasized the importance of African nations coming together to foster economic growth.
Speaking at the 56th Session of the Economic Commission for Africa Conference of African ministers of Finance, Planning and Economic Development in Victoria Falls, Ncube urged countries to remove barriers hindering intra-African trade and industrial development.
He called for unity in strengthening regional trading blocs like the African Continental Free Trade Area (AfCFTA) to facilitate the free movement of goods and services across the continent. Ncube believes that by creating a single market, Africa can enhance its competitiveness globally, generate employment, and stimulate economic growth.
ALSO READ: Monica Mutsvangwa Calls for More Women Chiefs
With 47 out of 55 African countries already ratifying the AfCFTA, it is poised to become one of the largest free trade areas globally, potentially lifting millions out of poverty.
Ncube also stressed the need for domestic resource mobilization to fund the transition to inclusive green economies. He highlighted the challenges African countries face in accessing climate finance and called for reforms in the global financial architecture to better address Africa’s needs.
Antonio Pedro of the United Nations Economic Commission for Africa echoed Ncube’s sentiments, emphasizing the importance of developing regional value chains, enhancing energy access, and promoting digital connectivity to drive Africa’s economic transformation.
