Dr Kofi Nyarko-pong Calls For A Borderless Africa To Unlock A $3.4 Trillion Economy

Dr Kofi Nyarko-pong of the Africa Prosperity Network has reaffirmed the urgent need for economic integration across the continent, describing Africa as a $3.4 trillion economy with a potential consumer market of over 1.5 billion people if trade and mobility barriers are removed.

Speaking on Morning Bite, Dr Nyarko-pong stressed that despite persistent challenges, Africa remains one of the world’s most promising regions, particularly if its people begin to think beyond national borders.

“Africa is fragmented into over 50 countries, largely due to colonial boundaries. If we remove these artificial barriers, we unlock a truly massive market,” he explained.

According to Dr Nyarko-pong, one of Africa’s biggest limitations is the tendency for individuals and businesses to think locally rather than continentally. He cited digital platforms as powerful tools that already allow Africans to trade, collaborate and connect beyond borders if the right systems are in place.

He highlighted the African Continental Free Trade Area (AfCFTA) as a key driver of this transformation, noting that its successful implementation could revolutionise trade, business expansion and youth entrepreneurship across Africa.

“A tailor in Accra should be able to sell to a customer in Cairo and receive payment seamlessly in local currency,” he said.

A major obstacle to cross-border trade, Dr Nyarko-pong noted, is Africa’s dependence on foreign currency systems and intermediaries such as Visa and Mastercard. He revealed that billions of dollars leave the continent annually through these channels.

To counter this, he pointed to the Pan-African Payment and Settlement System (PAPSS), an initiative designed to enable transactions in local African currencies. Several central and commercial banks across the continent have already signed on, with mobile money interoperability identified as the next critical step.

He announced the launch of the ‘Make Africa Borderless Now’ campaign, scheduled for February 6, aimed at mobilising 10 million signatures to advocate for visa-free travel, interoperable digital identity systems and freer movement across African states.

Dr Nyarko-pong described the Africa Prosperity Network as a not-for-profit organisation committed to turning the African Union’s Agenda 2063 from policy into practice.