AfCFTA Secretariat set to establish protocol on digital trade this month, says Wamkele Mene
The secretary general of the African Continental Free Trade Area (AfCFTA) Secretariat, has said the secretariat is set to establish a protocol on digital trade this month.
Mene said the protocol on digital trade is aimed at supporting the African youth to thrive in the continent’s digital space.
Implementing the Trade Facilitation Agreement should boost trade among African Continental Free Trade Area members
The main objective of the African Continental Free Trade Area is to eliminate trade barriers and boost intra-Africa trade. This column argues that implementing the Trade Facilitation Agreement’s provisions would be a powerful complement to the free trade area’s tariff-reduction agenda.
AfCFTA: Women-led businesses to get 10% subsidised interest rate
Women-led businesses in the country interested in exporting under the Africa Continental Free Trade Area (AfCFTA) will be given bank loans at a subsidiSed interest rate of 10 percent, Ashanti Regional Director, Ministry of Trade and Industry, Mamuda Osman, has said
According to him, this is part of governments effort to support women in business so they can export to the continental market, since the role of women in nation building must not be underestimated.
https://thebftonline.com/2024/01/18/afcfta-women-led-businesses-to-get-10-subsidised-interest-rate/
AfCFTA to introduce Digital Trade Protocol to further boost Africa’s economy
The African Continental Free Trade Area (AfCFTA), is set to introduce a Digital Trade Protocol to further boost Africa's economy.
This was revealed by Secretary General of the African Continental Free Trade Area (AFCFTA), Wamkele Mene at a Wall Street Journal event dubbed ‘Trade's Transformative Power'.
A continental Conference on the African Continental Free Trade Area (AfCFTA) explores strategies for peer learning to accelerate emergence of the African single market
The United Nations Economic Commission for Africa, through its African Trade Policy Centre (ATPC), and in partnership with the African Continental Free Trade Area (AfCFTA) Secretariat and the United Nations Development Programme (UNDP), organized the first conference on AfCFTA implementation strategies, titled: AfCFTA Implementation Strategies: Towards an Implementation Peer Learning Community.
Customs Service Partners With AfCFTA Secretariat For Better Trade Initiative
The Comptroller-General of the Nigeria Customs Service, Bashir Adewale Adeniyi MFR, has expressed readiness to partner with the African Continental Free Trade Area (AfCFTA) Secretariate for enhanced trade facilitation in the African Continent.
The CGC made this known on Monday, when he received members of AfCFTA at the Customs Corporate Headquarters in Abuja.
ANALYSIS: The African Union could become irrelevant. This is why
The African Union (AU) is not living up to expectations – and member states are partly to blame, according to AU Commission (AUC) Chairperson Moussa Faki. He says they are using their sovereignty to avoid relegating powers to the commission. As the sum of all individual African countries, the AU’s strength depends on the power member states give it to implement their decisions.
Inclusion of Women and Land Rights as an avenue to accelerate the AfCFTA
Collective action in the form of women’s groups has greatly benefited women in negotiating access to land While it is clear that there is a direct link between productivity, trade and economic growth – a recurring question at the recent Conference on Land Policy in Africa is, what does it mean in terms of tradeoffs and transitions - especially for women.
Media in Africa Called Upon to Own The AfCFTA and its Implementation
Top media personalities across Africa have called for the formation of a pan-African group of trade journalists who will champion the AfCFTA agenda as well as an African Chamber of Commerce led by individual countries.
The group of journalists were of the view that the formation of such a body is the surest way to sensitise the continent on the merits of the AfCFTA.
https://allafrica.com/stories/202312200126.html
UNECA boss Gatete talks AfCFTA and how global credit facilities can work for Africa
The past three years, characterized by global shocks, have been eye-opening economically for African governments in terms of building resilient but sustainable mechanisms for development.
Africa: Media in Africa Called Upon to Own The AfCFTA and its Implementation
Top media personalities across Africa have called for the formation of a pan-African group of trade journalists who will champion the AfCFTA agenda as well as an African Chamber of Commerce led by individual countries.
The group of journalists were of the view that the formation of such a body is the surest way to sensitise the continent on the merits of the AfCFTA.
They spoke at a webinar hosted jointly by the African Prosperity Network (APN), organisers of the Africa Prosperity Dialogues (APD), and the Africa Continental Free Trade Area (AfCFTA) secretariat in Ghana on Tuesday (December 19, 2023).
Latest developments on the AfCFTA
This year’s priority: Acceleration
The African Union’s theme for 2023 is “Year of AfCFTA: Acceleration of AfCFTA Implementation.” And with good reason. A flagship project of the AU, the African Continental Free Trade Area (AfCFTA) offers an unprecedented opportunity to realize a more integrated and prosperous continent as envisioned in the AU’s Agenda 2063, Africa’s framework for structural transformation.
