Africa’s fragmented markets are limiting the ability of businesses to expand and create the jobs needed for its growing population, Senyo Hosi has said, calling for stronger use of continental integration to widen opportunities for firms and workers.
Hosi, Founder and Executive Chairman of Kleeve and Tove Ltd, said the African Continental Free Trade Area (AfCFTA) offers young people and businesses a market of about 1.3 billion people across 55 countries, with a combined GDP of roughly $3.4 trillion.
He urged young Africans to view the continental market not simply as a trade arrangement, but as an opportunity to build businesses capable of serving customers beyond their home countries.
But he said the potential of integration would depend on whether governments address the practical barriers that make cross-border business difficult.
That includes improving customs procedures, harmonising standards, strengthening transport and logistics infrastructure, expanding access to finance and making African businesses more competitive, he said.
Hosi argued that larger, more integrated markets are essential if African firms are to move beyond small-scale operations and develop the capacity to invest, produce and employ at scale.
For young people entering increasingly difficult labour markets, he said, the significance of continental integration lies in creating a larger economic space in which businesses can grow and generate productive employment.
The goal, he suggested, should not be simply to have African countries trade more with one another, but to use integration to support stronger African enterprises, greater value addition and a more competitive continental economy.
