The CEO of Denca Global Courier (DGC Express), Dr. Queen Onyinye Okpa, has shared her optimistic view on the future of Africa’s export potential.
In a recent statement, she predicted a stronger and more prosperous future for the continent’s export market.
Her insight followed new projections from the World Trade Organization (WTO), highlighting Africa’s growing opportunities in global trade.
The World Trade Organization (WTO) predicted a 5.3 per cent growth in African exports by 2024.
Basically, Dr. Queen Onyinye Okpa views this as a pivotal moment for the continent’s economy.
For her, the potential growth is promising, but the key lies in sustaining it.
The CEO of Denca Global Courier (DGC Express), Dr. Okpa, acknowledged that the forecast was encouraging.
However, she explained that Africa still faced significant challenges in the global trade landscape.
“The WTO’s outlook on Africa’s exports is a positive sign,” she said.
“But the real task is ensuring that this growth leads to meaningful economic progress across the continent.”
She highlighted a major issue: the gap between increasing exports and declining imports.
According to the WTO report, while African exports are rising, this hasn’t yet led to higher incomes or increased consumption in those nations.
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To shift this trend, Dr. Okpa emphasised the need for value addition, innovation, and diversification in Africa’s export industries.
Exports are set to surpass pre-pandemic levels, but the five per cent drop in imports from 2019 to 2023 is concerning.
Producing Value-added Goods
Dr. Okpa pointed out that higher energy and commodity prices were slowing down import growth.
Indeed, this reinforces the need for African economies to break their reliance on raw material exports.
Instead, they should focus on producing value-added goods that can compete globally.
Connecting Africa’s potential to the upcoming Export Business Roundtable (EBR) 2024, Dr. Okpa described it as a key event.
She emphasised that it was particularly important for African small and medium-sized enterprises (SMEs).
The roundtable will provide a platform for networking, collaboration, and growth opportunities.
“EBR 2024 is a unique chance for Nigerian exporters to engage with important international partners,” she said.
The event will also feature partnerships with Indian SMEs.
Furthermore, it will include representatives from major markets like the United States, United Kingdom, and Canada.
These key players and buyers will be crucial in expanding and diversifying African exports.
