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.
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.
WEEKLY INFORMATION
7 OCTOBER, 2022.
Kenya expands tea export market to West, Central Africa.
Kenya has expanded its tea export market to West and Central African trading countries as it seeks to cash in on tea demand in the region.
President William Ruto on Wednesday flagged off the first consignment to Accra, Ghana under the African Continental Free Trade Area (AfCFTA - African Continental Free Trade Area) Guided Trade Initiative.
https://www.the-star.co.ke/news/2022-10-05-kenya-expands-tea-export-market-to-west-central-africa/
Osinbajo, governors to attend Africa Trade Consortium.
The Vice President of Nigeria, Prof. Yemi Osinbajo, governors, President of World Trade Organization, will be among key participants of Africa Trade Consortium (ATC) in Abuja, Nigeria.
The Africa Trade Consortium (ATC), the first edition of an event the forum is organising will be hosted at the Sheraton Hotel, Abuja, Nigeria from October 21 – 22.
https://dailytimesng.com/osinbajo-governors-to-attend-africa-trade-consortium/
An anatomy of the impact of COVID-19 on the global and intra-commonwealth trade in goods.
The article employs gravity modeling to examine the effect of COVID-19 on global and intra-commonwealth trade. It uses bilateral monthly exports, number of COVID-19 cases and deaths and the stringency of measures. The main novelty is the use of price indices as proxies for multilateral resistance terms, which allow us to identify, supply, and demand effects of Covid-19 on bilateral trade. The incidence of COVID-19 impacts commonwealth trade flows, the effect varies with the development level.
https://onlinelibrary.wiley.com/doi/full/10.1111/roie.12637
Women Economic Assembly to bring together private sector in SA.
The theme of WECONA 2022 talks to South Africa’s economic recovery, which is at risk of becoming a futile exercise if women are deliberately excluded from participating in value chains in various sectors.
New report outlines how digital finance can drive women’s economic empowerment in Africa.
Addis Ababa, 3 October 2022 (ECA): A new report reveals persistent barriers in the digital finance sector that limit women’s economic empowerment in Africa, while recommending policy responses to overcome them.
WTO, WCO publication looks at how new technologies can assist cross-border trade.
A joint publication entitled “Study Report on Disruptive Technologies” was launched by WTO Director-General Ngozi Okonjo-Iweala and World Customs Organization (WCO) Secretary-General Kunio Mikuriya at a virtual event today (3 October). The publication reviews how so-called disruptive technologies, such as blockchain, the Internet of Things, artificial intelligence and machine learning, can help to improve the conduct of international trade and border management.
https://www.wto.org/english/news_e/news22_e/publ_03oct22_e.htm
WEEKLY INFORMATION
30 SEPTEMBER, 2022.
AfCFTA Guided Trade Initiative.
The AfCFTA Secretariat is pleased to announce the launch of the AfCFTA Guided Trade Initiative which is scheduled to kick off on the 7th of October, 2022 on the sidelines of the 10th meeting of Ministers responsible for trade. Mark your calendars and stay tuned!
https://twitter.com/afcfta/status/1575405687538073600?s=48&t=waNeqWcSO7OfcbFLNuXDMQ
Over 300 exhibitors set for 17th Abuja Int’l Trade Fair.
The Abuja Chamber of Commerce and Industry, ACCI, Wednesday, disclosed over 300 exhibitors set to participate in the 17th Abuja International Trade Fair, AITF, in the nation’s capital, Abuja.
https://www.vanguardngr.com/2022/08/over-300-exhibitors-set-for-17th-abuja-intl-trade-fair/amp/
AfCFTA moves to pull women and youth into trade with new protocol.
The African Continental Free Trade Area (AfCFTA) is building a fund and drafting a protocol to ensure participation of more women and youth in trade.
This week, AfCFTA Secretary General Wamkele Mene said the fund, created through the Afreximbank and known as the AfCFTA Adjustment Facility, will be used to cushion countries from short-term revenue losses once they lift tariff barriers for cross-border trade.
Kenya starts cashing in on Africa free trade.
Kenya has shipped its first consignment of locally made batteries to Ghana, two months after it was picked among seven countries to pilot the continental free trade area that seeks to unlock the movement of goods and services in Africa.
