The Secretary General of the African Continental Free Trade Area (AfCFTA) Secretariat, Wamkele Mene, has projected that Africa's economy will reach an estimated $16.3 trillion by the year 2050, positioning it as the 8th largest global economy. 

Speaking at the 3i Africa Summit in Accra, Mr Mene emphasised the crucial role of leveraging fintech for businesses to maximize outputs. 

He urged African governments to harness all available technological resources to drive growth and sustainability in their economies, highlighting the necessity for achieving prosperity across the continent.

“The existential economic sovereignty of our continent is precisely why the African Continental Free Trade Area was established so that we can leverage 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.

Under the theme 'Unleashing the Fintech and Digital Economic Potential of Africa,' the summit aims to assemble influential figures from the finance sector across Africa and around the world. 

Organised by the Bank of Ghana (BoG) and the Development Bank Ghana (DBG), in collaboration with Elevandi and supported by the Monetary Authority of Singapore, the event will provide a platform for discussions, speeches, and interactions. 

Attendees can expect to hear from heads of state, senior government officials, investors, industry leaders, policymakers, and innovators during plenary sessions and interactive discussions.