Ghana: Standard Chartered pledges to lead private sector engagement in AfCFTA

By InstinctBusiness Aug 16, 2024 0

Standard Chartered is poised to play a pivotal role in driving private sector engagement with the African Continental Free Trade Area (AfCFTA), drawing on its rich history and extensive network.

During a recent Business Roundtable in Ghana, Kariuki Ngari, Standard Chartered’s Chief Executive for Africa, highlighted the bank’s dedication to supporting the AfCFTA initiative.

Moreover, the bank’s focus on sustainability aligns with the broader goals of AfCFTA. “Creating a sustainable basis for our future growth is a critical issue for our continent. We believe that no company can thrive with economic or systemic inequalities. This is why sustainability is a strategic priority for our Group,” the Africa CEO emphasised, indicating the bank’s commitment to balanced economic development.

The AfCFTA, which aims to create a single market for goods and services across 54 African countries, has been hailed as a game-changer for the continent’s economic development. However, its success hinges on robust private-sector participation.

Mohamed Ali, Director of Trade in Goods and Competition at the AfCFTA Secretariat, corroborated this view, stressing the need for more private sector involvement in AfCFTA.

Mr. Ali added, “The private sector is the engine of growth, and their full engagement is crucial for the success of this continental initiative.”