The Kenyan-made Exide batteries worth Sh9.24 million ($77,000) landed in Ghana last week, marking a formal start of preferential trading under the Africa Continental Free Trade Area (AfCFTA) framework.
https://www.businessdailyafrica.com/bd/economy/kenya-starts-cashing-in-on-africa-free-trade-3961556
South Sudan Hopes Planned Port in Djibouti Will Increase Market Access, Profits.
JUBA, SOUTH SUDAN —
Officials in South Sudan confirmed this month they have bought land on the coast of Djibouti to build a port. South Sudan says the port will be key for exporting the country’s crude oil, which currently goes through Sudan, as well as for importing goods, most of which come through the Kenyan port of Mombasa.
EABC Board Outlines New Business Priorities For Intra-Eac Trade Growth & Economic Resilience.
Chairperson Ms. Angelina Ngalula stated that the Board is steadfast in steering high-level policy advocacy through dialogue with the EAC Heads of State to unlock Non-Tariff Barriers, restrictions to free movement of services, double taxation, open skies, telecommunications and infrastructure development in order to boost intra-EAC trade and economic resilience amid the global crisis.
WEEKLY INFORMATION
23 SEPTEMBER, 2022.
African Development Bank launches new tools for SMEs to tap opportunities for green investment.
The African Development Bank has released a series of toolkits to assist small and medium enterprises in tapping green investment opportunities contained in countries' Nationally Determined Contributions (NDCs) under the Paris Agreement.
Uganda furious at EU for censuring oil project over rights abuse.
The Ugandan parliament has dismissed a resolution by the European Union (EU) parliament to halt the development of the country's oil sector, citing environmental concerns and human rights abuses, as economic racism.
Thomas Tayebwa, deputy Speaker of the Ugandan parliament, said the motion by the EU parliament seeks to curtail the progress of Uganda's oil and gas developments and by extension, the country's socio-economic growth and development.
S. Sudan to build harbour in Djibouti as onslaught on Mombasa port continues.
South Sudan has bought a piece of land in Djibouti for the construction of a harbour in its latest effort to find an alternative to the port of Mombasa which is facing an onslaught from Dar-es-Salaam.
South Sudan has bought three acres of land at the port of Djibouti for the construction of a facility that will handle its import and export goods as Juba seeks to cut reliance on Mombasa.
The latest development comes just two months after the Chamber of Commerce in South Sudan said it will shift its cargo to the port of Djibouti, which it termed as convenient for the Africa’s youngest State.
https://www.businessdailyafrica.com/bd/economy/sudan-to-build-harbour-in-djibouti-3953194
WEEKLY INFORMATION
16 SEPTEMBER, 2022.
Tailors, dressmakers to take advantage of AfCFTA.
The Bono East Regional Minister, Kwasi Adu-Gyan, has urged tailors and dressmakers to be creative and competitive in their fashion designs and styles to be able to penetrate the African Continental Free Trade Area (AfCFTA).
He said this on Saturday at the First Annual Bono East Regional Conference of the Ghana National Tailors and Dressmakers Association (GNTDA), at Nkoranza on the theme, “clothing Africa beyond, the role of Bono East tailors and dressmakers.”
Liberia: Vice President Howard-Taylor Addresses AfCFTA Conference; Calls for the Creation of Separate AfCFTA for Gender Issues.
Vice President Jewel Howard-Taylor has addressed the African Continental Free Trade Agreement (AfCFTA) conference on women and youth scheduled for September 12th to 14th, 2022 in Dar Es Salaam, the United Republic of Tanzania.
Speaking at the conference’s opening session, Madam Vice President called for the creation of the AfCFTA Secretariat for Gender Mainstreaming of women and youth, which will focus on the formulation of specific policies to enhance the empowerment of women and youth.
Namibia and Botswana remove a barrier to freedom of movement, abolish the use of passports.
One of the main initiatives of the African Union’s Agenda 2063, which aims to remove barriers to Africans’ freedom of movement, employment, and residence on their continent, is the free mobility of Africans within it.
Nationals of Namibia and Botswana will no longer require passports to travel between the two nations.
The neighbouring nations of Botswana and Namibia have cordial relations and collaborate on economic growth.
https://theexchange.africa/countries/namibia-botswana-abolish-passports/
The @ATPC2 media training on @AfCFTA was designed to cover all corners of #Africa and in various languages, says @ECA_OFFICIAL's @Yadeyemi at end of 3-day workshop for French-speaking African journalists #AfCFTA #training #media
https://lnkd.in/dwBQrU2P
Why harmonised logistics will spur intra-Africa trade.
