Long-Awaited Africa Free Trade Area Takeoff Delayed by Six States

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Six countries drawn from three regional economic blocs are yet to ratify the African Continental Free Trade Area (AfCFTA), delaying its implementation more than a year after it was formally launched in January 2021. The AfCFTA, a brainchild…

African Youths Are Catalytic Force to Propel AfCFTA, Says Afreximbank Boss

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The President of the African Export and Import Bank (Afreximbank), Prof. Okey Oramah has identified African youths as the catalytic force that would propel the realisation of the African Continental Free Trade Area (AfCFTA) initiative. Oramah…

Safaricom Sets 3.5pc Fee on New M-Pesa Visa Card Payments

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Safaricom will charge customers 3.5 percent of the value of their online purchases made using the newly introduced virtual card it has launched in partnership with global payments firm Visa. The two firms inked a deal to form the  M-Pesa Global…

28 Banks Join $500m Pan-African Settlement Platform

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One year after the take-off of the African Continental Free Trade Agreement (AfCFTA), no fewer than 28 banks in Africa joined the Pan-African Payment and Settlement System (PAPSS), which took off with a $500m facility with an additional 24 banks…

Nigeria, others lose $5 billion yearly to intra-African trade bottlenecks

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The Chief Executive Officer, Pan African Payment and Settlement System (PAPSS) Afreximbank, Mike Ogbalu, has stated that African businesses lose over $5 billion every year to charges, payments and other related costs to intra-African trade barriers. He…

Local Firms Urged to Tap into AfCFTA

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Local businesses have been urged to take advantage of the African Continental Free Trade Area (AfCFTA) to open themselves up to the opportunities available on the continent. Pan African Chamber of Commerce and Industry (PACCI) executive director,…

Kagame Pushes For AfCFTA Full Realisation at WEF

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President Paul Kagame has said that even with the current trading under the African Continental Free Trade Area (AfCFTA) agreement, there is need to tackle a number of things, especially non-tariff barriers. The head of state was speaking in…

2022 WTPO Conference: AfCFTA eyes continent’s $450 million untapped SME market

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The 13th World Trade Promotion Organizations Conference has opened in Accra with a high panelled forum which is focused on leveraging the economic potential of Small and Medium Enterprises (SMEs) for inclusive growth. Speaking at the Conference…

AfCFTA: Why regional support is crucial for effective implementation

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In order to support the implementation processes of the African Continental Free Trade Area agreement, Regional Economic Communities (RECs) need to make informed choices about how to reap the benefits presented by the agreement, while at the…

PACCI held a meeting with the CEO of African Union Development Agency – NEPAD Mrs. Nardos Bekele – Thomas.

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PACCI held a meeting with the CEO of African Union Development Agency - NEPAD Mrs. Nardos Bekele - Thomas. The New Partnership for Africa’s Development (NEPAD) is a socio-economic flagship Programme of the African Union (AU). NEPAD’s…