WEEKLY INFORMATION
19 MAY, 2023.
AfCFTA Says Uganda Well Positioned to Benefit From Intra-Africa Trade Initiative.
The secretary general of the African Continental Free Trade Area (AfCFTA), Wamkele Mene has said Uganda's private sector is in good position to benefit from AfCFTA's intra-Africa trade initiative.
Mene made the remarks on Monday during a private sector dialogue on harnessing opportunities presented by AfCFTA at Serena Hotel, Kampala.
https://allafrica.com/stories/202305170479.html
THE GOVERNMENT CALLED TO UNDERTAKE TRADE REFORMS TO OPTIMIZE THE GAINS FROM THE AFCFTA–NCCI.
The government has been called by the country’s business chamber to undertake trade reforms and take steps to optimize the gains from the Africa Continental Free Trade Agreement (AfCFTA).
The Chamber of Commerce and Industry (NCCI) President Bisey Uirab highlighted this during a National Corporate Forum held Monday for corporate executives and industry leaders to guide the Chamber’s advocacy agenda and support the implementation of its activities.
ECA’s Antonio Pedro calls for investments in infrastructure to accelerate the implementation of the AfCFTA.
Africa should promote supportive policies and infrastructure development to attract green investment and boost trade through the African Continental Free Trade Area (AfCFTA), Economic Commission for Africa, Acting Executive Secretary, Antonio Pedro, has urged.
“To reap the AfCFTA opportunities we must address Africa’s infrastructure gap,” Mr Pedro told participants at the Africa Regional Session of the 12th Annual Investment Meeting, adding that, to attract sustainable cross-border investments to Africa, “hard and soft infrastructure must be addressed.”
IMF Chief Advocates Africa Continental Free Trade Area.
The head of the International Monetary Fund is urging African countries to implement the Africa Continental Free Trade Area.
Speaking Friday in Nairobi, Kristalina Georgieva said intracontinental trade could grow by 53% if steps are taken to remove trade barriers and improve logistics and transportation.
Georgieva said there are many benefits to be gained from the Africa Continental Free Trade Area, or AfCFTA. But first, she said, reforms are needed to capture the full advantages, including what the IMF sees as the number one priority — reducing trade barriers, such as tariffs.
https://www.voanews.com/a/imf-chief-advocates-africa-continental-free-trade-area-/7080895.html
WEEKLY INFORMATION
12 MAY, 2023.
How Naira redesign and its aftermath affect free trade in Nigeria.
During the first quarter of 2023, Nigerians experienced cash circulation shortages due to the naira redesign policy. This policy negatively impacted several informal sector businesses, such as local retail shops, artisans, and commercial bus drivers.
First Tanzanian gets certificate of origin to trade on AfCFTA.
Presenting the certificate yesterday, the acting vice president of the Tanzania Chamber of Commerce, Industries, and Agriculture (TCCIA), Mr Vicent Minja said the certificate will allow the businessman to get a reduction in customs duty from 35 percent to 12 percent.
Namibia Welcomes First Digital Nomads.
Namibia officially recorded her first digital nomads just five months after the official launch of the country’s Digital Nomad Visa (DNV) on 11 October 2022. The programme was launched by the Ministry of Home Affairs, Immigration and Security (MHAISS) and the Namibia Investment Promotion and Development Board (NIPDB), with the aim of enhancing economic activity in the country. The first two digital nomad visa applications were approved on 14 February 2023.
https://allafrica.com/stories/202305090497.html
Value of Kenya exports to Tanzania tops EAC growth.
Kenya’s total exports to Tanzania posted the biggest growth among all East Africa Community(EAC) destinations in terms of absolute value last year, underlining the gains of a reset in the relations between the two countries.
National Consultations for drafting of Constitution for the EAC Political Confederation resumes in Kenya.
East African Community Headquarters, Arusha, Tanzania, 9th May, 2023: National consultations for the drafting of the Constitution of the East African Community (EAC) Political Confederation resumed in Mombasa, Kenya with the launch of 20-day long public hearing sessions across the country.
The 20-day consultations will see the team of constitutional experts for Drafting the EAC Political Federation Constitution hold consultations with civil society, local leaders, opinion leaders and the business community, among other stakeholders, to seek their views on what kind of a Political Confederation they would desire for the EAC.
The $2 billion Rwandan airport that could help African aviation take off.
