#AfCFTA

[yohane23]

AfCFTA could boost African incomes by 9%, says World Bank report

[afrotumble]

Kenya imports fridges from South Africa under AfCFTA - Business Daily

“The first consignment that was flagged off to Kenya contained fridges and freezers. Going forward we shall expect imports from South Africa only of the products we do not manufacture in Kenya,” said Ms Miano.

“Kenya will also export to South Africa her tea, coffee, flowers, vegetables, a wide range of fruits, apparel, iron and steel products, among others,” she added.

[darnellafrica]

Five African Nations Embrace Visa Free Travel For African Passport Holders

It appears the pending AfCFTA measure is being implemented independently by African countries across the continent.

Once implemented, Rwanda will become the fourth African country to remove travel restrictions for Africans. Other countries that have waived visas to African nationals are Gambia, Benin and Seychelles.

Kenya’s President William Ruto announced Monday plans to allow all Africans to travel to the East African nation visa-free by December 31.

It is good knowing that Rwanda 🇷🇼 has joined Gambia 🇬🇲, Benin 🇧🇯 & Seychelles 🇸🇨 in removing travel restrictions. I am looking forward to Kenya 🇰🇪 joining later on this year.

Hopefully other African countries will consider adopting this policy in the near future.

Discovered via: African Style Magazine on Instagram.

[ngulminthangl]

Absa CIB is positioning itself at the forefront of digital developments by being a part of Contour’s digital trade finance network. Many of Africa’s trade transactions are manual and paper-based, which slows down trade growth and creates another layer of complexity and costs.

Absa CIB’s clients will now have access to Contour’s digital Letter of Credit (LC), which reduces the process of presenting documents from an average of 5-10 days to under 24 hours.

Digital developments are a big part of addressing challenges and creating access to new markets. In Africa, digitisation is critical to the success of the African Continental Free Trade Area (AfCFTA), a flagship project that aims to boost intraAfrica trade by 52.3 percent and expand the size of the continent’s economy to US$29 trillion by 2050.

Read more: https://ngulminthanglhanghal.wordpress.com/2023/08/16/absa-cib-joins-contour-trade-finance-network/

[politicoscope]

Pan-Africanism: Uniting The Continent For Progress And Prosperity

In recent years, Pan-Africanism has emerged as a powerful force, shaping the destiny of the African continent and fostering a sense of unity among its diverse nations. This dynamic ideology, rooted in a rich history, seeks to consolidate Africa’s strength and amplify its voice on the global stage. Let’s delve into the fascinating journey of Pan-Africanism, exploring its history, goals,…

[guineamarket]

Ecobank elegido mejor banco para PYMEs en África por Euromoney

Ecobank gana, una vez más, el codiciado premio Mejor banco para Pequeñas Y Medianas Empresas (PYMEs) en África de Euromoney Al seleccionar a Ecobank como el Mejor banco para PYMEs en África, los jueces basaron su decisión en el duradero e inquebrantable compromiso de Ecobank de satisfacer las necesidades de las PYMEs LOMÉ, Togo, 17 de julio de 2023/– Ecobank (www.Ecobank.com), el principal grupo…

[southsouthcooperationday]

Ensure that the market access under AfCFTA was not taken advantage of only by the big corporations.

The conclusion of the AfCFTA Phase One and two Protocols which provide a legal basis to advance the operationalization of the trading. The finalisation of the AfCFTA negotiations ensure that the market access under AfCFTA was not taken advantage of only by the big corporations but for the SMEs, women, and young Africans in trade, to also grow their businesses. The recently concluded Phase Two Protocols cover protocols on Investment, Competition Policy, and Intellectual Property Rights will greatly contribute to deepening economic integration in Africa. Under the Phase One Protocol on Trade in Goods, State Parties committed to reduce tariffs on 90% of goods traded among themselves in equal annual installments until they are eliminated within 5 years for non-Least Developed Countries (LCDs) and 10 years for Least Developed Countries. For an additional 7% of ‘Sensitive’ goods, tariffs will be eliminated within 10 years for non-LDCs and 13 years for LDCs. A final 3% of ‘Excluded’ products are to retain their tariffs to allow flexibilities for State Parties with particular sensitivities, but will be subject to review every five years. Under Phase II, the finalization of the Protocol on Women and Youth in Trade and Digital Trade will be concluded in 2023.

