Nassau (Bahamas), June 21, 2024 – Africa needs to be competitive and efficient in its areas of strength.
Mustafa Chike-Obi, the Chairman of Fidelity Bank, made the observation during an interview with Kenneth Igbomor of CNBC Africa on sidelines of the just concluded Afreximbank’s annual meetings in Nassau, the Bahamas.
He called on African leaders to prioritise Africa’s strengths such as power supply through cohesive policies and agreements to drive economic growth.
Chike-Obi also called for focused and sharp leadership in harnessing the continent’s strengths to achieve prosperity.
He highlighted the need for Africa to identify areas of competitive advantage in producing goods and services efficiently to unlock its full potential.
Ckike-Obi said there was the need for coordinated banking policies to promote financial integration within Africa and with external partners, emphasizing the significance of streamlined banking services and transactions
He stressed the need for enhanced integration to facilitate the movement of goods and services across the continent, while emphasising the necessity to work collectively towards common goals.
The Chairman of Fidelity Bank highlighted Africa’s success stories in areas like sports demonstrated Africa’s potential when leveraging advantages and called for collaboration and seamless interaction among African nations and regions for sustainable development.
He also highlighted the African Continental Free Trade Area (AfCFTA) as a significant opportunity for economic advancement, but called for more practical implementation to ensure its effectiveness.
Chike-Obi underscored the importance of execution in translating policies into tangible outcomes for the African people.
Reflecting on the annual meetings and the discussions on trade and investment, Chike-Obi reiterated the critical importance of collaboration for Africa’s progress, emphasizing that unity and concerted efforts are essential for realizing the continent’s potential. (GBN)
