Kingsley Moghalu to headline AfCFTA event in Cairo

Kingsley Moghalu, the newly appointed Chairman of the Advisory and Executive Boards for the Africa Private Sector Summit (APSS) and a former Deputy Governor of the Central Bank of Nigeria (CBN), will deliver the keynote address at the Joint African Continental Free Trade Agreement (AfCFTA) Private Sector Session at the Intra-African Trade Fair (IATF), which will take place in Cairo, Egypt, from November 9 to November 15, 2023.

Moghalu will speak on “The Private Sector Bill of Rights as a Companion Instrument to RECS and AfCFTA to Deliver the Africa We Want”.

The event will also focus on the Private Sector Bill of Rights (PSBoR) proposed by the APSS to improve the business environment in Africa.

In the press statement signed by Kingsley K.N. Asah, Board Secretary of APSS, the organisation said that when “it is fully implemented, the AfCFTA will boost intra-African trade by 52 percent, lift 30 million people out of poverty, and boost the continent’s GDP by USD 450 billion by 2035.”

The APSS seeks to engage with African leaders and governments to adopt these rights to promote trade and investment on the continent.

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It added that “these include the right to peace, security, and stability; effective legal systems that protect the sanctity of contracts; harmonised quality assurance standards in global trade; and a healthy consultative relationship between the public and private sectors to drive trade and investment across Africa.

“The Joint AfCFTA Private Sector Session at the IATF will underscore the need for an ecosystem approach to improving trade and economic performance on the African continent, including creating and scaling up value chains.”

The organisation said that the Joint AfCFTA Private Sector Session will bring together international trade officials, business leaders, diplomats, and political figures to discuss the importance of the Private Sector Bill of Rights.

Asah said, “The proposed rights aim to create a conducive environment for intra-African trade and investment by ensuring peace, security, effective legal systems, quality assurance standards, and collaborative relationships between the public and private sectors.”

Wamkele Mene, Secretary-General of the AfCFTA Secretariat; Yusuf Daya, Director of African Union/AfCFTA Relations and Trade Policy at Afreximbank; Ali Adji Mahamat Seid (Chad); and other notable figures will also deliver messages during the event.

The APSS, headquartered in Accra, Ghana, is dedicated to advancing intra-African trade and investment in alignment with the African Union’s Agenda 2063 and the AfCFTA vision.

APSS explained that “the Joint AfCFTA Private Sector Session will feature discussions on currency dynamics, banking systems, cross-border trade logistics, regulatory environments, and the role of the African Education Trust Fund (AETF) in preparing Africa for the Fourth Industrial Revolution. A diverse panel of experts will contribute their insights during the event.

“The APSS is committed to promoting trade and investment within Africa to realise the vision of the AfCFTA and the African Union’s Agenda 2063.”