Botho, in partnership with African Business magazine, the AfCFTA Secretariat, Afreximbank, AUDA-NEPAD, the International Islamic Trade Finance Corporation, and the International Trade Centre, is pleased to announce the launch of the fourth edition of the annual PAFTRAC Africa CEO Trade Survey Report for 2024.

This year's report, based on insights from business leaders across the continent, reflects growing optimism about Africa's trade growth prospects despite global economic challenges. It highlights the transformative potential of the African Continental Free Trade Area (AfCFTA) to unlock Africa's trade opportunities while identifying critical areas for support, including access to information, financing, and infrastructure development. The report also underscores the importance of enhanced collaboration between the private sector, trade finance institutions, and policymakers to address these challenges and fully realize the benefits of the AfCFTA.

To drive true multipolarity, BRICS+ must reconcile its diversity and unite around a cohesive agenda. Without this, it risks falling short of its transformative potential.

Africa's projected 25% increase in LNG production by 2026 presents promising economic opportunities, yet demands a balanced approach between export ambitions and regional energy security. While export infrastructure drives economic growth, it must integrate domestic and regional needs to ensure sustainable development.

African nations face a paradox: while they strive to add value through local processing, their reliance on foreign technology and expertise continues to undermine their bid for self-sufficiency.

Africa's fragmented payment systems present significant barriers to cross-border trade, causing delays and inflated costs. How can we transform these challenges into opportunities to unlock the continent's economic potential?

The concept of leapfrogging, which promotes bypassing traditional economic development stages through technology, often neglects the importance of job creation and industrial growth. This piece critiques the myth of leapfrogging as a shortcut to prosperity, emphasizing the need for diversified economic bases, employment elasticity, and sustainable development strategies that prioritize inclusive growth over digital illusions. India's jobless growth and Nigeria's low-quality employment issues exemplify the risks of relying solely on technology without addressing structural economic foundations. For true progress, investment in infrastructure, education, and productive capacity is crucial, not just technological innovation.