The Ghana National Chamber of Commerce and Industry (GNCCI) is partnering with TradeMark Africa (TMA) to eliminate trade barriers and strengthen Ghana’s competitiveness under the African Continental Free Trade Area (AfCFTA).
Dr. Mrs. Emelia Assiakwa, First Vice-President of GNCCI, highlighted the pressing need to address persistent challenges such as high trade costs, fragmented supply chains, inconsistent regulatory frameworks, and limited access to finance.
“These challenges are significant, but they are not insurmountable, by working together, we can reduce barriers, digitize trade processes, and accelerate exports to fully harness the benefits of AfCFTA,” she said.
Dr. Assiakwa expressed concern about the low level of intra-African trade, which stands at just 15% compared to 50% in Asia. She also emphasized the need for value addition, as Ghana continues to rely heavily on exporting raw materials and importing finished goods.
“If we want to maximize AfCFTA’s $3.4 trillion market potential, Ghanaian businesses must target regional markets, integrate into supply chains, and add value to our raw materials,” she urged.
However, some of the challenges that need to be addressed include efficient logistics, as it often takes longer to move goods within Africa than to ship them overseas. High logistics costs and bureaucratic customs processes were also identified as significant barriers to trade.
Mr. Hailemariam Desalegn Boshe, TMA Board Chair and former Prime Minister of Ethiopia emphasized the crucial role of the private sector in turning trade policies into economic growth.
He said governments may negotiate trade agreements, but it is businesses that drive implementation by scaling operations, integrating regional supply chains, and pushing for regulatory harmonization.
He highlighted the success of digital customs solutions in East Africa, which have cut clearance times and lowered logistics costs.
Similarly, such innovations are now being introduced in Ghana to facilitate trade and increase export readiness.
Meanwhile, stakeholders bemoaned that Africa’s logistics costs remained among the highest in the world, making trade expensive and uncompetitive. They also called for the adoption of the AfCFTA Digital Trade Protocol to streamline customs processes and reduce delays.
They further urged a more regional payment system, tailored trade finance solutions, and investments in industrial hubs to enhance trade efficiency.
