Free Trade Mechanism, Best Way to Reduce Impact of Global Crises in Africa, Experts Say  

Kuni Tyessi in Abuja

In the face of the ongoing global crises which has taken a toll on prices of fuel, food and general cost of living in several African nations, former United Nations Under-Secretary-General and Executive Secretary of the UN Economic Commission for Africa, Abdoulie Janneh, has said the best way to reduce its impact is for Africa to prioritize its markets and put mechanisms in place to cushion its effects.

He said while the mechanism has been validated by 50 African countries, the continent might not have the guts to say that such crisis should be stoped, but it sure has the guts to put into shape modalities that will push forward the African continent. 

Janneh spoke Friday at a policy forum organised by TrustAfrica in partnership with the Centre for Democracy and Development, West Africa, on the theme ‘Africa and the Escalation of Global Crises: Impacts and Responses.’

TrustAfrica was founded in 2006 as an independent philanthropic organisation rooted in Africa, and with belief that Africans must set the agenda for addressing the continent’s most pressing challenges.

Janneh noted that the implications on Africa also reflects on the military and what they can do, particularly in taking over power as done in few countries, or what they can do to protect the continent.

“Africa must prioritize this. The mechanism is there and has been validated by about 50 countries. They might not have the guts to say the war should be stoped, but have the guts to put into shape mechanisms that will push forward the African continent. 

“The effects of the war is collosal, moreso on fuel and food prices. Wars are a universal problem and a collosal miscarriage of justice and where might is right. Nobody is talking about it. Times are hard and no one is talking.

“The implications on Africa also reflects on our military and what they can do. They can wake up and take over as been done in some countries such as Mali, Burkina Faso and Niger. What can they do to protect us?” He asked. 

He further advised that Africa should trade amongst itself first before selling to other continents. African should prioritize its markets and then we will be able to provide goods and services. This is critical. Angola and Nigeria have so much fuel that can service the entire continent.

In his submission, Director, Centre for Democracy and Development- West Africa, Garuba Dauda, reiterated that global conflicts have already disrupted African economies, particularly with documented impact of the Ukraine war on grain supplies to countries like Ghana, Kenya and Nigeria.

According to him, “Even if the war ends in the Middle East, things will not remain the same. The war in Ukraine has affected three African countries; Ghana, Kenya and Nigeria, especially in terms of grains.

“We need to go back to trading within ourselves. We need frameworks to do this through the Africa Free Trade Agreement.”

Taking the conversation forward, a former Minister of Economy and Finance of Tunisia, Hakim Hammouda, warned that global crises may worsen the existing structural challenges across African economies, particularly in key sectors such as agriculture and industry.

He emphasized that the crisis if it happens will accelerate difficulties in industrial and agricultural production with consequences leading to economic stagnation.

The ex-minister called for innovation and stronger engagement from both governments and civil society in designing new policy responses.

According to him, “We need to apply pressure in designing approaches and developing new ideas. It is time for innovation and new ways of development to respond to this crisis.”

The forum brought together experts, policymakers, and development practitioners to examine strategies for strengthening Africa’s resilience against global shocks and explore the role of initiatives such as the African Continental Free Trade Agreement in boosting intra-African trade.