Ahead of the maiden forum of this year’s Citi Business Festival, General Manager of Citi FM and Channel One TV, Bernard Avle has joined calls for African countries to deepen intra-continental trade ties.
He stressed that this is essential to shield the continent from potential shocks triggered by global trade uncertainties particularly in the event that the African Growth and Opportunity Act (AGOA) is not renewed.
Concerns over global trade escalated this year following the U.S. government’s decision to impose a 10% tariff on imports from several countries, including Ghana. The move has raised alarm bells for Ghana’s export sector, especially under AGOA, which currently grants duty-free, quota-free access to the U.S. market for key products such as apparel, cocoa derivatives, shea butter, and horticultural goods. With AGOA set to expire in September 2025, the stakes are high.
In an interview with Channel One Business ahead of Thursday’s Citi Business Forum, Bernard Avle highlighted the urgent need for African countries to reduce reliance on external markets.
“Between January and now, average U.S. tariffs on some countries have increased by about 25%. That changes everything—how affordable our exports are to the U.S., and vice versa,” Avle explained. “Typically, when one country imposes tariffs, others retaliate. The global economy has already seen the ripple effects—markets have fallen, currencies have shifted, and many nations are investing heavily in gold. This isn’t just a global issue—it’s very much an African conversation.”
Avle encouraged policymakers, trade experts, and business associations to participate in the upcoming forum to help shape Ghana’s response strategy.
“The best way to benefit from the forum is to attend, listen, or watch. We’ve assembled some very important voices,” he noted.
He added:“Dr. Ekwow Spio-Garbrah, former Minister for Trade and a former ambassador to the U.S., brings deep insight into how the U.S. trade system operates. Mavis Owusu-Gyamfi, President of the Africa Center for Economic Transformation, will also share her perspective. We’ll hear from Michael Kottoh of Konfidants, and Emmanuel Mensah from Absa Bank—because without finance, none of this is possible. Absa is a key sponsor of the festival and will offer insights on how businesses can access the right kind of funding to stay competitive.”
The Citi Business Forum takes place on Thursday, June 12, from 8:30 a.m. to 1:00 p.m. at the Alisa Hotel in Accra. It will be broadcast live on Channel One TV.
This year’s theme is: “The Global Tariffs Dispute: Navigating Ghana’s Recovery Strategy.”
The Citi Business Forum is proudly sponsored by Absa Bank, MTN, and Zonda Tech Ghana Limited, and powered by Channel One TV and Citi FM.
