According to Wamkele Mene, Secretary General of the African Continental Free Trade Area (AfCFTA) Secretariat, Africa’s economy is expected to rank eighth in the world by 2050, with an estimated GDP of $16.3 trillion.

Secretary General Wamkele Mene stressed the significance of governments throughout the African continent deploying all available technological resources to propel growth and sustainability in their respective economies during his speech on the first day of the 3i Africa Summit in Accra. Mene focused on the need for businesses to leverage fintech to maximize outputs.

“The existential economic sovereignty of our continent is precisely why the African Continental Free Trade Area was established so that we can leverage on this market of 1.4 billion people, which by 2050 is projected to be the 8th largest economy in the world with $16.3 trillion 27 years from now but if we don’t deploy these digital technologies, all of us are going to be discussing where we got it wrong.”

“The emerging global geo-political context should compel us Africans to collaborate to find ways of coming out of the challenges we are facing,” Mr. Mene added.