Some 40 kilometers south of the Rwandan capital of Kigali in the Bugesera District, construction vehicles and high-visibility vests swarm across an arid expanse of land.
Here, two strips of tarmac are the cornerstone of a $2 billion airport, whose developers want it to be the jewel in the crown of Africa’s aviation industry.
AfCFTA: Effective implementation and reforms to boost growth - IMF report.
The departmental paper published Friday (May 5) examined the prospects for African trade integration in the context of a changing world amid the climate crisis, risks of geopolitical fragmentation, technological progress, and the continent’s prospective demographic growth.
The 64-page document found that comprehensive reforms combined with the AfCFTA implementation could increase the median merchandise trade flow between African countries by 53 percent and with the rest of the world by 15%.
WEEKLY INFORMATION
5 MAY, 2023.
The Role of Blockchain in Promoting Cross-border Trade in Africa.
Cross-border trade and commerce in Africa is an important part of the region’s economy, with room for expansion.
However, addressing the barriers to cross-border trade in Africa, such as inadequate infrastructure and high transportation costs, is critical to realizing the region’s full potential and driving economic growth and development.
The exchange of goods and services between African countries or between African countries and other parts of the world is referred to as cross-border trade in Africa.
https://blockbuild.africa/blockchain-cross-border-trade-in-africa/
Ruto urges swift removal of EAC trade restrictions.
The Kenyan leader criticised political boundaries as “old-fashioned and divisive” and urged the region to work together to build bridges of friendship.
“We must not give credibility to the artificial boundaries that exist in our region,” he said when he launched a flagship report on migration in the EA and Horn of Africa blocs.
women entrepreneurs for good
accelerator programme for early-stage entrepreneurs
https://www.opportunitiesforafricans.com/womenentrepreneurs4good-3-0-accelerator-programme/
United States and Africa: increased engagement regarding trade creating opportunities in the African free trade area.
The US has often expressed its support for #AfCFTA, stating that it wants to see the growth of Africa’s economic power in the world.
The trade partnership between the US and Africa has been strengthening for some time. In July 2021, the Biden Administration announced that it would renew the US Prosper Africa initiative, started in 2019, with a focus on increasing reciprocal trade and investment between the US and African countries.
WEEKLY INFORMATION
28 APRIL, 2023.
The East African Court of Justice delivers a landmark judgement on Kenya’s bilateral negotiation with the United States without involving the EAC Partner States.
The United States (U.S.) and Kenya commenced bilateral trade through the enactment of the African Opportunity and Growth Act (AGOA), signed in the year 2000.
The Growth Summit: Jobs and Opportunity for All.
The Summit aims to advance future opportunities and tackle current challenges through collaboration, foresight and innovation on three core themes.....kindly follow the link below 👇
https://www.weforum.org/events/the-growth-summit-jobs-and-opportunity-for-all-2023
Creating one currency for Africa difficult, it will take time – AfCTA Secretary-General Wamkele Mene
Secretary General of Africa Continental Free Trade Area (AfCTA), Wamkele Mene says disparities in the economic conditions in many countries across the continent are posing a significant challenge to the vision of the African Union to grow into a full economic union with its member states having one common currency, a condition requisite for boosting trade and economic development.
WEEKLY INFORMATION
21 APRIL, 2023.
AfCFTA agreement presents economic opportunities for investors
This is an opportunity that our continent and our investors should not miss. It is of course expected that there will be challenges but I encourage everyone to look at Africa with a long-term view of investing and to see your returns in your investments,” Wamkele Mene said at the gathering held at the Sandton Convention Centre in Johannesburg.
https://www.sanews.gov.za/south-africa/afcfta-agreement-presents-economic-opportunities-investors
WEEKLY INFORMATION
14 APRIL, 2023.
Ghana takes advantage of AfCFTA to boost trade relations with Kenya.
In order to strengthen commercial ties with Kenya, Ghana has declared intentions to take advantage of the African Continental Free Trade Agreement.
WEEKLY INFORMATION
24 MARCH, 2023.
Economic Community of West African States (ECOWAS) Commission Holds a Stakeholders’ Sensitization Meeting on ECOVISA.
