‘Commitment to agric spending will aid market penetration under AfCFTA’
Africa’s leaders should honour their commitment to allocate 10 percent of their budgets to agriculture if the continent is to improve food security, reduce poverty and spur economic growth, says Economic Commission for Africa’s (ECA) Batanai Chikwene.
Obasanjo urges African nations to ratify free trade pact
Former President Olusegun Obasanjo yesterday in Cairo, Egypt urged all African countries to quickly ratify the African Continental Free Trade Agreement...
‘AfCFTA ratification hinged on resolution of modalities for restricted goods’
Inability of African Union member-states to address the modalities of the restricted goods under the technical negotiations for the African Continental Free Trade Area (AfCFTA) may be responsible for the stall in ratification of the trade deal. This insight was revealed at the inaugural Intra-African Trade Fair in Cairo, Egypt. With members agreeing to liberalise…
Creation of three new bodies boosts arbitration growth in Africa
Africa's economic growth is picking up pace and is expected to reach 6.3 per cent in East Africa and 3.4 per cent in Sub-Saharan Africa by the end of this year.
How Nigeria’s economic woes hobble continental integration
Nigeria’s economic structure, dominated by commodities and primary products offerings, with a slow-paced, but painful infrastructure development strategy, is now running against its plans to participate in the continent’s market integration agenda.
MAN, NACCIMA, others differ on AfCFTA pact signing
The Manufacturers Association of Nigeria (MAN) has restated the need for Federal Government to thread with caution in appending signature to the African Union Continental Free Trade Area (AfCFTA). The association specifically warned that Nigeria should not sign the AfCFTA agreement based on bandwagon effect or on the ground of diplomatic niceties. Director-General of MAN,…
AfCFTA as Nigeria’s economic tsunami - Part 2
And now AfCFTA seeks to increase “internal” trade in a continent with structural problems of low complementarity of tradable natural commodities, poor socio-economic infrastructure and a stagnant 10% contribution of manufacturing industry to its GDP.
AU, UNIDO, others seek implementation of continental trade deal
Worried that job creation in the continent is not keeping pace with the growing workforce, thus leaving many unemployed and economy less inclusive, the African Union, United Nations Industrial Development Organisation (UNIDO), and other development agencies are pushing for the implementation of African Continental ....
UNIDO canvasses continental integration for trade, industrialisation
To enhance growth of intra-African trade and industrialisation within the continent, the United Nations Industrial Development Organisation (UNIDO), is pushing for support and implementation of continental economic integration.
AfCFTA ratification deadline suffers setback with only seven signatories
The African Continental Free Trade Agreement (AfCFTA), may not come into force anytime soon as only seven of the 22 countries needed to ratify it, have signed the deal. The deal is meant to create a single continental market for goods and services. Each country has 120 days after signing the framework to ratify. But…