African’s wealthiest person, Aliko Dangote, said the continent’s business leaders can accelerate the economic integration needed for growth faster than other regions of the world.
These business leaders are capable of overcoming their differences and speak with one voice to foster reforms, the Nigerian billionaire said late Saturday in Nigeria’s Lagos at the inaugural meeting of the Africa Champions Club, an initiative of business and manufacturing stakeholders on the continent.
“We do have to change the dynamics in a way that is more favorable to Africa and Africans, because we owe a duty toward our communities and the next generation of young men and women who now want to become pan-African entrepreneurs,” he told his audience.
Earlier, Nigeria’s Vice President Yemi Osinbajo called for greater integration of African economies to enable the continent to develop free trade among AU member nations.
He said regional integration was a necessary requirement for the continent’s development but had remained at a very low level.
“We still have one of the lowest trade integration levels under 20 percent while Asia is at 40 percent and European integration is very much further ahead at about 60 percent,” the VP said.
“The fact remains that other regions play as a bloc but Africa is still largely splintered into several economies and the ease of doing business across the region remains a significant challenge,” he added. Enditem