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0 News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://newsghana.com.gh/ecowas-enhances-private-sector-capacity-for-afcfta-implementation-in-regional-workshop/
The Economic Community of West African States (ECOWAS) has concluded a three-day workshop aimed at equipping private sector stakeholders with the tools to leverage opportunities under the African Continental Free Trade Area (AfCFTA).
Held in Accra from April 2–4, 2025, the event, organized by ECOWAS and the Federation of West Africa Employers’ Organizations (FOPAO), drew participants from across the region to deepen understanding of the trade pact’s protocols, operational tools, and implementation strategies.
Speaking on behalf of ECOWAS Commissioner for Economic Affairs Massandjé Touré-Litse, Trade Director Kolawole Sofola emphasized the bloc’s commitment to regional integration. “As ECOWAS marks its 50th anniversary, the private sector’s role in driving intra-African trade and economic growth cannot be overstated,” he said. The workshop aligns with broader efforts to position West African businesses to capitalize on the AfCFTA’s single market, which aims to boost intra-continental trade from 17% to 52% by 2035.
FOPAO Executive Secretary Ousseine Diallo urged attendees to translate insights into actionable strategies for their national private sectors. “This knowledge must cascade into effective implementation at the grassroots,” he stated. Mohammed Ali, representing AfCFTA Secretary-General Wamkele Mene, outlined the agreement’s objectives, including market expansion, competitiveness, and economic transformation. He stressed the critical role of regional bodies like ECOWAS in harmonizing policies and supporting member states.
Sessions delved into the AfCFTA’s legal frameworks, dispute-resolution mechanisms, and ECOWAS’s tailored implementation roadmap. Participants also explored sector-specific opportunities in agriculture, manufacturing, and services, alongside discussions on overcoming non-tariff barriers and streamlining cross-border logistics.
The workshop coincides with mounting challenges in AfCFTA execution, including uneven regulatory adoption and infrastructure gaps. Analysts note that while the pact offers access to a $3.4 trillion market, many West African SMEs lack awareness of its provisions or face financing hurdles. ECOWAS officials acknowledged these issues, pledging to amplify technical assistance and stakeholder collaboration.
In a related development, Professor Nazifi Abdullahi Darma commended Professor Adeola Adenikinju’s efforts to strengthen the Nigerian Economic Summit (NES), highlighting the need for robust private-sector engagement in policy formulation. Though not directly tied to the workshop, the remarks underscore broader calls for institutional partnerships to advance AfCFTA goals.
As the region navigates post-pandemic recovery and global economic headwinds, ECOWAS’s initiative signals a proactive approach to bridging capacity gaps. Success, however, hinges on sustained dialogue, targeted investment in trade infrastructure, and inclusive policies that empower SMEs—a priority as West Africa seeks to transform its economic potential into tangible gains.
News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://newsghana.com.gh/ecowas-enhances-private-sector-capacity-for-afcfta-implementation-in-regional-workshop/