The Economic Community of West African States (#ECOWAS) Commission through the Directorate of Free Movement of Persons and Migration has just concluded a sensitisation meeting on the implementation of a multi-country (Schengen-Type) Single Visa System (ECOVISA) for migrants of third country extraction.
https://www.africa-newsroom.com/press/economic-community-of-west-african-states-ecowas-commission-holds-a-stakeholders-sensitization-meeting-on-ecovisa?lang=en
WEEKLY INFORMATION
16 MARCH, 2023.
#vacancy @ African Union
Deputy Secretary General (AfCFTA)
Purpose of Job
To coordinate the performance and delivery of the AfCFTA Secretariat programmes and ensure high performance results and impact. The Deputy Secretary general will assist and deputize the Secretary General in delivering his/her mandate.
Applications must be made not later than April 17, 2023.
Apply at the African Union
https://jobs.au.int/job/Ghana-Deputy-Secretary-General-%28AfCFTA%29/767269902/
WEEKLY INFORMATION
20 JANUARY, 2023.
MPs reject sh1.4b budget for EAC affairs sensitization.
https://www.newvision.co.ug/category/news/mps-reject-sh14b-budget-for-eac-affairs-sensi-151819
Lagos launches technical working group on AFCFTA.
In a bid to create a single market for goods and services and deepen economic integration among African countries, the Lagos State ministry of commerce, industry and cooperatives has inaugurated the state’s technical working group on Africa Continental Free Trade Area (AFCFTA).
https://businessday.ng/amp/news/article/lagos-launches-technical-working-group-on-afcfta/
Ruto, EAC ministers pledge to end trade barriers.
Kenyan President William Ruto on Tuesday, January 17 issued a rallying call to regional leaders, citing that it will require joint forces to end the current trade and investment bottlenecks in the region.
https://www.newtimes.co.rw/article/4312/news/africa/ruto-eac-ministers-pledge-to-end-trade-barriers
The 45th Ordinary Session of the Permanent Representatives’ Committee (PRC) begins.
The 45th Ordinary Session of the Permanent Representatives’ Committee (PRC) kicked off on 16 January 2023, in preparation for the 42nd Ordinary Session of the Executive Council and the 36th Ordinary Session of the Assembly of the African Union (AU) to be held from the 15-19 February 2023.
2023 ICFJ Knight Awards Nominations Are Now Open.
Each year, the International Center for Journalists honors outstanding colleagues with the ICFJ Knight International Journalism Award at our Tribute to Journalists. We are now seeking nominees whose pioneering coverage or media innovations have made an impact on the lives of people in their countries or regions. Candidates can be reporters, editors, technologists, media managers or citizen journalists. Those who meet the award’s criteria may nominate themselves. Please submit your nominations by Sunday, Feb. 5, 2023.
https://www.icfj.org/news/2023-icfj-knight-awards-nominations-are-now-open
How women fact-checkers are fighting misinformation across Africa.
The rise of misinformation in Africa has led to a series of consequences, among them conflict and violence, and a lack of trust in healthcare systems.
Earlier this year, for example, a number of false narratives were spread about the farmer-herder crises in Nigeria. Although this conflict has roots dating back to the 19th century, misinformation continues to aggravate the issue today, resulting in more violence.
https://ijnet.org/en/story/how-women-fact-checkers-are-fighting-misinformation-across-africa
The Michael Elliott Award for Excellence in African Storytelling.
The International Center for Journalists (ICFJ), the ONE Campaign, and the Elliott family are happy to announce a call for entries for the Michael Elliott Award for Excellence in African Storytelling.
https://www.icfj.org/our-work/michael-elliott-award-excellence-african-storytelling
WEEKLY INFORMATION
16 DECEMBER, 2022.
Kenya introduces its tea brands in Ghana through AfCFTA market
Kenya has introduced its brands of tea in Ghana through the African Continental Free Trade Area (AfCFTA) market.
The introduction of the value-added products with a brand name KETEPA, deepens the bilateral trade between the two countries and commitment to maximise the opportunities AfCFTA presents.
Join us today for our Book Talk on the Existential Priorities for the AfCFTA:
Time: 15:00 – 17:00 EAT
Venue: Conference Room 5
Union of Comoros declares its readiness to ride on the AfCFTA and expand its export base.
Moroni (Comoros) 8 December 2022 (ECA) - Mr Ahmed Ali Bazi, Minister of Economy, Industry, and Investments of Comoros says that there is no doubt the country will soon ratify the Africa Continental Free Trade Area (AfCFTA) to facilitate greater trade opportunities to the rest of the continent as an important option for financing sustainable development.
