AFRICA’S vast potential intra-regional trade remains largely untapped due to the significant infrastructural gap, hindering the continent’s economic growth and development.
The remarks were made by Common Market for Eastern and Southern Africa (Comesa) secretary Bonakele Ndzinisa during Connect Africa symposium held at ZITF on Thursday.
“We have tried to improve our borders within Africa and implement digital technology for overseeing duty,” she said.
“For instance, Comesa partnered Zimbabwe for the upgrade of Chirundu border post to improve efficiency for traders so that they do not take a long time waiting for customs duty to be cleared manual.”
Ndzinisa said they have currently failed to implement harmonised free trade among some members States.
“We are facing a huge challenge to achieve harmonised free trade among member States due to different level of development as some nations depend on the taxes on custom duties for their upkeep,” she added.
The Comesa secretary said the different levels of development have affected trade, but they are working on uploading infrastructure within Africa to facilitate free trade which will improve the economy.
Afreximbank client relationship manager for southern Africa, Stanley Sachikanye, said it is sad that Africa has vast resources, is lagging behind due to lack of knowledge, with the death of manufacturing industries in other countries worsening the situation.
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“As Africa, we have raw materials, hence we export them. Once they are refined in Europe, we import them for high prices, which has made affected the growth of our economy,” he
said.
Sachikaye said some countries have policies that are not friendly for free trade, hence the need to rectify such policies for the development of Africa.
“It is critical for us as Africa to revise some of our policies because at times, for one to access some Africa nations, they have to board a plane which goes via Europe, which has made our trade hard,” he said.
Sachikanye said his institution is currently coming up with funding mechanism to fight low infrastructure development, which has been affecting harmonised free trade among nations.
