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Business News of Saturday, 26 February 2022


Trade and Investment Forum Africa will promote business relations across Africa - Bola Akinsanya

Dignitaries at the launch of the Trade and Investment Forum (TIFA) Dignitaries at the launch of the Trade and Investment Forum (TIFA)

The Trade and Investment Forum Africa (TIFA), a nonprofit networking platform established to promote trade and investment opportunities amongst small, medium, and large scale corporations in Africa was launched on Wednesday, February 24 in Ghana's capital, Accra.

The event was attended by key stakeholders, government representatives, industry practitioners, business consultants and corporate structure experts across countries in the subregion.

Speaking to the press at the sidelines of the launch, Executive Director, Bola Akinsanya explained that TIFA was created out of the need to find a solution to issues of inter-border trading and reducing the information gap amongst business practitioners on the continent.

According to him, having a recognizable and unified body that could resolve the myriad of issues affecting transborder trading and ensuring access to facilities to ensure business success was one of the reasons the forum was constituted.

“TIFA was created out of the belief that people should have information that they can work with. We felt like if you have a business family in the form of a network or a platform where people can come together to discuss important things, it will be easier to engage the government on how to mitigate the challenges and difficulties in trans-border or across the border trading.”

Mr. Akinsanya stressed that while TIFA won’t be going against any local policy in sovereign states, governments must be up in arms to reduce the bottlenecks affecting critical business areas as well as try to resolve the issues and crisis stifling the progress of business across border.

He noted that marrying local policy and regional treaties will be an important way to help commerce and build capacity.

A Member of the Board of Trustees, Dr. Azeez AdebAyo stated that one of the ways by which TIFA could be valuable and improve the business environment of member states is by extending its coverage outside Africa.

According to him, the world is looking at Africa as the fifth revolution, hence the need to capitalize on that impression.

“We are extending our coverage to other parts of the world including America. People are looking at Africa as a very important place. If you are talking about the fourth revolution which is technology, then the fifth revolution which others are looking out for is Africa,” he said.

“What Asia is doing now, Africa is the next focus. Infact, there is a whole lot of capital and funding that is available for projects businessmen want to execute,” Mr. Adebayo added.

Nigeria’s Chargé d’Affaires to Ghana, Esther Adebola Arewa giving a stamp of approval said the commission whose main purpose is promoting relations between the two countries, especially trade relations, will support the initiative and ensure a cordial relationship between both parties.

The three core pillars of TIFA are Trade, Investment and Advisory Services.

The Board of Trustees includes Mrs Mina Asamoah, Mr. Akinwunmi Azeez, Mr. Bola Akinsanya, Ms. Ruth Osei Brown, H2H. Dr. Chukwudi Ihenetu, Lawyer Stephen Badu, HRM Abdul Salami Saka, Prof.Emmanuel Gyau Lanz, Dr. Adebayo Azeez, Engr. Segun Daniel Ajagunna and Mr. Donald Djobo.