African e-payments could grow to Reach $40billion by 2025.
While African fintech raised over $1.3billion in 2021 alone, the industry in the region is not without its challenges.
The success of Africa’s fastest-growing start-up industry has been driven by a range of trends. Increasing smartphone ownership, reduced internet costs, expanded network coverage, and a young, fast-growing population have all helped grow African fintech.
https://thefintechtimes.com/african-fintech-40billion-by-2025/
SADC conducts electronic Certificate of Origin workshop.
A five-day training workshop for customs officers and customs brokers from four Southern African Development Community (SADC) Member States, namely Eswatini, Malawi, Namibia and Zambia was conducted in Johannesburg, South Africa, from 28th November to 2nd December 2022
https://www.sadc.int/latest-news/sadc-conducts-electronic-certificate-origin-workshop
WEEKLY INFORMATION
9 DECEMBER, 2022.
African e-payments could grow to Reach $40billion by 2025.
While African fintech raised over $1.3billion in 2021 alone, the industry in the region is not without its challenges.
The success of Africa’s fastest-growing start-up industry has been driven by a range of trends. Increasing smartphone ownership, reduced internet costs, expanded network coverage, and a young, fast-growing population have all helped grow African fintech.
https://thefintechtimes.com/african-fintech-40billion-by-2025/
SADC conducts electronic Certificate of Origin workshop.
A five-day training workshop for customs officers and customs brokers from four Southern African Development Community (SADC) Member States, namely Eswatini, Malawi, Namibia and Zambia was conducted in Johannesburg, South Africa, from 28th November to 2nd December 2022.
https://www.sadc.int/latest-news/sadc-conducts-electronic-certificate-origin-workshop
The Covid-19 pandemic has unlocked the growth of e-commerce opportunities, with millions of consumers preferring to shop online.
This is according to a recent global survey conducted by MARCO, a Madrid-based communications agency.
Dubbed “MARCO Survey: Post-COVID-19 Consumption Behaviour II”, the survey, conducted from May to June, covers more countries and is a sequel to “MARCO Research: Post Covid Consumer Behaviour” carried out in April to May 2022.
Final call for applicants: African Women in Media: Agenda 2063 Awards.
Every year during the annual African Women in Media Conference, female journalists are given the opportunity to pitch their story ideas to document the progress in the realization of the various Agenda 2063 Aspiration and Goals. The AWIM Agenda 2063 Awards Pitch Zone is unique in its setting as it provides journalists a setting where they can showcase their creativity and ultimately be supported with cash grants to produce stories and news pieces on opportunities for fostering Africa’s socio-economic growth through the implementation of Agenda 2063.
Key Decisions at the 43rd COMESA Ministers Meeting.
COMESA Council of Ministers will engage their counterparts in Member States that have not ratified the Tripartite Free Trade Area Agreement (TFTA) to do so as a matter of priority to pave way for its implementation.
https://www.comesa.int/key-decisions-at-the-43rd-comesa-ministers-meeting/?
WEEKLY INFORMATION
2 DECEMBER, 2022.
European Union and African Union Commissions take stock of the implementation of the February Summit commitments.
https://ec.europa.eu/commission/presscorner/detail/en/IP_22_7247
Speech by H.E. Moussa Faki on the occasion of the 17th Extraordinary Session of the African Union Conference on Industrialization.
Niamey, Niger - 24 November, 2022 | Launch of the AfCFTA Private Sector Mapping and Glossary.
On Thursday, 24th November in Niamey, Niger, the AfCFTA - African Continental Free Trade Area Secretariat held an important seminar in partnership with the International Trade Centre (ITC).
One of the Highlights in the just concluded African Union Summit in #Niamey #Niger
The African Union Ordinary Session of the Executive Council has concluded with the adoption of decisions expected to give momentum to the continental shift towards accelerated economic diversification, value addition, and structural transformation as a critical source of industrial development and economic growth in African countries.
WEEKLY INFORMATION
25 NOVEMBER, 2022.
Namibia launches the AFCFTA national strategy in an effort to promote continental trade.
