In a bold call for action, Faure Gnassingbé, Chair of the Economic Community of West African States (ECOWAS), urged African governments and business leaders to move beyond declarations and accelerate the implementation of the African Continental Free Trade Area (AfCFTA) during the third edition of Biashara Afrika in Lomé.
The three-day forum, co-hosted by the Togolese government and the AfCFTA Secretariat, brought together policymakers, investors, entrepreneurs, and development partners from across the continent to discuss strategies for boosting intra-African trade and investment.
From Vision to Action: Africa’s Economic Transformation
Faure Gnassingbé emphasized that the continent now has the tools to turn its economic potential into tangible benefits for its people. « The era of vision must give way to an era of measurable results, » he declared, stressing the urgent need for concrete policies, strategic investments, and streamlined trade processes.
The AfCFTA provides Africa with a unified legal framework, a vast consumer market, abundant natural resources, and a young, entrepreneurial population. However, Gnassingbé highlighted critical bottlenecks: non-tariff trade barriers, underdeveloped infrastructure, limited financing options, and the underrepresentation of small and medium-sized enterprises (SMEs) in cross-border commerce.
Togo as a Model of Economic Integration
The Togolese leader positioned his country as a frontrunner in Africa’s economic integration journey. He pointed to Lomé’s deep-water port, one of West Africa’s most strategic logistics hubs, as a key asset for facilitating trade. Additionally, he underscored recent reforms aimed at improving the business environment and attracting foreign direct investment.
« Our goal is not just to participate in Africa’s growth but to lead by example, » he stated, urging other nations to adopt similar reforms and policies that enhance competitiveness and regional cohesion.
Challenges and Opportunities Ahead
Despite progress, significant hurdles remain. Gnassingbé acknowledged that while tariffs have been reduced under the AfCFTA, non-tariff barriers such as customs inefficiencies, regulatory inconsistencies, and bureaucratic red tape continue to stifle trade. Financial constraints and limited access to credit further hinder SMEs, which form the backbone of most African economies.
The Biashara Afrika 2026 forum aims to address these challenges by fostering public-private partnerships, mobilizing investment, and identifying scalable solutions to unlock Africa’s economic potential. Participants are expected to leave with actionable strategies to deepen regional integration and drive inclusive, sustainable growth.
