President Kagame optimistic AfCFTA will boost investor confidence

Rwanda’s President Paul Kagame delivers a speech at the International School for Government at King’s College in London, on 21 January, 2020./ PHOTO: Rwanda Presidency.

Rwanda’s President Kagame has expressed optimism that the African Continental Free Trade Area (AfCFTA) will raise investor confidence and provide more opportunities for both Africans and foreign business persons.

President Kagame made the remarks on Tuesday 21, January 2020 at the Kings College London, where he held a public conversation alongside Alexander Downer.

“And later this year, the world’s largest new free trade area will become operational in Africa, covering nearly the entire continent. The African Continental Free Trade Area demonstrates to investors that there is solid political will in Africa for a deeper regional integration agenda. We have good reason to take advantage of these developments and work more closely together,” the 62-year-old said.

The AfCFTA’s operational phase was launched at the 12th Extraordinary Summit of the African Union (AU), which was held from 7 – 8 July 2019.

The free trade area is expected to create a market for over a billion people, with a GDP of approximately US$2.6 trillion.

Various leaders have hailed the AfCFTA, terming it a game changer in Africa’s trade sector.

Kagame’s visit to the U.K. was to attend the 2020 UK-Africa Investment Summit hosted by Prime Minister Boris Johnson.

Other than Kagame, other African leaders also attended the summit, including Kenyan President Uhuru Kenyatta, DR Congo’s President Felix Tshisekedi, Guinean President Alpha Conde, Malawi’s President Peter Mutharika, Nigeria’s President Muhammad Buhari, Egypt’s President Abdel Fattah el-Sisi, Uganda’s President Yoweri Museveni, Mozambique’s President Filipe Nyusi and Senegal’s President Macky Sall.