The Secretariat of the African Continental Free Trade Area (AfCFTA) recently launched the implementation of a programme aimed at enabling more than 240,000 new jobs in the fisheries sector in certain African countries, during the period between 2024 and 2028. Dubbed “Economic Empowerment of Women and Youth in Fisheries,” the program is a partnership between the AfCFTA Secretariat, the Mastercard Foundation and TradeMark Africa (TMA), a leading African trade facilitation organization. It will benefit micro, small and medium-sized enterprises (SMEs) operating in Kenya, Uganda, Tanzania, the Democratic Republic of Congo (DRC), Zambia and Nigeria, the  Mastercard Foundation said. The programme which is also expected to boost trade in fish and fishery products by about $100 million, in the countries of intervention, was designed to address the structural challenges faced by African women and youth when participating in the fisheries value chain, it was noted. In Africa, the fisheries sector plays a major role in the food security and economic well-being of millions of households. To achieve its objectives, it will provide training, facilitate access to markets and finance, catalyse supply chain linkages, create digital solutions, simplify trade regimes, improve compliance with standards and enable streamlined access to cross-border markets, it added. In Africa, the fisheries sector plays a major role in the food security and economic well-being of millions of households, it was recalled. It employs at least 12 million people, the Mastercard Foundation added, citing figures from the World Bank (WB). The majority of these people are women involved in processing,...

Benin’s national trade national trade facilitation strategy is optimistic that it will dismantle trade barriers as it enters new frontiers of partnerships with organisations such as TradeMark Africa (TMA). The country has already embarked on this path with the establishment of the National Trade Facilitation Committee, which was set up following an interministerial decree to facilitate the implementation of the trade facilitation agreement adopted by the World Trade Organization (WTO) in 2013.  Eustache Pomalégni, the committee’s focal point, unveiled a roadmap for the development of an action plan that will outline the main guidelines for simplifying procedures, transparency and predictability with the aim of facilitating trade.  “We are in a very competitive environment that requires us to resize our ambitions, to make efforts in terms of simplifying procedures, restructuring infrastructure and implementing obligations for the sake of trade facilitation,” he noted. As a member of the WTO, Benin is obligated to rollout measures to ease trade processes, with these efforts receiving the support of development partners such as the World Bank and TradeMark Africa (TMA).  TradeMark Africa (TMA) is a leading African Aid-for-Trade organisation, founded in 2010 with the mission to grow intra-African trade and increase Africa’s share in global trade, while helping make trade more pro-poor and environmentally sustainable. The organisation started its operations in Eastern Africa, and later expanded to Southern Africa, the Horn of Africa. It later expanded its operations in West Africa by opening the first office in Ghana in January 2023. Plans are underway to scale operations in...

Lors de la conférence Africa Unlocked qui s'est tenue récemment au Cap, les membres du panel ont discuté de l'introduction de l'accord sur la zone de libre-échange continentale africaine (AfCFTA) et ont déclaré que le commerce intra-africain représentait environ 16 % des exportations de l'Afrique. En revanche, les niveaux en Asie ont atteint 55 %, en Amérique du Nord 49 % et dans les pays de l'UE 63 %. Compte tenu de ces statistiques, le groupe d'experts a déclaré qu'il était nécessaire d'examiner l'efficacité de l'AfCFTA et les mesures à prendre pour rendre les produits africains plus attrayants sur les marchés mondiaux et intra-africains. Un facteur important qui retarde les progrès de l'Afrique est son incapacité à devenir économiquement complexe en utilisant ses produits disponibles pour en développer d'autres qui ouvrent des opportunités dans de nouveaux domaines. Le principe de la complexité économique, maîtrisé dans les pays développés, a permis à des pays comme les États-Unis de créer et d'exporter des produits basés sur le pétrole il y a plus d'un siècle. Le Nigeria, qui a le même accès au pétrole, n'a pas franchi le pas de la complexité. Par conséquent, le pays importe un produit qui pourrait facilement être reproduit localement. Le même problème se pose sur de nombreux marchés africains où, pendant des décennies, l'enrichissement des matières premières n'a pas eu lieu. Le Ghana ne fait pas exception à la règle. Farihan Alhassan, directeur de la banque d'affaires et commerciale, Stanbic Bank, a déclaré : "Les producteurs ghanéens...

