The Secretary General of the African Continental Free Trade Area (AfCFTA), Wamkele Mene, has expressed regret that Nigeria is not among the only three African countries that are currently qualified to access the African Export-Import Bank (AFREXIM)’s $1 billion fund.
3 Apr 2022
The United Kingdom (UK) has expressed commitment to support the implementation of the African Continental Free Trade Area (AfCFTA), the world’s largest free trade area initiative.
14 Jan 2022
Initiative to save Nigeria, Africa $5b in transactions cost Chief Executiove Officer of Pan-African Payment and Settlement System (PAPSS), Mike Ogbalu yesterday announced that 12 banks and four switching companies have been onboarded into the platform. PAPSS is a Pan-Africa payment and settlement system will be the enabling infrastructure to spur the growth of intra-African…
22 Nov 2021
Africa’s share of global trade remains low at two per cent, Secretary General, African Continental Free Trade Area (AfCFTA), Wamkele Mene, has said. Besides, a total of $36 billion transactions were sealed at the end of the 2021 Intra African Trade Fair (IATF).
20 Nov 2021
African countries are losing $5 billion annually as costs of currency convertibility, Secretary General, African Continental Free Trade Area (AfCFTA) Wamkele Mene has said. Besides, Mene disclosed that AfCFTA, in collaboration with Afreximbank announced plans to roll out $10 billion adjustment fund for countries that may suffer revenue loss arising from elimination of tariff on…
11 Nov 2021
Acknowledging Nigeria’s market size despite continued drag in the implementation of the African Continental Free Trade Area (AfCFTA) agreement, the AfCFTA secretariat has stated that achieving the trade objectives ...
29 Sep 2021
African Export-Import Bank (Afreximbank) and the African Continental Free Trade Area (AfCFTA) Secretariat have announced the commencement of the Pan-African Payment and Settlement System ...
1 Feb 2021
While some top African economies have already freighted their first cargoes under the African Continental Free Trade Area (AfCFTA), Nigeria continues to await the release of the list of liberalised goods by the National Action Committee, one month after implementation commenced.
13 Jan 2021
The journey towards the AfCFTA gained momentum in March 2018 when 44 nations signed up during the African Union Extra-Ordinary Session in Kigali, Rwanda.
26 May 2020
Last week the African Union (AU) announced the postponement of the implementation of the world’s biggest trade area, the African Continental Free Trade Agreement...