On March 26, 2022, Nelson Madiba Amo, CEO of Innohub, called on African governments to remove barriers to the free movement of goods to ensure the effective implementation of the African Continental Free Trade Agreement (AfCFTA). Speaking to the media at the inaugural Forty Under 40 Africa Awards in Accra, Ghana, Amo described visa acquisition difficulties as “artificial barriers” that hinder intra-African trade and limit business opportunities across the continent. He shared a personal experience, stating, “Recently, I was invited to attend a meeting in an African country and the processes involved in the visa application were so tedious that I missed that opportunity. But it is much easier to secure a visa and travel outside Africa.”
AfCFTA’s Potential and Obstacles
Amo labeled these barriers as “pathetic and shameful,” warning that they could undermine the AfCFTA’s ability to deliver its intended economic benefits. The AfCFTA, launched on January 1, 2021, aims to create a single market for 1.3 billion people across 54 African countries with a combined GDP of $3.4 trillion, targeting a 52% increase in intra-African trade by 2022. However, intra-African trade remained low due to persistent issues like visa restrictions and customs delays.
Encouraging Investment and Youth Opportunities
Amo urged African businessmen to promote continental investments to create jobs and foster sustainable development. He called on governments to adopt policies that drive innovation and employment, warning that the lack of opportunities for youth is a “ticking time bomb” that could destabilize the continent. This aligns with AfCFTA’s goals to lift 30 million people out of extreme poverty and increase Africa’s income by $450 billion by 2035. Amo’s call supports Ghana’s efforts to leverage AfCFTA, including initiatives to boost exports and jobs.
Recognition at Forty Under 40 Africa Awards
At the 2022 Forty Under 40 Africa Awards, organized with Ghana’s Ministry of Tourism, Arts and Culture and Ministry of Youth and Sports, Amo won the Investment Category for his work supporting small and growing businesses through Innohub. He also secured the People’s Choice Award, earning the highest votes across all categories. Amo expressed gratitude to his family, friends, Innohub’s partners, board, and team. His expertise includes business development, growth consulting, and grant management, with qualifications from the University of Oxford’s Social Finance Programme and a Master’s in Development Studies from the London School of Economics.
Economic Context and Innohub’s Role
Amo’s advocacy comes amid Ghana’s economic challenges, including a 14% cedi depreciation and 13.9% inflation in early 2022, which heighten the need for enhanced trade. Innohub, having supported over 100 startups by 2022, contributes to job creation and innovation, aligning with AfCFTA’s aim to boost intra-African exports. Ghana’s role as the AfCFTA Secretariat host and its stable business environment position it to lead regional trade efforts.
