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Nigeria is positioning itself to lead the continent in digital commerce within the African Continental Free Trade Area (AfCFTA) framework. Already, the country’s digital economy has transformed the way millions of citizens shop, bank, and communicate, reshaping the nation’s trade landscape and unlocking new pathways for economic growth. The AfCFTA aims to harmonize digital trade […]
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 […]
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 […]
The latest World Bank’s Economic Update on Kenya reports that the country relies on a fixed basket of products, which has seen it lose market share in the European Union (EU) bloc. Kenya lags behind Uganda, Tanzania and Ethiopia as far as export diversification and product mix are concerned. It is steadily losing market share […]
Accra, July 17, GNA – The World Bank has identified intra-African trade and digitalisation as key drivers of economic transformation on the continent, and urged that bottlenecks are removed. The Bank said the two sectors offerred hopes for the continent’s transformation as they could provide significant opportunities for increased competition, Foreign Direct Investment (FDI) flows, […]
The AfCFTA seeks to significantly increase trade between African countries by reducing tariffs, eliminating trade barriers, and streamlining customs procedures. This single market is expected to benefit African businesses by providing access to a larger customer base, promoting competition, and encouraging innovation. Economic Integration By fostering closer economic ties between African nations, the AfCFTA aims […]
The Infrastructure Africa Business Forum, set to take place at the CTICC in Cape Town, South Africa, on the 16 – 17 July 2024, will delve into critical discussions on the development of Africa’s infrastructure, with a spotlight on the pivotal role of Development Finance Institutions (DFIs). This year’s forum aims to foster collaboration and innovation […]
The African Continental Free Trade Area (AfCFTA) represents a landmark achievement in the pursuit of economic integration across Africa. As the continent navigates the path to restoring economic growth, connecting African countries and optimizing the AfCFTA are crucial steps toward realizing the full potential of this ambitious trade agreement. Economic Integration for Sustainable Growth The […]
United States Trade Representative Katherine Tai will host the 21st U.S.–sub-Saharan Africa Trade and Economic Cooperation Forum (AGOA Forum) in Washington, D.C., from July 24 to 26, purposely to work out further on measures to deepen trade and strengthen economic cooperation. In addition, it will also build on the most diverse areas of cooperation discussed […]
United Republic of Tanzania, Zanzibar, 25 June 2024: The African Continental Free Trade Area (AfCFTA) Secretariat, in partnership with the Mastercard Foundation and TradeMark Africa, has announced a four-year fisheries program to be implemented across seven countries to enable over 240,000 work opportunities and boost trade in fish and fish products by about $100 million […]
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