Nigerians unaware of all opportunities under AfCFTA – Stakeholders
Stakeholders have said that Nigerians are not harnessing all the opportunities offered by the African Continental Free Trade Agreement.
These stakeholders who spoke on Tuesday, during a roundtable on the AfCFTA and Trade-in-Services, organised by the Center for International Private Enterprise, revealed that there are opportunities to render services under ACFTA for economic gains.
https://punchng.com/nigerians-unaware-of-all-opportunities-under-afcfta-stakeholders/
Operational Phase Of The African Continental Free Trade Area Launched
The 12th Extraordinary summit of the African Union which was held in Niamey on the 7th of July 2019 was a momentous occasion for Africa, as it saw the successful launching of the operational phase of the African Continental Free Trade Area (AfCFTA). The AfCFTA agreement was adopted and opened for signature on 21 March 2018 in Kigali and entered into force on 30 May 2019.
https://au.int/en/articles/operational-phase-african-continental-free-trade-area-launched
Somalia embraces the AfCFTA, validates its National Strategy
The Ministry of Commerce and Industry of Somalia, in collaboration with the Economic Commission for Africa (ECA), convened a validation meeting of its AfCFTA implementation...
30 countries to begin trading under AfCFTA next year
African Commodity Exchanges unite to boost trade and combat food insecurity.
In a landmark move aimed at revitalizing intra-African trade and combating food insecurity, commodity exchanges across the continent have joined forces to establish the AfCFTA Association of Commodity Exchanges under the AfCFTA Guided Trade Initiative.
This groundbreaking initiative was announced at the Intra-Africa Trade Fair 2023, held in Cairo, Egypt.
East Africa's exports to the rest of the continent hit $9 billion.
Statistics show that total intra-EAC trade grew by approximately 11.2 percent to $10.9 billion in 2022 from $9.8 billion in the previous year.
Egypt’s Trade Minister calls for accelerating AfCFTA activation
Minister of Trade and Industry Ahmed Samir highlighted the importance of accelerating the implementation and activation of the African Continental Free Trade Area (AfCFTA) as it is an essential axis of increasing intra-African trade rates.
Truworths boss says textile industry cannot benefit from AfCFTA
TRUWORTHS Limited chief executive officer Bekithemba Ndebele says the local textile industry is too decimated to benefit from the African Continental Free Trade Area (AfCFTA) as over 90% of formal manufacturers have shut down.
Standard inspectors to support AfCFTA controls – Standards Authority
A Marketing Officer at the Northern Regional Office of the Ghana Standards Authority, Mahamud Misbaw, has stated that the recently commissioned Trading Standards Inspectors (TSI) of the Ghana Standards Authority will play a crucial role in checking AfCFTA controls at various markets nationwide.
https://www.myjoyonline.com/standard-inspectors-to-support-afcfta-controls-standards-authority/
New deal for African, US companies to partner under AfCFTA
As AGOA is set to expire in 2025, African Ministers of Trade expressed the need for urgent renewal of AGOA with non-controversial amendments for a minimum of 10 years to provide the required predictability and certainty to the markets.
They urged that the review of the AGOA eligibility criteria should be more inclusive by including MSMEs, women, and youth.
AGOA, AfCFTA can be complementary
Secretary General of the African Continental Free Trade Area (AfCFTA), Wamkele Mene, says the United States of America's African Growth and Opportunity Act (AGOA) initiative and the AfCFTA can be complementary and supportive trade initiatives.
He was speaking at a media briefing on the side lines of the ongoing hashtag#AGOA forum held in Johannesburg.
https://www.sanews.gov.za/south-africa/agoa-afcfta-can-be-complementary
How ambitious AfCFTA implementation can drive agricultural trade growth for Africa. More sophisticated non-tariff measures, coupled with environmental and climate provisions, will help deepen Africa’s agricultural trade. Dr Ousmane Badiane, executive chair of AKADEMIYA2063, explains the findings of a recent report.
Full implementation of AfCFTA will increase intra-Africa trade value to $195 billion by 2045
The Economic Commission for Africa (ECA) has said that the full implementation of the free trade area will increase the value of intra-Africa trade to $195 billion by 2045.
This is contained in a statement issued by the communication department of the ECA.
A year of trading under AfCFTA – a Rwandan businesswoman’s story
Rwanda exported its first consignment of goods to Ghana, on September 30, 2022, under the African Continental Free Trade Area (AfCFTA) Guided Trade Initiative aimed to kick off commercially meaningful trade across the continent.
