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Tag Archives: AfCFTA

‘Africa’s Free Trade Area Worth $3.3trn’: Akinwumi Adesina

President of the African Development Bank, Akinwumi Adesina, has said that the biggest thing to happen to Africa is the African Continental Free Trade Area (AfCFTA), saying the free trade area itself is worth over 3.3 trillion dollars. Adesina, who stated this when he addressed State House correspondents in Abuja recently, expressed hope that the effective implementation of AfCFTA would take ...

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South Africa’s President Cyril Ramaphosa Set To Assume AU Chairmanship

South Africa’s President Cyril Ramaphosa is set to take over the chairmanship of the African Union for the year 2020, replacing Egypt’s Abdel Fattah el-Sisi who chaired the organization through 2019. In his New Year’s address, the South African leader pledged to use the opportunity to rally Africa to actualize the Continental Free Trade Agreement, whose operational phase was launched in ...

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AfCFTA To Increase Africa’s Trade By 50%

Africa’s dream of creating a borderless $3.4 trillion market is set to face the litmus test in July next year when the African Continental Free Trade Area (AfCFTA) agreement comes into force. Launched in Kigali, Rwanda, in May this year, the signing of the AfCFTA agreement by all but one of Africa’s 55 countries was a major highlight for the ...

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Africa’s Progress Towards Economic Development

Africa’s progress in economic integration and its championship of multilateralism will further unlock the continent’s potential for economic development and facilitate its march towards prosperity. The launch of the African Continental Free Trade Area (AfCFTA) in July, first and foremost, shows that African nations prefer collaboration to protectionism. The historic agreement paves way for the formation of what could be one ...

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African Continental Free Trade Area – Big Winner

The 2019 implementation of the African Continental Free Trade Area (AfCFTA) has to be the year’s most significant accomplishment for Africa. After the continent’s exploitation through the Berlin Conference and its devastating consequences, African heads of states finally came together and reached a consensus, observed Dr. Arikana Chihombori-Quao, former African Union permanent ambassador to the United States. With her dismissal from ...

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Ghana Hosts Key AfCFTA Meetings

Ghana, under the auspices of its Ministry of Trade and Industry, began hosting a series of meeting for African Trade Ministers and Senior Trade Officials to advance the cause of the African Continental Free Trade Area (AfCFTA). The 17th Meeting of the African Continental Free Trade Area (AfCFTA) Negotiating Forum began the 7-day meetings at the Accra International Conference Centre. An ...

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Ethiopia Poised To Become Textile And Apparel Manufacturing Hub Of Africa

The International Trade Centre (ITC) organized under the Partnership for Investment and Growth in Africa (PIGA) project, a dialogue on Ethiopia’s potential to become the next textile and apparel (T&A) supply base for the world. The discussion was organized in collaboration with the Ethiopian Investment Commission (EIC) and the China Chamber of Commerce for Import and Export of Textile and ...

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AU Commission and SADC Secretariat Reiterate Commitment To Enhanced Cooperation

The Chairperson of the African Union Commission (AUC), His Excellency Dr. Moussa Faki Mahamat, paid a courtesy call on the Executive Secretary of the Southern African Development Community (SADC), H.E. Dr. Stergomena Lawrence Tax, at the SADC Secretariat in Gaborone, Botswana, on 22nd November 2019. The AUC Chairperson, who was on an official visit to the Republic of Botswana, thanked the ...

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Africa’s Should Reduce Its Dependence on Traditional Commodities

Africa is still heavily dependent on traditional export crops and commodities, reducing the scope for mutually beneficial trade. Yet this paints an excessively simplified view of trends in regional trade. Patterns of trade are changing rapidly. The traditional export market outside the continent of Africa (Europe, the United States and, increasingly, India and China) are of primary commodities, but the ...

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