Regional trade across the globe is a complex interaction between people, companies and organisations. Supply chains traverse countries and regions. Trade has become an everyday business, and its performance largely depends on connectivity by roads, rail and sea, telecommunications, financial markets and information processing.
Despite such knowledge of what facilitates trade, Africa’s regional trade potential remains under-exploited. The World Bank notes that trade between countries on the continent represents 12 percent of the total economic activity compared to 40 percent in Asia and 60 per cent in Europe.
Malawi’s intra-Africa trade rises to 32%, boosted by AfCFTA — Brookings study.
Trade exchange between Malawi and other countries in the African region has improved over the years, with statistics showing that Malawi now accounts for 32% of intra-Africa trade
A recent study published by Brookings Institution Africa Growth Initiative indicates that at 32%, Malawi ranks on position seven out of 13 countries that have improved performance, with Eswatini, formerly Swaziland, claiming 85% share of intra-Africa trade. This means that opportunities for Malawians to generate revenues through trade have improved over time, countering a previous narrative and data that the country’s intra-Africa trade is low.
State banks on Africa free trade area to grow country's exports.
The government has renewed efforts to expand trade across the continent through the five-year National Africa Continental Free Trade Agreement (AfCFTA) Implementation Strategy (2022-27). A Ministry of Trade policy brief released in August this year noted that the AfCFTA is a game changer and a key engine of economic growth and industrialisation for sustainable development.
Maiden conference for women and youth in trade on #AfCFTA soon.
The Secretary General of the African Free Continental Trade Area (AfCFTA), H.E. Wamkele Mene, will be holding a historic Conference in Tanzania from September 12 – 14, 2022 to demonstrate their commitment to the inclusion of Women and Youth in the AfCFTA.
The conference, slated for the Julius Nyerere International Convention Center in Dar es Salaam will be under the theme “Women and Youth: The Engine of AfCFTA Trade in Africa”.
https://newsghana.com.gh/maiden-conference-for-women-and-youth-in-trade-on-afcfta-soon/?amp
African countries need regional integration to manage external shocks.
African countries have to work actively together to drive regional integration and minimize the adverse impact of external shocks like the Russia-Ukraine war, Peter Olowononi, head, of client relations, Anglophone West Africa at the African Export-Import bank has said.
WEEKLY INFORMATION
9 SEPTEMBER, 2022.
EAC Secretariat reaffirms commitment to infrastructure developemnt to boost intra-regional trade.
The East African Community (EAC) Deputy Secretary General in charge of Planning and Infrastructure, Eng. Steven Mlote, has reaffirmed the commitment of the EAC Secretariat to infrastructure development aimed at boosting intra-regional trade and free movement of persons across the Community’s seven (7) Partner States.
Tighten tax on international trade – Government advised.
The Executive Secretary of the African Tax Administration Forum, Logan Wort, is pressing on African governments to tighten tax on international trade and increase investments in digital tax collection systems.
According to him, this has become necessary due to the gradual shift in the use of technology over the years, which is partly attributed to the Covid-19 pandemic.
https://www.myjoyonline.com/tighten-tax-on-international-trade-government-advised/
1,500 Delegates to Participate in Maiden AfriCaribbean Trade and Investment Forum.
Over 1,500 delegates from 93 countries have registered to participate in the first-ever AfriCaribbean Trade and Investment Forum, ACTIF2022.
It will held at the Lloyd Erskine Sandiford Centre in Bridgetown, Barbados, from September 1 to 3, 2022.
Barbados' Prime Minister. Mia Amor Mottley; President Chandrikapersad Santokhi of Suriname, Chairman of CARICOM; and Amadou Hott, Minister of Economy, Planning and International Cooperation, Republic of Senegal are expected to address the forum.
https://allafrica.com/stories/202209010454.html
Boosting Intra-African Trade Will Power Post-Covid-19 Recovery and Foster Food Security.
The COVID-19 pandemic is disrupting Africa's development trajectory. It is exacting a substantial socio-economic toll and putting the survival of half of the continent's micro, small and medium-sized enterprises (MSMEs) at risk. Four in five African businesses are witnessing a dramatic reduction in sales.