[newsbites]

News from southern Africa, 10 July

The 2023 Paris World Para Athletics Championships have begun, with over 1,300 athletes from 107 nations competing in 168 medal events. IPC President Anderson Pierson has encouraged athletes to break world records during the competition.

This edition of the championships is significant as it marks the 10th anniversary of the event.

A group of nine Namibian athletes with disabilities left Namibia on 4 July to attend the championships in Paris.

2. South Africa's largest labor union, COSATU, has been staging protests demanding interest rate cuts, electricity reforms, and job additions due to the country's economic challenges, including rolling blackouts, high unemployment, and soaring costs of living.

3. The U.S.-Africa Business Summit, organized by the Corporate Council on Africa (CCA) and the Government of Botswana, will take place in Gaborone from July 11-14.

Over 1,000 participants are expected to attend, including government and private sector leaders from Africa and the United States.

The summit will focus on "enhancing Africa's value chains" and will explore opportunities for collaboration and investment in various sectors, including mining, agribusiness, and health.

The African Continental Free Trade Area (AfCFTA) will also be a key topic of discussion, with the aim of increasing Africa's role in global value chains and boosting trade within the continent.

The success of the summit will be measured by the level of participation from countries, multilateral institutions, and private sector executives, as well as the ability to raise resources through sponsorships and registrations.

[emeriobanque]

May 30, 2023: In a significant move to promote trade and boost economic growth in Africa, DP World, a leading global port operator, and Standard Bank, Africa’s largest lender, have announced a strategic partnership to expand trade finance across the continent. The collaboration aims to provide enhanced financial solutions and support to African businesses engaged in international trade.

The partnership brings together the expertise and resources of both companies to address the challenges faced by African traders in accessing affordable and efficient trade finance services. By leveraging DP World’s extensive global network of ports and logistics infrastructure and Standard Bank’s deep understanding of African markets, the collaboration aims to bridge the trade finance gap and facilitate greater participation of African businesses in global trade.

Trade finance plays a crucial role in facilitating international commerce by providing the necessary funding for imports, exports, and other cross-border transactions. However, many small and medium-sized enterprises (SMEs) in Africa often struggle to access affordable financing options, limiting their ability to expand and engage in international trade. The partnership between DP World and Standard Bank seeks to address this issue by creating tailored trade finance solutions that cater to the specific needs of African businesses.

Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, expressed his optimism about the partnership, stating, “Africa is a continent of tremendous potential, and by joining forces with Standard Bank, we aim to unlock greater opportunities for African businesses to thrive in the global marketplace. DP World’s extensive network and logistics capabilities, combined with Standard Bank’s deep understanding of African markets, will enable us to deliver innovative trade finance solutions that drive growth and foster economic development.”

The collaboration between DP World and Standard Bank will focus on enhancing access to trade finance products such as letters of credit, guarantees, and supply chain financing. These solutions will enable African businesses to manage their working capital efficiently, reduce transaction costs, and mitigate risks associated with international trade.

Sim Tshabalala, Chief Executive of Standard Bank, emphasised the importance of empowering African businesses through trade finance, stating, “We believe that trade has the potential to transform economies and drive inclusive growth. Through this partnership, we aim to provide African businesses with the financial tools they need to expand their trade activities, create jobs, and contribute to the sustainable development of the continent.”

The partnership also aligns with the African Continental Free Trade Area (AfCFTA) agreement, which seeks to promote intra-African trade and economic integration. By facilitating trade finance, DP World and Standard Bank aim to support the goals of the AfCFTA and contribute to the realisation of a more connected and prosperous Africa.

The collaboration between DP World and Standard Bank is expected to have a transformative impact on African trade by increasing access to finance and fostering economic development. As African businesses gain greater access to affordable trade finance solutions, they will be better positioned to explore new markets, expand their operations, and participate more actively in global trade, thereby driving sustainable economic growth across the continent.

Originally published at https://www.emeriobanque.com.

[thejnlc]

Photo Archive: The 42nd Ordinary Session of the Executive Council kicks off with the resolve to uphold Africa’s resilience to challenges & achieve a successful implementation of the #AfCFTA https://www.instagram.com/p/Cov9yxfqHM_/?igshid=NGJjMDIxMWI=

[octaviodiogo]

Intégration africaine : Et si le Bénin ratifiait les Protocoles de l’UA sur la ZLECAf et la libre circulation des personnes ?

