By Buertey Francis BORYOR
The Secretary-General of the International Chamber of Commerce (ICC) Ghana, Mr. Emmanuel Doni-Kwame has described the Abidjan-Lagos Corridor as a key driver of West Africa’s future trade growth over the next 10 to 20 years.
He therefore stressed the need for government to focus on developing this corridor to tap into its full potential for trade and economic growth.
“The most lucrative market in the next 10 to 20 years is likely to be the Abidjan-Lagos Corridor. Any businessman looking to the future will see that this is a market that needs to be developed. Ghana, along with its neighbouring countries, should work together to improve the corridor’s trade capacity. The focus should be on developing this market because it is the future,” he elaborated.
The ICC Secretary General made this projection while speaking on Eye on Port, a program by the Ghana Ports and Harbours Authority (GPHA).
He however pointed out that, a major challenge to realising the full potential of this market is the lack infrastructure, particularly roads. While countries like Nigeria and Benin have made progress on improving their parts of the corridor, he said Ghana is still lagging behind.
“Nigeria has done its part, and Benin has almost completed its section. But in Ghana, we are still struggling to see where we are even going to fix the road,” he said.
In addition to road improvements, Doni-Kwame suggested that more attention should be given to sea transport, which he believes could be an important solution for improving trade along the Corridor. He explained that sea transport requires less investment in infrastructure compared to roads.
“With sea transport, you do not need to build anything. All you need are vessels to move goods,” he said.
Impact of Sahel exit from ECOWAS on trade
On the topic of some Sahel countries leaving the Economic Community of West African States (ECOWAS), Doni-Kwame called for a clear separation between politics and trade, arguing that that trade should continue smoothly, regardless of political changes.
“This is the democratic community of West African states, but when it comes to trade, it is about the economy. Politics should not stop business from flowing between countries,” he said.
Regarding this he called for continued trade relations between ECOWAS and the Sahel region, ensuring that business connections are maintained despite political differences.
Meanwhile, Chair of the Commission on Digital Economy at ICC Ghana, Mr. Anthony Angmor, speaking on the program also said, investing in maritime transport could help reduce congestion on roads and improve the overall efficiency of trade in the region.
Additionally, he highlighted the country’s growing digital economy, saying it aligns with its broader trade facilitation goals.
Furthermore, he lauded the nation for taking the lead in the continent’s trade integration by hosting the African Continental Free Trade Area (AfCFTA) Secretariat- highlighting the Pan-African Payment and Settlement System (PAPS), developed by Afreximbank, as a step forward in making trade easier across the continent.
“We now have PAPS, the African Payment System, which is an important tool for digital trade integration. Afreximbank is also creating a platform that will help businesses avoid barriers to market access,” he added.
According to him, such digital platforms would allow businesses to display their products online and manage payments, reducing the need for face-to-face transactions.
