The African Continental Free Trade Area (AfCFTA) and Agribusiness
Redefining its role in world affairs
IA: With the emergence of a multipolar world order and geopolitical shifts, where do you believe Africa is going?
Lanre: One way or another, Africa’s role in world affairs – be it economic, political, or social – is set to take on more prominence. From its demographics, to growth potential, and vast natural wealth, the continent is key to addressing the world’s most pressing problems. This means greater interest, and engagement from the international community.
IA: What is the opportunity that exists for Africa at this present moment?
Lanre: Africa has an unprecedented opportunity to redefine its role in world affairs, away from the periphery to which it has unjustly been confined for far too long, to being a central actor in shaping global affairs.
IA: What are the implications of a new emerging world order for investment on the continent?
Lanre: This is a question of opportunity and risk. The opportunity is that African economies can leverage a rapidly changing global order to drive their development, through prudent and forward-looking policies. The risk is, once again, being the subject of great power conflict, as we saw during the cold war. Avoiding the latter, and realising the former, will require concerted and disciplined efforts to build a unified African approach to global affairs.
IA: What do you believe are the opportunities this presents?
Lanre: The world needs Africa, that is an undeniable reality. Without the continent, key challenges such as climate change, food security, or the green transition cannot meaningfully be tackled. This, in principle, gives the continent significant leverage to elevate its needs and priorities on the global stage.
IA: What is needed to realise the potential of this opportunity?
Lanre: Above all, Africa needs to unite. Collectively, the continent can be an economic, political, and social superpower. However, this will require a step change in cooperation across Africa, which needs to be led by a meaningful commitment to the integration under the AfCFTA, solidarity beyond words, and a relentless commitment to delivering on the vast potential for equitable development for all citizens of Africa.
Lanre Akinola works with All Things Africa. He has experience as head of content at Norwegian African Business Association NABA He is the former editor of This Is Africa, a Financial Times publication, and African Business Magazine. He has worked with the Bloomberg Media Initiative Africa, and is a 2014 Desmond Tutu Leadership Fellow.
