Adopted in Kigali on 21 March 2018, and launched at the AU Summit in July 2019 in Niamey, Niger, the African Continental Free Trade Area (AfCFTA), signed by 54 African states (Eritrea is yet to sign and ratify the agreement), is due to come fully into force with the dismantling of tariffs on 1 July […]
Safaricom, Kenya’s biggest telecoms operator, on Monday made a commitment to waive transaction costs on mobile money transfers under 1,000 shillings ($10) for customers on its mobile money platform, M-Pesa. Also, Airtel Kenya waived transaction charges on transfer from mobile wallet to bank accounts on Tuesday, 17th of March. Airtel also increased the limits subscribers […]
Borrowers can sigh in relief as banks take new measures to cushion individuals and businesses that find themselves in financial distress as a result of the fast-spreading coronavirus (Covid-19). In meeting with President Uhuru Kenyatta at State House on Wednesday, Central Bank of Kenya (CBK) Governor Patrick Njoroge said the deal reached with commercial banks […]
Source: thedti.gov.za One of the immediate tasks of the African Continental Free Trade Area (AfCFTA) is to ensure that the tariff schedule listing all products covered by the agreement for tariff liberalisation and the indispensable rules of origin are finalised to ensure that the implementation date of 1 July 2020 is met. Therefore, the current […]
Source: uneca.org For the detailed documentation (PDF) The Economic Commission for Africa (ECA) on Friday warned the unfolding coronavirus crisis could seriously dent Africa’s already stagnant growth with oil exporting nations losing up to US$ $65 billion in revenues as crude oil prices continue to tumble. Speaking at a Press Conference in Addis Ababa, ECA […]
Trading under the historic African Continental Free Trade Area (AfCFTA) is scheduled to begin on 1 July 2020. Hailed as a game-changing agreement, with the potential to propel Africa’s socio-economic transformation, the AfCFTA will play a significant role in anchoring the 17 SDGs. The UN Economic Commission for Africa (UNECA) has recognized the unparalleled opportunities […]
A senior official of the African Union (AU) has noted that leveraging the African continental free trade area (AfCFTA) contributes to silencing the guns in Africa, through the process of delivering broad-based prosperity on the continent. The 33rd AU summit is being held under the theme, Silencing the Guns: Creating Conducive Conditions for Africa’s Development, […]
In recent years, Sub-Saharan Africa has increasingly traded old friends, like the US and the European Union, for new ones in emerging markets. Since 2006, the region’s exports to the US have declined by 66%, while exports to countries such as Russia and Turkey have doubled and tripled respectively. This shift in partnerships comes as […]
