Only in­creased pro­duc­tion can make AcFTA work - Aliko Dan­gote

Swazi Observer - - BUSINESS -

NIGE­RIAN multi-bil­lion­aire and Nige­rian in­vestor of note, Aliko Dan­gote be­lieves the Africa Con­ti­nen­tal Free Trade Area (AcFTA) is a fan­tas­tic mech­a­nism which could cat­a­pult African coun­tries to greater eco­nomic heights, only if the con­ti­nent in­creases its pro­duc­tion.

Speak­ing at the Sand­ton Con­ven­tion Cen­tre yes­ter­day in the sec­ond day of the Africa In­vest­ment Fo­rum (AIF), Dan­gote ob­served how many coun­tries keep im­port­ing goods from other con­ti­nents, even what they eat.

“We should al­ways bear in mind that when you im­port some­thing, you are im­port­ing poverty and cre­at­ing jobs else­where,” Dan­gote warned.

Re­call­ing

The Nige­rian bil­lion­aire also cau­tioned that for Africa to in­dus­tri­alise, Africans them­selves must take the lead.

He also warned gov­ern­ments against over­tax­ing in­vestors.

In a ple­nary ses­sion held later dur­ing the course of yes­ter­day, Dan­gote said: “We should all want to leave the legacy of trans­form­ing Africa to be­come like In­dia and China. No one will trans­form the con­ti­nent but us,” he said, also jok­ingly re­call­ing how great en­trepreneurs and in­dus­tri­al­ists like Ford had made Amer­ica great in­stead of pres­i­dent Don­ald Trump.

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