Chemicals, cosmetics sectors to benefit from AfCFTA
The chemicals, cosmetics, plastics and pharmaceutical sectors are set to get acquainted with the benefits offered under the African Continental Free Trade Area (AfCFTA).
https://www.sanews.gov.za/south-africa/chemicals-cosmetics-sectors-benefit-afcfta
Cross-border barriers bar Nigeria from $450bn AfCFTA initiative
Despite the immense benefits of the African Continental Free Trade Agreement, the Nigerian private sector has lamented that many trade restrictions and logistics challenges have been hampering the country from harnessing the potential of the trade agreement, Oluwakemi Abimbola reports
https://punchng.com/cross-border-barriers-bar-nigeria-from-450bn-afcfta-initiative/
ECOWAS adopts strategy for accelerated AfCFTA implementation in region
The Economic Community of West African States (ECOWAS) has adopted a regional strategy to accelerate the implementation of the African Continental Free Trade Area (AfCFTA) agreement in the ECOWAS region and leverage on opportunities for growth and prosperity.
https://guardian.ng/news/ecowas-adopts-strategy-for-accelerated-afcfta-implementation-in-region/
African Union intensifies efforts to foster growth of start-up ventures in Africa.
The African Union led by the Department of Economic Development, Trade, Tourism, Industry, and Minerals(ETTIM) is set to host the second edition of the annual African Union Micro Small and Medium Enterprises (MSME) Forum from the 4th -8th September 2023 at the AU Head quarter in Addis Ababa, Ethiopia. The forum will focus on "Start-up Acts: An Instrument to Foster Development and Innovation in Africa," delving on the importance of policies that serve as incentives for young people to start a venture, investors to put their money into promising companies, and other ecosystem actors to lend their support in start-up enterprises.
https://au.int/en/pressreleases/20230901/au-intensifies-efforts-foster-growth-start-ventures-africa
BRICS+6 to control 30% of global GDP, 46% population
The new members will become part of BRICS effective January 1, 2024.
The acronym BRICS was originally coined in 2001 by Goldman Sachs economists led by Jim O'Neill. Later in December 2010, South Africa was added as the fifth member.
Currently, the five-member grouping is home to 40 per cent of the world's population which controls 26 per cent of the global GDP.
But with the six new members (BRICS+6), their GDP share will jump to 30 per cent and share of population will go up to 46 per cent.
AfCFTA: Traditional institution, key to successful implementation
Multiple award-winning filmmaker and producer, David Akwara has made the case for the involvement of royal fathers and traditional institutions in the implementation of the Africa Continental Free Trade Area (AfCFTA) agreement.
How can AfCFTA’s $10bn fund benefit Rwandan women, youth traders?
Rwandan women and youth traders should seize the various opportunities provided by the African Continental Free Trade Area (AfCFTA) ‘Adjustment Fund’, Denis Karera, a businessman and Vice Chairperson of East Africa Business Council (EABC), has said.
Private sector urged to unlock AfCFTA trade opportunities
Africa’s private sectors need to accelerate efforts to unlock the potential trade opportunities lying within the African Continental Free Trade Area (AfCFTA), delegates attending the second edition of the Golden Business Forum in the Rwandan capital city of Kigali said Wednesday.
https://neweralive.na/posts/private-sector-urged-to-unlock-afcfta-trade-opportunities
AfCFTA: Five challenges limiting youth from engaging in trade
For the success of the African Continental Free Trade Area (AfCFTA), which is expected to create a market of 1.3 billion people with a combined GDP of $3.4 trillion, the participation of about 65 percent of the continent’s population under 35 years is paramount.
This imperative was underscored at the inaugural AfCFTA Youth Symposium themed “Igniting the Future for Youth in Trade,” held from August 21 to 23 in Zambia. The symposium brought together young leaders and entrepreneurs to discuss strategies for harnessing AfCFTA's potential.
Nigeria to join continental trade initiative — AfCFTA’s boss
The Executive Secretary, National Working Committee, African Continental Free Trade Area, Nigeria, Segun Awolowo, has expressed the readiness of the country to join the second phase of the Guided Trade Initiative.
The initiative by AfCFTA is a solution-oriented approach that aims to facilitate trade between interested state parties by connecting businesses and products for export and import.
https://punchng.com/nigeria-to-join-continental-trade-initiative-afcftas-boss/
Five things African countries can do to optimize AfCFTA
The forum under the theme Creating African Wealth under the African Continental Free Trade Area, is bringing together over 1000 delegates to among others identify and facilitate business opportunities across Africa, as well as promote engagement between developers, investors and financiers.
