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    Home»Global Economy»Boosting Regional Trade Integration: Insights from WAES…
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    Boosting Regional Trade Integration: Insights from WAES…

    Kingsman | Financial AdvisorBy Kingsman | Financial AdvisorJune 24, 2025No Comments7 Mins Read
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    WAES: Single visa, merged digital identity seen increasing regional trade, integration

    Stakeholders on Friday in Abuja made strong suggestions for the adoption of single visa and merged recognize systems to increase local combination sell West Africa. The panel comprised of experts, while disputing the topic of “Regional Access Visa, Identity, Movement and Payment” at the continuous West Africa Economic Top (WAES), noted that higher local integration will just be possible if the region accelerates the execution of protocols on free movement of individuals, and harmonised digital identity systems. The panelists which included Olusehegun Bakare, Foreign Affairs Minister of Benin Republic, Hannatu Musawa, Nigeria’s Minister of Arts, Culture, Tourism and the Creative Economy, Obi Asika, Director General, National Council for Arts and Culture, Abisoye Coker-Odusote, Director General of the National Identity Management Commission (NIMC) and Chidozie Arinze, a Fintech specialist, settled on the need to adopt the policies as they will help in opening West Africa’s trade, tourist, and cultural capacity. Read likewise: WAES: Specialists make case for more equity investments to grow trade Bakari promoted for a merged West African visa system to promote intra-regional tourist and deepen economic ties. He argued that the existing barriers to motion, consisting of high travel costs, fragmented payment system and identity systems, along with visa limitations have actually contributed in stifling West Africa’s ability to grow its tourism sector and take advantage of its cultural wealth. “It’s more expensive to fly from Cotonou to Abidjan than to Paris. That need to change. We require a single air traffic area and a Schengen-style visa system, a minimum of among the coastal states, so tourists can explore the area seamlessly”, Bakari said. Highlighting the area’s underutilised tourist capacity, specifically among Africans themselves, Bakari called for purposeful efforts to encourage West Africans to find neighbouring nations. “Too many West Africans have actually never ever checked out a neighbouring nation. We need to promote intra-African tourist by removing visa bottlenecks and cutting travel expenses”, he said. He also stressed the importance of cultural tourist, pointing to Elmina Castle and comparable heritage websites as prime attractions for the African diaspora. “With 200 million Afro-descendants globally, West Africa is well positioned to draw visitors searching for their roots,” he said, keeping in mind that Benin is investing greatly in hospitality infrastructure to attract such travelers. On the subject of identity, Bakari applauded Nigeria’s push for extensive adoption of the National Recognition Number (NIN), adding that Benin has enrolled 98% of its population in its nationwide ID database. He proposed interoperability of national identity systems throughout West Africa to help with seamless travel and digital payments. Abisoye Coker-Odusote, Director General of the National Identity Management Commission (NIMC), echoed this sentiment, determining fragmented identity and payment systems as a significant barrier to local progress. She called for a harmonised digital identity community, built on the structure of existing frameworks like the ECOWAS National Biometric Identity Card (ENBIC) and the World Bank-supported WURI program. “For the area to attain seamless movement, we should merge our systems and data defense structures. We need a local agreement that permits safe cross-border interoperability of digital identities”, she stated. She also advised member states to align their nationwide systems with the African Union Interoperability Structure, cautioning that running in silos would weaken the shared goal of financial integration. Read also: Why Ghana Cedi is Africa’s finest carrying out currency in 2025 Arinze, financial technology professionals and payments market leader, stressed the function of unified cross-border digital payments in driving trade and inclusion. Referencing the European design, he kept in mind noted that allowing smooth cross-border transactions is crucial to unlocking intra-African commerce. “Payments are the lifeline of trade,” said Arinze, who advocated for policy harmonisation across nations. “We’re supporting the Pan-African Payment and Settlement System (PAPSS) under the AfCFTA to ensure that trade payments become part of life, not an exception.” He stressed that fostering competitors, interoperability, and private sector collaborations are vital to producing a robust digital payments landscape in the area. The panelists described that while lots of smallholder farmers and microentrepreneurs make up a substantial part of the region’s GDP, their organizations frequently stagnate due to an absence of standard monetary literacy. “Building new fintech items is inadequate. We must educate grassroots entrepreneurs on handling money, reinvesting revenues, and scaling their companies. That’s how we grow our GDP sustainably,” the panelist argued. He included that easing cross-border travel for little traders, by utilizing nationwide ID cards instead of passports could