Olusegun Obasanjo on COVID-19 lessons for African economies & the AfCFTA

Former Nigerian President Olusegun Obasanjo has emphasized the need for self-sufficiency and self-reliance in key sectors such as agriculture and manufacturing in Africa amidst the COVID-19 pandemic. In an exclusive interview with CNBC Africa, President Obasanjo highlighted the importance of learning from the experiences of other countries in handling the pandemic to ensure a robust economic recovery in the continent. The former president also discussed the impact of COVID-19 on the operationalization of the African Continental Free Trade Area (AfCFTA) and how African economies can navigate the challenges posed by the global health crisis. President Obasanjo's insights shed light on the opportunities for African countries to strengthen their food security and domestic production capabilities in the face of disruptions to global supply chains. His recommendations for prioritizing essential sectors like agriculture and manufacturing underscore the resilience and adaptability of African economies in the midst of unprecedented challenges. As the continent seeks to recover from the economic fallout of the pandemic, President Obasanjo's call for strategic planning and collaboration resonates with the broader goal of advancing regional integration and sustainable development in Africa. The AfCFTA, a landmark agreement aimed at boosting intra-African trade, has faced delays in its implementation due to the pandemic. However, President Obasanjo remains optimistic about the prospects of the agreement and underscores the importance of staying on course despite the setbacks. Key stakeholders, such as the Afrochampions initiative, play a crucial role in ensuring the successful operationalization of the AfCFTA as they work towards enhancing trade facilitation and promoting economic cooperation across the continent. President Obasanjo's vision for a resilient and self-reliant Africa aligns with the aspirations of the AfCFTA to create a unified market that drives sustainable growth and development. As the continent navigates the challenges of the pandemic and charts a path towards recovery, President Obasanjo's strategic insights offer valuable guidance for policymakers and business leaders seeking to build a more resilient and prosperous Africa.