On the sidelines of FIAD 2024, held recently in Morocco, Ghislain Mouandza Mboma, Managing Director of Gabon's National Investment Promotion Agency (ANPI), shared his expertise on the economic and redistributive impacts of implementing the African Continental Free Trade Area (AfCFTA).
He stressed the need for Africa to speak with one voice on this initiative, despite differences of interest between states, particularly on sensitive issues where African unanimity can be difficult to achieve. Recalling that the economy is the engine of progress, and fosters an environment conducive to the mobility of individuals.
In his view, there are two essential prerequisites for the smooth running of the FTAA region: facilitating the mobility of African populations across the regional integration zones, with a view to overcoming the obstacles associated with immigration formalities, and the need to develop infrastructure to facilitate the transport of raw materials, which is vital to the growth of these countries.
The integration of African countries into the ZLECAF should be a gradual process, establishing processing criteria to ensure that products are authentically African, while taking into account the disparities in development between countries.
Initially, the platform will have to tap into the vast African market, with its millions of potential consumers, before aiming for international competition.
"We invite African investors to seize the investment opportunities in Gabon and to explore joint ventures with local economic operators", said Ghislain Mouandza Mboma. He went on to point out that the objective of the FTAA is to enable Africa to transform and add value to its continental raw materials. He insisted on the need for this project, as relevant as it is, to be part of a long-term perspective with solid foundations to guarantee its viability.
The ANPI CEO's speech was also an opportunity to highlight the progress made by the Gabonese government and its favourable framework for investment. This is based on three pillars: facilitating investment through a one-stop shop at ANPI, enabling companies to be formalised within 48 hours; tax incentives to optimise the return on investment (notably exemption from corporation tax for new companies for two consecutive years); and specific regimes such as the mining code, hydrocarbons, the agricultural sector and special economic zones offering significant advantages for exporters.
At the initiative of the pan-African investment fund Al Mada, majority shareholder of the Attijariwafa Bank Group, the International Africa Development Forum is establishing itself as a crucial event on the African continent. As a platform for bringing together economic players, investors and political decision-makers, it plays a catalytic role in turning economic opportunities into reality.