Your Excellencies, Ladies and Gentlemen,
1. I appreciate the organisers of TICAD 9 for convening this forum
under the timely and forward-looking theme, “Co-creating
innovative solutions with Africa.”
2. Africa’s journey to economic transformation faces significant
impediments, which we all recognise. The challenge before us is
not about knowing what needs to be done, but whether we have
the courage and urgency to do it.
3. Currently, less than 18% of Africa’s exports are traded within the
continent, compared to over 60% in both Europe and Asia,
according to UNCTAD. Africa must trade more with itself to
unlock the vast potential of our markets, open rivers of
opportunity for our people, create wealth, and drive inclusive
prosperity.
4. Agriculture remains Africa’s greatest untapped engine of
prosperity. It employs over 60% of our people and contributes
nearly a quarter of GDP, yet its promise is far from realised. With
65% of the world’s remaining arable land, Africa should not only
feed itself, but also feed the world.

5. This is not a failure of potential, but of investment,
infrastructure, and integration. By deploying technology,
financing farmers, investing in rural infrastructure, and trading
more with ourselves, we can transform agriculture from
subsistence into a powerful driver of industrialisation, job
creation, and shared prosperity.
6. Ladies and gentlemen, today, intra-African trade accounts for
only 14.9% of total African trade. By all credible estimates, under
the Africa Continental Free Trade Area (AfCFTA), intra-African
trade could surge by up to 50% by 2035. This would generate
immense wealth, create millions of decent jobs, expand
opportunities for SMEs, and open new markets for African goods
and services.
7. I have also been a strong proponent for reform of the
International Financial Architecture. The current global credit
rating system often overlooks Africa’s unique economic realities,
unfairly penalising our countries during periods of global distress.
This must change.
8. Progressive reforms are essential to unlock affordable,
predictable, and sustainable financing for development. I
therefore support the proposal to establish an Africa Credit
Rating Agency, complemented by reforms in global credit rating
systems to address structural inequities.

9. Given the constrained fiscal space in many African countries, the
private sector must play a central role through effective Public-
Private Partnerships (PPPs). A vibrant private sector brings not
only capital to bridge financing gaps, but also innovation,
technology, and efficiency critical to sustainable growth.
10. Excellencies, in conclusion, let me reiterate what I said at the
beginning of my statement: transformation cannot be achieved
through endless strategising, planning, or prevarication; it
demands action. The courage to make courageous decisions
today, even when inconvenient in the short term, because the
long-term good of our people is what matters most.
11. Let history record that ours is the generation that rose to meet
the challenge of our time—the generation that broke the chains
of poverty, expanded opportunity, and ended marginalisation.

I thank you.