The AfCFTA, being the world’s largest trade bloc, experts said, is crucial in setting the stage for increased integration, competitiveness, economic diversification, and investment in African economies.
AfCFTA to Identify Comparative Advantage of Northern Region
A regional conference and stakeholder engagement on the implementation of the African Continental Free Trade Agreement (AfCFTA) has been held to identify the peculiar comparative advantages of the Northern Region, which can be brought to bear in trying to harness the benefits of the AfCFTA.
How AfCFTA can strengthen regional value chains and SMEs growth
Earlier this month, United Bank for Africa (UBA) Plc, signed an agreement with the Africa Continental Free Trade Area (AfCFTA) Secretariat to provide financing to Small and Medium scale Enterprises (SMEs) across Africa. This partnership seeks to address a critical challenge hindering SME growth on the continent: the lack of financial access and other obstacles such as non-tariff barriers, inadequate infrastructure, digital technology adoption, limited logistics networks, and regulatory disparities across countries. The AfCFTA is actively addressing these challenges, aiming to unlock the full potential of SMEs and drive their growth, while strengthening Africa’s regional value chain.
#vacancy @ African Development Bank Group
Position: Chief Communications Specialist (PCSC).
Deadline: 03-Sep-2023
https://www.afdb.org/en/vacancy/chief-communications-specialist-pcsc-63574
Zenith Bank and Afcfta Sign Agreement to Develop SMARTAfCFTA Portal
Zenith Bank Plc have signed a Memorandum of Understanding (MoU) with the African Continental Free Trade Area (AfCFTA) Secretariat for the development of the SMARTAfCFTA Portal, for trade promotion within the African continent.
The SMARTAfCFTA Portal, which has the capacity to provide information like trade indicators, market trends, custom tariffs, trade agreements, rules of origin, market access requirements of relevant jurisdictions, export potentials, export diversification indicators and contact details of business partners in target markets and other trade-related information about Africa, will help to unlock the vast opportunities for trade on the African continent.
Ghana launches AFCTA trade expedition to Tanzania.
AFRICAN Continental Free Trade Area (AfCFTA) is collaborating with Ghana’s National AfCFTA Coordination Office (NCO) to undertake a trade expedition in Tanzania next month.
The National Coordinator of Ghana’s ACTA Coordination, Dr Farred Arthur, said in Dar es Salaam during the launching of the AFCTA trade expedition to Tanzania that the move envisaging to strength economic ties between Ghana and Tanzania.
https://dailynews.co.tz/ghana-launches-afcta-trade-expedition-to-tanzania/
Intra-EAC trade down by $1.8bn on barriers, taxation.
East African economies are losing millions of dollars as stiff trading policies, including slow implementation of agreed taxation rules, yet again force a drop in intra-regional commerce.
A new report on regional commerce shows that policymakers have not been putting their words into action, agreeing on significant policies but delaying implementation.
AfCFTA: Why Nigeria’s missing, as 8 countries commence guided trade.
Nigeria’s absence from the from the first batch of participating countries under the Guided Trade Initiative (GTI) of the Africa Continental Free Trade Area (AfCFTA) has been attributed to failure to meet the minimum requirements for trade under the agreement.
African Union, ImpactHer invites participants for its fully-funded digital, financial training.
The African Union International Centre for the Education of Girls and Women in Africa and ImpactHer is organising a one-month online digital, financial and entrepreneurship training program for interested individuals.
The pilot phase of the Online Youth Capacity Building Training Program (OYCBT) concluded in June 2023, and the next phase will begin in August and run until December.
Chamber rolls out Amharic AfCFTA 101 to boost free trade awareness.
The Ethiopian Chamber of Commerce & Sectoral Associations is hoping a new Amharic course on the African Continental Free Trade Area (AfCFTA) will supercharge awareness of the potentially game-changing trade deal among local businesses.
In an effort to boost awareness of the AfCFTA among businesses, the Chamber is launching an online education platform in the local language.
Joint Communique on Africa’s Digital Economy Ministerial Forum.
#Auniquei #digital #economy #africa
https://atuuat.africa/2023/02/07/joint-communique-on-africas-digital-economy-ministerial-forum/
Aliko Dangote Speaks
Borders and Visa Policies kill trade and development in Africa.
President Muhammadu Buhari Appoints Olusegun Awolowo As The Secretary, National Action Committee On The Afcfta.
President Muhammadu Buhari has approved the appointment of Mr Olusegun Awolowo as Secretary, National Action Committee on the African Continental Free Trade Area (AfCFTA) for a tenure of four years.
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
Copyright © 2024 AUNIQUEI - All Rights Reserved.