Les ministres africains responsables du commerce des pays éligibles à l'AGOA, unis dans leur quête de prospérité économique, ont appelé au renouvellement et au renforcement de l'AGOA lors du forum annuel 2024 de l'AGOA qui s'est tenu à Washington DC du 24 au 26 juillet. Reconnaissant le potentiel de la Zone de libre-échange continentale africaine (AfCFTA) pour stimuler le commerce intra-africain, les ministres ont exhorté les États-Unis à permettre le cumul avec tous les signataires de l'AfCFTA afin de renforcer les complémentarités entre l'AGOA et l'AfCFTA. Afin de maximiser les avantages des deux accords, les ministres ont proposé d'améliorer l'accès au marché pour les produits africains dans des secteurs tels que l'agriculture, le textile et les minéraux. Ils ont également plaidé en faveur d'un soutien accru aux petites et moyennes entreprises, d'initiatives de renforcement des capacités et de règles d'origine flexibles afin de stimuler la création de valeur ajoutée en Afrique. Les ministres ont également encouragé les États-Unis à investir dans les chaînes de valeur africaines en s'approvisionnant en minéraux essentiels et en les transformant à la source sur le continent. Cette approche, conforme à la loi sur la réduction de l'inflation, peut favoriser la création d'emplois et la croissance économique en Afrique tout en garantissant des approvisionnements essentiels pour les États-Unis. Voici quelques points clés de la lecture des ministres africains sur la façon dont les pays africains peuvent bénéficier de l'AGOA : Renouvellement à long terme - Plaider pour un renouvellement d'au moins 16 ans afin d'assurer la...

Avec un potentiel d'exportation de plus de 1,7 milliard de dollars, les pays d'Afrique de l'Est sont invités à harmoniser les normes et les processus et à supprimer les barrières commerciales. Selon Allen Asiimwe, directeur général adjoint de TradeMark Africa, des pays comme le Kenya, la Tanzanie et la République démocratique du Congo (RDC) sont parmi ceux qui devraient bénéficier de manière significative de l'augmentation des échanges transfrontaliers une fois que l'accord sur la zone de libre-échange tripartite (TFTA) sera pleinement mis en œuvre. Dans une interview accordée à CNBC Africa, M. Asiimwe a fait la lumière sur les implications de cet accord historique, expliquant comment l'harmonisation des normes commerciales, la suppression des barrières et la rationalisation des processus créeront de nouvelles opportunités pour le commerce dans la région. Avec 15 pays du bloc tripartite COMESA-CEA-SADC qui ont déjà ratifié l'accord et d'autres qui devraient faire de même, l'élan en faveur d'une facilitation accrue du commerce gagne du terrain. L'accord vise à créer un bloc plus intégré englobant 29 pays africains, à stimuler le commerce intra-africain et à favoriser la croissance économique dans toute la région.  L'un des points clés mis en évidence par Asiimwe est l'importance de l'alignement des réglementations et des protocoles commerciaux au sein des communautés économiques régionales. En normalisant les procédures douanières, les cadres tarifaires et les règles d'origine, les pays peuvent garantir des pratiques commerciales transparentes et compétitives. La mise en œuvre de tarifs extérieurs communs et de régimes commerciaux simplifiés au sein de blocs...

Kenya’s horticulture sector is booming driven largely by land availability and favorable climatic conditions in Kenya. Speaking during the 8th edition of the Agro-Food Pack Exhibition at the Sarit Centre in Nairobi, Kajiado Investment Authority CEO Dickson Sitei highlighted the primary elements fueling the success. “The availability of land and the conducive climate are vital for the success of our horticulture industry,” he noted. These natural advantages, he said, have provided a solid foundation for the cultivation of a wide variety of crops, making Kenya a leading hortculture exporter. Sitei said another significant factor is the advancement in transport and logistics infrastructure. “Improved access to airports and the Inland Container Depot (ICD) in Mombasa has been transformative,” he said. This logistics enhancement facilitates the efficient movement of goods from farms to international markets, greatly boosting the sector’s competitiveness. The development aims to replicate the efficiency and success seen in Kenya’s logistics sector, supporting both domestic and international trade. Water management is another critical area where significant progress has been made, Sitei said. He highlighted the role of solar-powered boreholes in addressing water scarcity. “Solarizing boreholes has greatly improved water availability for irrigation. This advancement ensures that farmers have a reliable water supply, crucial for maintaining crop production and meeting market demands,” he said. Despite these successes, Sitei addressed ongoing challenges, particularly concerning the Finance Bill. He expressed concerns about the frequent changes in financial legislation, which he said can create uncertainty for businesses. “We need a more stable financial policy...

