ECCAS Business Council Chairperson on unlocking Angola’s trade opportunities

The conversation around industrialization in Africa has been ongoing for decades, with a recent focus on unlocking trade opportunities and fostering economic growth through regional integration and strategic investments. Eric Monga Mumba, Chairperson of the Economic Community of Central African States (ECCAS) Business Council, sheds light on the discussions taking place to bridge the gap between the Southern African Development Community (SADC) and Central Africa, particularly highlighting Angola as a key player in this endeavor. Mumba emphasizes the importance of linking the markets of SADC and Central Africa to create a larger integrated market of 1.3 billion consumers in Africa. By facilitating the movement of goods and resources between these regions, the potential for economic growth and increased trade opportunities is vast. Angola, positioned as a pivotal player due to its strategic location, abundant natural resources, and current leadership role in the SADC council, serves as a gateway to fostering closer ties between the two communities. The role of financial institutions such as the African Development Bank and the Africa Export-Import Bank is crucial in providing the necessary capital to fuel industrialization efforts. With significant investments required in energy, infrastructure, and transportation, these institutions play a key role in financing projects that drive economic development and promote private sector involvement. Furthermore, the involvement of politicians is essential in creating an enabling environment for sustainable growth and development. Policy harmonization, tax regulations, and political stability are highlighted as key factors that can attract foreign investments and ensure long-term prosperity for the region. Mumba underscores the need for strategic collaboration among various stakeholders to align interests and maximize the benefits of infrastructure projects for the African population. In light of external investments from global powers like the US and China, Mumba emphasizes the importance of prioritizing the needs and interests of Africa. Infrastructure development should serve the local communities and enhance intra-regional connectivity, ultimately driving economic progress and improving livelihoods across the continent. As discussions progress and efforts towards regional integration and economic growth continue, Mumba calls for a collective focus on sustainable development, policy coherence, and inclusive decision-making processes. By leveraging the resources and expertise of both the public and private sectors, Africa can unlock its full potential and create a thriving ecosystem of trade and investment.