transform their economic realities and cultivate a more integrated West African economy. Obi Asika, Director General of the National Council for Arts and Culture (NCAC), provided Nigeria as a cultural powerhouse with global influence, thanks to its music, style, food, and digital content. He stated initiatives like the Imaginative Leap Accelerator Program (CLAP) and the Origins platform are developed to connect and empower young creatives Africa’s cultural diaspora through digital tools. “Culture travels faster than people– Afrobeats needs no visa. Nigeria is already all over culturally. We now need to scale digitally, financially and structurally to increase that impact”, Asika said. He stressed the need for collaboration in between digital content creators, tech platforms, and nationwide identity systems, stating, “The average Nigerian is 18 years old and on a mobile phone. What we provide to them through that device can speed up development.” Participants concurred that local integration is not simply a financial essential, however a cultural and identity revolution. As visa reforms, identity interoperability, and cross-border payments become central to policy conversations, the hope is that West Africa can position itself as a unified economic bloc that thrives on mobility, development, and shared heritage. He stressed the worldwide significance of Nigeria’s imaginative exports, noting that the nation’s influence in fashion, music, and movie extends far beyond its borders. “We are the heart beat of the black world,” Asika specified. “Five of the leading international arena artists are Nigerian, yet extremely couple of consist of African cities in their world trips. That has to change.” He promoted for increased regional touring throughout West Africa and called for financial investments in digital platforms that facilitate cooperation and content distribution, worrying that the imaginative economy could affect over 10 million tasks in the next three years. “Integration is not an option, it’s survival. “The more we link, the more powerful we become”, a panelist stated. Hannatu Musawa, Minister of Arts, Culture, Tourist and the Creative Economy, has actually revealed a series of ambitious initiatives targeted at placing the country, and the West African region, as a worldwide hub for culture, creativity, and tourism. Musawa highlighted plans under the “Location 2030: Nigeria All over” vision, which looks for to rebrand Nigeria internationally through its culture, talent exports, and thriving creative economy. The technique also focuses on enhancing inbound tourism and promoting task development through facilities investment, grassroots engagement, and policy harmonisation. “We’re not simply discussing international tourism. We’re also dedicated to driving domestic tourist by working together with states to display their unique possessions. Our restored hope cultural project has to do with unlocking the tourism value in every state of the federation”, Musawa said. She exposed that the ministry is carrying out a landmark data-mapping workout to collect thorough industry data for the first time in Nigeria’s history, details that will serve financiers, federal government agencies, and creatives alike. This consists of tracking sector development, identifying local tourism hotspots, and assisting in targeted financial investment. Among the platforms driving the sector’s transformation is CLAP (Innovative Laboratory Accelerator Programme), a one-stop digital look for developers targeted at supporting 2 million creatives by 2027. The initiative connects talent to training, opportunities, and financing, leveraging collaborations with both regional and worldwide stakeholders. Musawa also called for local policy harmonisation and an incentive routine to attract cross-border partnership in arts and tourism, while referencing effective models such as Mexico’s Cancún and Saudi Arabia’s AlUla. Nigeria, she stated, aims to reproduce this success through tourism advancement in locations like Zuma Rock and Obudu. The West Africa Economic Top continues to highlight the opportunities– and challenges dealing with local combination. From harmonised policies to digital infrastructure and cultural diplomacy, stakeholders concur: the time to act is now. “Nigeria is open. And West Africa is prepared. Connection, commerce, and culture should move together, not separately”, stated Asika

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    Kingsman | Financial Advisor
    Kingsman a 35-year-old financial advisor from London, UK, epitomizes the blend of analytical prowess and personable guidance. With a decade of experience in the financial sector, Kingsman has cultivated a reputation for his strategic approach to wealth management and investment advising. His journey began at the University of Oxford, where he graduated with honours in Economics, a discipline that fueled his fascination with the financial markets and their intricacies.
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    Kingsman a 35-year-old financial advisor from London, UK, epitomizes the blend of analytical prowess and personable guidance. With a decade of experience in the financial sector, Kingsman has cultivated a reputation for his strategic approach to wealth management and investment advising. His journey began at the University of Oxford, where he graduated with honours in Economics, a discipline that fueled his fascination with the financial markets and their intricacies.

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