Windhoek, Namibia, 21 November 2022 - The Namibian Government in collaboration with the Economic Commission for Africa (ECA) and the United Nations System in Namibia officially launched Namibia’s National Strategy and Implementation Plan for the Agreement Establishing the African Continental Free Trade Area (AfCFTA) for the period 2022-2027. The Agreement provides an opportunity for Namibia to increase its intra-African exports and enhance the country’s export-led manufacturing and services capabilities.
Poultry industry jitters over extension to US anti-dumping tariffs.
The South African Poultry Association (Sapa) will have to continue to “take one for the team”, at least for the next 18 months, as the International Trade Administration Commission (Itac) conducts a sunset review of US anti-dumping tariffs, which expire tomorrow.
#VACANCIES @ AfCFTA - African Continental Free Trade Area
https://au-afcfta.org/afcfta-careers/?s=08
African Women Entrepreneurs Call for Support of Africa Free Trade.
African women entrepreneurs from 35 countries have called for more support from lenders and governments to help them benefit from the African Continental Free Trade Area. Meeting in Cameroon's capital for the U.N.-sponsored African Women Entrepreneur Forum, the women say their businesses are mostly small, informal, and suffer discrimination.
Ethiopia Begins Exporting Power To Kenya.
Ethiopia has started exporting electricity to neighboring Kenya following a week of testing of a new transmission line, Ethiopian Electric Power said.
The $500 million line has capacity to transmit 2,000 megawatts of electricity, potentially earning Ethiopia as much as $100 million annually.
https://www.busiweek.com/ethiopia-begins-exporting-power-to-kenya/
WEEKLY INFORMATION
18 NOVEMBER, 2022.
AfCFTA – The environmental case for continental Africa free trade area.
The climate talks (COP27) in Sharm El-Sheikh, Egypt this November come at a time when momentum on the African Continental Free Trade Area (AfCFTA) is picking up with the recent launch of the guided trade initiative – an initial pilot of eight African countries trading under the treaty’s preferential terms.
Kenyan traders buy Ethiopian miraa for Somalia market on high costs.
Miraa traders have shifted to Ethiopia as a source market for the stimulant, where they are buying nearly half of the allocated quota for the Somali market as high costs in Kenya force them to abandon the local crop.
The traders said they procure at least 40 percent of the 19 tonnes that the Somali market has allowed Kenyan business people to export to Mogadishu from Ethiopia, denying Kenya millions of shillings in earnings.
ILO, others seek protection of labour rights under AfCFTA.
The International Labour Organisation (ILO), Organisation of Trade Unions in West Africa (OTUWA) and International Trade Union Confederation (ITUC) have called for the protection of labour rights when the African Continental Free Trade Area Agreement (AfCFTA) takes off.
https://guardian.ng/news/ilo-others-seek-protection-of-labour-rights-under-afcfta/
Europe scrambles for African gas.
The African Union is pushing for more investment in fossil gas projects at the COP27 climate conference as European leaders seek alternatives to Russian gas imports.
Caught in an energy crisis and hungry for alternatives to Russian gas, European leaders have spent months eyeing fossil fuel projects across Africa.
https://www.dw.com/en/africa-gas-europe-cop27/a-63719525
Trade Finance in West Africa – A Study of Côte d’Ivoire, Ghana, Nigeria, and Senegal, WTO – IFC, October 2022.
Côte d’Ivoire, Ghana, Nigeria, and Senegal—the ECOWAS4—are making progress in integrating their economies internationally through trade. The number of firms participating in international markets is growing, and exporters in some countries are becoming more competitive, expanding into new products, and reaching new destinations.
WEEKLY INFORMATION
4 NOVEMBER, 2022.
Will Dispute Settlement Proceedings be a feature of the AfCFTA?.
It will be a major advance towards rules-based trade if the AfCFTA Dispute Settlement Protocol will be used by the State Parties. They do not settle disputes about trade and regional integration obligations through adjudication. The result is often lingering legal uncertainty.
How PAPSS will revolutionise free trade in Africa.
The ratification of the African Continental Free Trade Agreement (AfCFTA) in 2020 presented an opportunity to revolutionise Africa’s economy.
The primary goal is to increase intra-Africa trade by eliminating trade barriers like import and export taxes. Despite the impressive stride of the AfCFTA, barriers like border delays, high tariffs, infrastructural deficits, and the high cost of cross-border payments continue to impede regional integration.
https://guardian.ng/opinion/how-papss-will-revolutionise-free-trade-in-africa/
OHCHR recommends explicit recognition of AfCFTA on women in Africa.