African governments have agreed that breaking trade barriers between countries on the continent can unleash economic growth by creating opportunities for increased production, investment, and job creation. Rising from the 2024 African caucus meeting of Governors of the International Monetary Fund (IMF) and the World Bank Group (WBG) in Abuja, African ministers of finance and heads of central banks, noted that easy trade would provide access to larger markets, new technologies, and capital. The Abuja declaration issued at the end of the meeting lauded the African Continental Free Trade Area (AfCFTA), which is designed to promote trade among African countries by reducing trade barriers, harmonising regulations, and facilitating the movement of goods and services within the continent. It declared: “The meeting recognised the importance of intra-African trade in unlocking production, investments, and jobs in Africa. It also took cognisance that African countries continue to trade with the rest of the world more than among themselves. The meeting agreed that addressing both tariff and non-tariff barriers to intra-African trade, including fragmented payment ecosystems, poor energy access, lack of infrastructure, inconsistent regulatory frameworks, and divergent cross-border procedures, was critical to bolstering Africa’s share of global trade and stimulating sustainable and inclusive growth in the continent.” The governors underlined key pathways to boost intra-Africa trade that included strengthening the pan-African payment ecosystem, enhancing energy access, affordability, and connectivity; leveraging partnerships with MDBs, and reforming global financial architecture. The caucus also called on IMF and World Bank Group to ensure that their support to member...

Discussing the introduction of the African Continental Free Trade Area (AfCFTA) agreement at the Africa Unlocked conference in Cape Town recently, panel members said that intra-Africa trade accounted for about 16% of Africa’s exports. In contrast, levels in Asia have reached 55%, North America 49%, and countries within the EU 63%. Given these statistics, the panel said examining whether AfCFTA is effective and what is required to make African products more appealing in global and intra-African markets was necessary. A significant factor delaying African progress is its failure to become economically complex by using its available products to develop others that open opportunities in new fields. The principle of economic complexity, mastered in developed countries, has resulted in countries like the USA creating and exporting products based on oil more than a century ago. Nigeria, which has the same access to oil, has not taken the step into complexity. As a result, the country is importing a product that could easily be locally duplicated. The same problem exists across many African markets where, for decades, beneficiation of raw materials has not occurred. Ghana is no exception to this. Farihan Alhassan, Head Business and Commercial Banking, Stanbic Bank said: “Producers in Ghana have a unique opportunity to export their goods to African countries, taking advantage of AfCFTA and the Pan African Payment Settlement Systems (PAPSS) to facilitate payments across the African continent. The introduction of these 2 platforms should significantly impact the intra-African trade over the next decade, significantly bringing Africa...

African ministers responsible for trade from AGOA eligible countries, united in their pursuit of economic prosperity, called for the renewal and enhancement of AGOA at the 2024 AGOA Annual forum that took place in Washington DC from 24-26 July. Recognizing the potential of the African Continental Free Trade Area (AfCFTA) to boost intra-African trade, the ministers urged the US to allow for cumulation with all AfCFTA signatories to strengthen the complementarities between AGOA and the AfCFTA. To maximize the benefits of both agreements, ministers proposed increased market access for African goods in sectors like agriculture, textiles, and minerals. They also advocated for enhanced support to small and medium-sized enterprises, capacity building initiatives, and flexible rules of origin to stimulate value addition within Africa. The ministers further encouraged the US to invest in Africa’s value chains by sourcing and processing critical minerals at source in the continent. This approach, aligned with the Inflation Reduction Act, can foster job creation and economic growth in Africa while securing critical supplies for the US. Here are some key points from the African Ministers’ read-out on how African countries can benefit from AGOA: Long-term Renewal -Advocating for a minimum 16-year renewal to ensure predictability and stability in trade and investment relationships. Enhancing Utilization -Promoting regional value chains, simplifying rules of origin, and developing national and regional AGOA utilization strategies. Eligibility and Reviews - Urging the U.S. to adjust AGOA eligibility reviews to a three-year cycle and avoid using non-trade considerations in eligibility criteria. Africa seeks a...

With a trade potential of exports in worth over $1.7 billion available for countries to leverage and grow their trade, East African nations are being urged to harmonize standards, processes and remove trade barriers. According to TradeMark Africa Deputy CEO Allen Asiimwe, countries such as Kenya, Tanzania, and the Democratic Republic of Congo (DRC), are among those expected to benefit significantly from increased cross-border trade once the Tripartite Free Trade Area (TFTA) agreement is fully implemented. In an interview with CNBC Africa, Asiimwe shed light on the implications of this landmark agreement, explaining how the harmonization of trade standards, removal of barriers, and streamlining of processes will create new opportunities for trade in the region. With 15 countries in the tripartite bloc of COMESA-EAC-SADC having already ratified the agreement and more expected to follow suit, the momentum for enhanced trade facilitation is gaining traction. The agreement aims to create a more integrated block encompassing 29 African countries, boosting intra-African trade and fostering economic growth across the region.  One of the key points highlighted by Asiimwe is the significance of aligning trade regulations and protocols within regional economic communities. By standardizing customs procedures, tariff frameworks, and rules of origin, countries can ensure transparent and competitive trade practices. The implementation of common external tariffs and simplified trade regimes within regional blocks like the EAC has already laid the groundwork for seamless intra-regional trade. The tripartite agreement seeks to expand on these initiatives, facilitating smoother trade flows and promoting economic cooperation on a...