Color LogoLoading...

🌍 Feed

✍🏿 Compose

Passport to Prosperity: Dangote touts visa-on-arrival regime to boost AfCFTA

#regional trade
#travel
#tourism
Billionaire industrialist Aliko Dangote is advocating for unrestricted movement for Africans to rev up trade and investment across the continent.

Seth Onyango, bird story agency


Nigerian business magnate Aliko Dangote is touting seamless mobility for Africans as a panacea for the sluggish adoption of the fledging African Continental Free Trade Area (AfCFTA).


Dangote made the proposal during a panel discussion at the ongoing 30th Afreximbank Annual Meetings in Accra, Ghana.


"I think what, maybe, African countries need to do is that, why don't you give Africans visas on arrival that will facilitate trade?" Dangote suggested, throwing light on the current cumbersome visa processes that often hinder intra-African business endeavours. 


His sentiments come as African states, especially the smallest ones, are liberalising travel requirements, indicating a positive trend towards more open travel policies on the continent.


Sharing a real-life scenario,  Dangote recalled an instance where he faced more red tape than a British companion while trying to enter an African country. 


"We go with a British guy or maybe a Nigerian holding a British passport (and) he is allowed in… We were arguing, debating about my visa and I am the one with the money. If you are making life difficult for me, there is no way I will go and invest," he candidly shared.


This anecdote powerfully highlights the paradox many African businesspeople face - encountering bureaucratic barriers within the continent, despite being poised to invest and spur economic growth.


To Dangote, a visa-on-arrival regime is not the finish line; it's the starting gun as an initial step towards a broad, inclusive, and collaborative African economy.


The Nigerian business mogul, known for his successful conglomerate, the Dangote Group, which has interests in commodities in Nigeria and other African countries worth tens of billions of dollars, argued that the continent's economic emancipation hinges on the successful implementation of the AfCFTA. 


"The West will not come to develop our economy so we have to do it…We must make sure that AfCFTA works," Dangote added. 


According to the latest edition of the African Visa Openness Index (AVOI), the continent is slowly moving toward greater integration as more states make progress in their freedom of travel policies. Moreover, some African passports have recently improved their rankings on the Henley Passport Index, with Seychelles, Mauritius and South Africa having the strongest passports. 


A revived push for a single African air transport market, with an initial pilot involving seventeen African states to facilitate air mobility on the continent, is also poised to improve business mobility on the continent.


In a boost for African economies, African Visa Openness Index figures show travel within the continent has become more open in 2022,


bird story agency

Top comments(0)

SEND

You may like this too...

Bird Story Agency

Despite a dip in overall funding levels, the continent is witnessing a marked increase in the number of ventures securing $1 million or more.
Apr 10, 2024

Bird Story Agency

Mozambique doubles down on growth with Africa's first dual benchmark rate cuts in 2024 as currencies across the continent score gains against the greenback.
Apr 5, 2024

Bird Story Agency

From ranking as the world’s worst-performing currencies in 2023, the Kenyan shilling and Nigerian naira have made significant progress. They are now among the best-performing currencies in the world for 2024, raising hopes for a lower cost of living in these countries.
Apr 2, 2024

Benjamindada

Explore how Leatherback's collaboration with YES BANK is revolutionizing remittances by enabling seamless Indian Rupee transfers worldwide, fostering economic growth and cultural exchange between India and Africa.
Mar 26, 2024

TechCabal

Access Bank's acquisition of National Bank of Kenya (NBK) marks a significant move in its East Africa expansion strategy, valued at around $100 million, pending regulatory approval. 📈💰
Mar 21, 2024

TechCabal

Nigeria's Access Bank strengthens its presence in Kenya with the acquisition of the National Bank of Kenya from KCB Group, marking its second Kenyan acquisition in recent years. 🌍💼
Mar 20, 2024

TechCabal

Nigeria's Securities and Exchange Commission (SEC) proposes a substantial increase in the minimum paid-up capital for virtual asset service providers (VASPs) to ₦1 billion, aiming to reshape the crypto landscape.
Mar 18, 2024

TechCabal

Chipper Cash, a prominent fintech company, announces layoffs and salary cuts after suspending its services in the US, highlighting a strategic shift towards focusing on its African markets.
Mar 16, 2024

TechCabal

Despite economic challenges fueled by hyperinflation and sanctions, Zimbabwean startups are resilient and forging ahead. Learn how they navigate funding constraints, access markets beyond borders, and embrace alternative financial technologies.
Mar 15, 2024

Bird Story Agency

Nongcebo Langa fell in love with wine after a chance encounter with a winemaker at a fair. She went on to study the craft at South Africa’s renowned Stellenbosch University and her passion and mastery of the industry’s technical processes has resulted in her creating award-winning wines, like the 2022 Delheim Gewürztraminer.
Mar 12, 2024
Home
Business Hub
Market Hub
You
By signing up you agree to ourTerms|About us|Market Hub|Business Hub|Deals Hub