As Human rights impact assessments, help identity, analyze, and monitor the impact of trade agreements on the environment and on the ability of people to enjoy human rights, the Office of the High Commissioner for Human Rights (OHCHR) recommends that the role of women in trade within the continent and their impact on the AfCFTA should be explicitly recognised.
Five things hindering businesses from seizing AfCFTA benefits.
As there have been various efforts geared towards the implementation of the African Continental Free Trade Agreement (AfCFTA), calls continue to grow for the private sector to step up and leverage the available opportunities.
Inclusion of green initiatives in #AfCFTA National Implementation Strategies of 20 African Countries.
The signing of the agreement establishing AfCFTA in #Kigali, #Rwanda, in 21st March 2018 was a key milestone for Africa’s trade Agenda.
The objective of the AfCFTA National Implementation Strategies is to bolster trade and investment with AfCFTA states, in order to support inclusive economic growth and sustainable development.
This project seeks to identify green value chain opportunities and climate change adaptation needs in selected African countries, in order to foster green export opportunities within the AfCFTA.
Kenya Prepares Its MSMEs To Harness Opportunities Under AfCFTA.
The East African nation of Kenya is one of African countries making history to export under the AfCFTA Guided Trade Initiative (GTI) which was launched on the 7th of October, 2022 by exporting Kenyan made batteries and Kenyan produced tea to Ghana in West Africa.
https://newsghana.com.gh/kenya-prepares-its-msmes-to-harness-opportunities-under-afcfta/?amp
Africa emerging as major apparel supplier; exports cross $2 bn in Q1.
Africa is emerging as a major apparel producing and supplying hub in the world. Textile manufacturing is now shifting from Asia to Africa due to cost saturation in the former continent, said experts at the Asian Sustainable Textile Summit last month. Apparel exports from Africa crossed $2 billion for the first time in the first quarter (Q1) of this year.
“Safely open Africa’s Borders,” ECA Panel at AU Policy Conference.
Tangier, 26 October 2022 (ECA): Regional integration and trade experts convened by ECA at the ongoing AU Tangier Policy Conference have concluded that trade, industrialization and infrastructure are critical to peace and security in Africa and that the freedom of movement of people within Africa will cement AfCFTA and deepen regional integration, peace and security of the continent.
WEEKLY INFORMATION
28 OCTOBER, 2022.
Kenyan truckers not ‘gravely’ affected by Ebola lockdown in Uganda.
Kenyan truckers have not been affected by the Ebola-imposed lockdown in two districts in Uganda as the outbreak of the deadly disease continues to spread in the neighbouring state.
The Kenya Transporters Association (KTA) says it is, however, keenly following the development in Kampala and the next step of action by the authorities in Uganda.
Sweet and sour future for sugar power in eSwatini.
Facing climate change problems and an ever-increasing demand for energy, almost 100% of the electricity generated in eSwatini is from hydropower and sugarcane-based biomass cogeneration.
https://mg.co.za/environment/2022-10-24-sweet-and-sour-future-for-sugar-power-in-eswatini/
EAC to decide on sanctions against countries blocking trade.
The Minister for East African Community Affairs has said EAC regional cooperation ministers will meet next month to agree on sanctions to be preferred against member states blocking intra-regional trade.
Shareholders ask FG to lift ban on import of products.
Shareholders under the aegis of Independent Shareholders Association of Nigeria, ISAN, have called on the Federal Government to lift the ban on the importation of vital products to be able to benefit from African Continental Free Trade Area (AfCFTA) agreement.
https://www.vanguardngr.com/2022/10/afcfta-shareholders-ask-fg-to-lift-ban-on-import-of-products/
ECA study reveals potential correlation between trade and peace.
Tangier, 22 October 2022 (ECA) – A new study by the UN Economic Commission for Africa (ECA) has made it clearer how trade impacts peace and propels countries towards sustainable development, arguing that trade integration in Africa could also promote humanitarian and security imperatives.
https://www.uneca.org/stories/eca-study-reveals-potential-correlation-between-trade-and-peace
Tourism thought leaders in Africa gather in Botswana to look into intra-Africa travel.
