A flagship project of the African Union’s Agenda 2063, the African Continental Free Trade Area creates a market of 1.2 billion people with a combined GDP of $3 trillion. The Secretariat of the African Continental Free Trade Area (AfCFTA) has officially opened in Accra, Ghana, a major milestone in the full implementation of the free […]
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, […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
Executive Secretary of the United Nations Economic Commission for Africa (ECA), Vera Songwe, on Thursday emphasized the need to boost intra-Africa trade in order to augment Africa’s share in the global trading platform. The ECA chief made the urgent call during a virtual meeting on African perspectives on the World Trade Organization (WTO) and prospects […]
The National Action Committee on African Continental Free Trade Agreement (AFCFTA) has embarked on sensitization programme of Ministries, Departments and Agencies, including industry associations to explain the implications of the AFCFTA agreements and their roles in the implementation. The Senior Special Assistant to the President on Public Sector who also doubles as the Executive Secretary […]
