An African expert partaking in the 29th annual meetings of the Africa Export-Import Bank (Afreximbank) that kicked off in the New Administrative Capital Thursday said Africa should mobilize efforts to bring into effect President Abdel Fattah El Sisi’s proposed visions on providing necessary funds to carry out infrastructure projects in Africa, with a view to realizing aspired progress.
Patrick Utomi, head of the Pan-African-Private Sector Trade and Investment Committee (PAFTRAC) at Afreximbank addressed a session held Friday on entrepreneurship and role of African youth, especially in light of the African Continental Free Trade Area (AfCFTA) on the sidelines of the Afreximbank meetings.
He hilighted President Sisi’s word to the gathering as he pointed out the key to realizing development in Africa and providing essential finance for infrastructure projects covering various sectors, as well as for luring investments in both the infrastructure and IT domains.
The implementation of the AfCFTA will have a positive effect on levels of intra-African trade, Utomi said.
Meantime, he shed light on President Sisi’s call accentuating the need for establishing a pan-African 12,000 km road linking Egypt and North Africa and reaching South Africa, terming President’s Sisi’s proposal as a national venture to the continent, saying it would be of great benefit to the continent and would highly contribute to realizing integrity in Africa.
The Afreximbank Annual Meetings is being held in the New Administrative Capital of the Arab Republic of Egypt from until 18 June 2022. The meetings are held under the theme “Realising the AfCFTA Potential in the post COVID-19 Era—Leveraging the power of the youth” and include Advisory Group Meetings and the Annual General Meeting of Shareholders, complemented by seminars and plenaries.
The PAFTRAC head also underscored the role of youths in development, urging governments and institutions to provide essential funds for training African youth, along with helping them bring into effect all aspired projects
The Pan-African Private Sector Trade and Investment Committee (PAFTRAC) unites African leaders from the private sector and provides a unique advocacy platform bringing together the African private sector and African policymakers to support extra and intra-African trade, investment and pan-African enterprise.
Source: State Information Service Egypt