Intra-Africa travel through intra-Africa trade is expected to top the agenda when the tourism industry’s thought leaders on the continent engage in roundtable discussions in Gaborone in Botswana. This as the fifth Africa Tourism Leadership Forum (ATLF) kicks off at the Gaborone International Convention Centre of the Grand Palm Hotel on Monday until Wednesday.
‘AfCFTA can only be successful if there is seamless movement of people’.
Dr. Elasto Hilarious Mugwadi, the chairperson for the Network of African National Human Rights Institutions (NANHRI), has said that Africa Continental Free Trade Area (AfCFTA) can only be successful if there is seamless movement of people, goods and services.
WEEKLY INFORMATION
21 OCTOBER, 2022.
Gambia, Nigeria trade fair will test international market for AfCFTA participation.
Vice President Badara Joof, on Friday, stated that the 1st Nigeria-Gambia trade fair will test the international market for their products and services and reinforce the economic relations between business operators and counterpart agencies in both countries for effective and profitable participation in The African Continental Free Trade Area (AfCFTA), and global trade markets.
Lamu port off to slow start as 13 ships dock in a year.
At the time of its official commissioning in July 2021, Kenya’s second commercial port in Lamu was billed as a game-changer in tra.
Transshipment involves large vessels docking at the port and redistributing their cargo to smaller ships that serve regional ports.
It mainly happens when there is no direct connection between ports.
But so far, only 13 ships have docked at the port, with the latest one being the MV Banyas 1 ship which will transport live animals to Oman today.
Africa’s economy and Russia-Ukraine conflict.
On February 24, 2022, Russia invaded Ukraine at a time when the global economy was recovering from massive job loss, a rise in poverty, and food insecurity. The invasion disrupted the import of Russian and Ukrainian commodities. African countries have had to bear a part of this negative effect as most of them depend on Russia and Ukraine for wheat, mustard oil, and sugar imports. To prevent future exposure, there is an urgent need for African countries to develop stronger trade mechanisms to mitigate the aftershocks of conflict of this magnitude.
https://guardian.ng/opinion/afcfta-africas-economy-and-russia-ukraine-conflict/
Put in Place Institutional, Logistical Support to Reap Benefits of AfCFTA - Trade and Industry Minister Urges African Govts.
The Minister of Trade and Industry, Alan Kyerematen, has called on governments of African countries to put in place the needed institutional and logistical support frameworks to ensure that they collectively reap the full benefits from the implementation of the African Continental Free Trade Area agreement (AfCFTA).
https://allafrica.com/stories/202210100334.html
How African Trade Has Been Transformed By the Pandemic Shocks and the Ukrainian Crisis.
After overperforming in its post-pandemic recovery in 2021, Africa's economic growth will expectedly lag in 2022. IMF projects that growth will drop from 4.6% in 2021 to 3,8%. The global shocks from Russia's invasion of Ukraine Africa's economic prospects.
The high import bills and fuel prices continue to strain import-dependent countries' fiscal and external balance sheets. The strain risks the recent poverty alleviation progress. Consequently, Africa will remain the only developing economic zone and emerging market where per capita incomes will not revert to the pre-pandemic levels by 2023.
After overperforming in its post-pandemic recovery in 2021, Africa's economic growth will expectedly lag in 2022. IMF projects that growth will drop from 4.6% in 2021 to 3,8%. The global shocks from Russia's invasion of Ukraine Africa's economic prospects.
The high import bills and fuel prices continue to strain import-dependent countries' fiscal and external balance sheets. The strain risks the recent poverty alleviation progress. Consequently, Africa will remain the only developing economic zone and emerging market where per capita incomes will not revert to the pre-pandemic levels by 2023.
https://allafrica.com/stories/202210120004.html
First AfCFTA trading - Ghana tiles, Rwanda goods take lead.
Ghana has issued its first certificate of full commercial trading to a ceramic tiles production company to export its products under the African Continental Free Trade Area (AfCFTA) Guided Trade initiative.
African countries delay cross-border trading of securities to December.
African countries have delayed the cross-border trading in listed securities from October to December, Geoffrey Odundo, chief executive officer (CEO) of the Nairobi Securities Exchange (NSE)
Around the world in 9 months: DP World adds new trade routes to open global markets.
DP World added more than 23,000 nautical miles of new trade routes across the globe in the first three quarters of 2022, equivalent to a complete circumnavigation of the earth.