Equity Bank CEO Dr. James Mwangi has urged governments to focus on opening up real market, which is the mass market and which today is not serviceable.
He said the continent cannot have the African Continental Free Trade Area (AfCFTA) without logistics.
“Given the massiveness of the continent and the level of physical infrastructure, air transport would be the most versatile and most agile form of carrying out logistics.” Said Dr. Mwangi.
Speaking during the third Kenya International Investment Conference (KIICO 2023) at Safari Park Hotel, Nairobi, Dr. Mwangi said for Africans to unlock the African Continental Free Trade Area (AfCFTA), there is need to have massive investments especially in markets for exports adding that Kenya ticks the bill because of its positioning.
Similarly he said Kenya is making strides in its policy development to help the continent realise the aspirations of the AfCFTA.
Dr. Mwangi said that the countries technological advancement and a vibrant services sector is a major boost for Kenya as the main driver of the realisation of AfCFTA.
While noting that Kenya is in good stead to be the gateway into Africa, Mwangi said that Africa need to integrate well into the global trade arena hence requires a gateway that provides the opportunity as a society that gives everybody a chance.
“We are part of a global trade circuit and as a result we must bear in mind the need to interlink with global capital, global investment and global trade.” Said Dr. Mwangi.