Entries by Hanin Abdulrazzaq

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Africa: Afreximbank $400m to Drive Agricultural Productivity

The African Export Import Bank (Afreximbank) approved a $400-million revolving global credit facility agreement for the Export Trading Group (ETG). Export Trading Group (ETG) is among the largest and fastest-growing integrated agricultural conglomerates in Africa. The funds will address key challenges faced by African agricultural exporters, aggregating large values of produce in order to enable […]

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AfDB offers $5m grant to establish African Continental Free Trade Area secretariat

The African Development Bank Group (AfDB) has awarded a $5m institutional support grant to the African Union (AU) for the establishment of the African Continental Free Trade Area (AfCFTA) secretariat. The secretariat is to be located in the central business district of the Ghanaian capital, Accra. Solomon Quaynor, the Bank’s Vice-President for the Private Sector, […]

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In wake of COVID-19, African Union to keep AfCFTA on track with digital technology

Since the advent of the Covid-19 pandemic, the AU Commission, like most intergovernmental organisations around the world, has shifted most of its activities online. In this context, the Commission believes that for the current AfCFTA operationalisation timeline of 1st January 2021 to be met, and the decision of African Leaders on the fast-tracking of processes […]

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Ghana hands over AfCFTA headquarters to the African Union

The Ghanaian government on Monday 17th August, officially commissioned and handed over the headquarters of the African Continental Free Trade Area (AfCFTA) Secretariat to the African Union in the Ghanaian capital Accra. The handover ceremony was attended by Ghanaian President Nana Akufo-Addo, African Union Commission Chairman Moussa Faki Mahamat and AfCFTA Secretary-General Wamkele Mene. In […]

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Trade Pact Could Boost Africa’s Income by As Much As $450 Billion – World Bank

The African Continental Free Trade Area represents a major opportunity for countries to boost growth, reduce poverty, broaden economic inclusion and help “expand opportunities for all Africans”, hailed a World Bank official, which if fully implemented, could boost regional income by around $450 billion. By making African countries more competitive and lifting some 68 million […]

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ECA report urges African countries to harmonize trade and transport regulations in the fight against COVID-19

The Regional Integration and Trade Division (RITD) at ECA has released a new report entitled “Facilitating Cross-Border Trade through a Coordinated African Response to COVID-19”. The report provides a critical assessment of existing border restrictions and regulations, with a view to providing guidance on how to strike an appropriate balance between curbing the long term spread of […]

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Eritrea defends decision to sit out Africa free trade pact

Eritrea on Tuesday explained why it has not signed up for the African Continental Free Trade Area, AfCFTA. The Horn of Africa nation remains the only country yet to sign the agreement let alone deposit instruments of ratification as of July 2020. According to Information Minister, the country’s posture is ingrained in the government of […]

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Ghana positions to become auto hub in AfCFTA era

Finance Minister Ken Ofori-Atta has announced the planned establishment of an Automobile Industry Development Centre to coordinate licensing of vehicle assemblers and manufacturers, and monitor their compliance with industry regulations. With the expected implementation of the African Continental Free Trade Area (AfCFTA) once the COVID-19 pandemic is brought under control, Mr. Ofori-Atta said the establishment […]