Cette semaine, plus de 55 Leaders et dirigeants d’Afrique se réuniront à Addis Abéba (Ethiopie), la capitale diplomatique et politique de l’Afrique dans le cadre de la 36ème Session ordinaire de la Conférence des Chefs d’Etat et de gouvernement de l’Union Africaine. Cette session se tient à un moment crucial où le continent s’apprête à formuler son deuxième plan décennal pour la mise en œuvre de…

[biglisbonnews]

Africa will outperform the world in economic growth, AfDB projects In the inaugural release of a report dubbed ‘Africa’s Macroeconomic Performance and Outlook’ released on Jan.19, the African Development Bank Group reported that “growth across all five African regions was positive in 2022 and the outlook for 2023–24 is projected to be stable.”Read more... https://qz.com/africa-will-outperform-the-world-in-economic-growth-af-1850039139

[baitdragon]

French Version of Buhari's Biography Unveiled in Niamey, African Leaders Extol His Virtues

Some African leaders who attended the unveiling of the French version of President Muhammadu Buhari’s biography, titled, “Muhammadu Buhari: The Challenges of Leadership in Nigeria”, in Niamey, Niger Republic, on Friday extolled the leadership qualities of the Nigerian leader.

According to a statement issued by presidential spokesman, Mallam Garba Shehu, President Mohamed Bazoum of Niger Republic; his Guinea Bissau counterpart, Umaro Sissoco Embaló; President of Chad, General Mahamat Idriss Deby Itno, and former President of Niger Republic, Mahamadou Issoufou; shared glowing testimonies on the leadership qualities of Buhari. The event took place on the sidelines of the African Union Summit on Industrialisation and Economic Diversification, as well as the Extraordinary Session on African Continental Free Trade Area (AfCFTA), which ended Friday in Niger Republic.

Speaking at the book launch, the President of Niger described the Nigerian leader as “an austere man, uncompromising, humble man, an ardent patriot and a committed democrat.”

Bazoum adds: “Professor John Paden, you were well inspired to have chosen to write about the life and work of an exceptional man. I commend your work for being comprehensive, objective, and for shedding new light on the personality of the patriot, the courageous military man, and the conscientious politician that is President Muhammadu Buhari.

“Nigeria is Niger’s main trading partner. It is therefore normal for any Nigerien politician to follow the evolution of political life in Nigeria. That is why I have closely followed Muhammadu Buhari’s political struggles, especially his participation in the presidential elections from 2003, 2007, 2011 and 2015.”

He disclosed that the fight against Boko Haram being waged together with Nigeria and other neighbouring countries in the Lake Chad Basin had allowed him to discover “the strategist and statesman in Buhari, who is determined to ensure peace for his country and the sub-region.” Continuing, Bazoum said: “His fight against corruption and for good governance has earned him the esteem of all. It is a pleasure to work with a man of conviction like him.

“I am sure that those who read the book will not fail to draw useful lessons for their political or professional careers. They will not fail to learn life lessons at all. This book will certainly educate the younger generation.” Embalo, who is also the current chairman of ECOWAS, disclosed that his father was equally called Muhammadu and was born the same year as Muhammadu Buhari.

“I just want to emphasise that there is a reciprocating affection for this man. Today l am the President of the Republic of Guinea Bissau, firstly it is God and secondly it is this man, Baba. Thank you very much,” the Guinea Bissau leader said.Some African leaders who attended the unveiling of the French version of President Muhammadu Buhari’s biography, titled, “Muhammadu Buhari: The Challenges of Leadership in Nigeria”, in Niamey, Niger Republic, on Friday extolled the leadership qualities of the Nigerian leader.

According to a statement issued by presidential spokesman, Mallam Garba Shehu, President Mohamed Bazoum of Niger Republic; his Guinea Bissau counterpart, Umaro Sissoco Embaló; President of Chad, General Mahamat Idriss Deby Itno, and former President of Niger Republic, Mahamadou Issoufou; shared glowing testimonies on the leadership qualities of Buhari. The event took place on the sidelines of the African Union Summit on Industrialisation and Economic Diversification, as well as the Extraordinary Session on African Continental Free Trade Area (AfCFTA), which ended Friday in Niger Republic.

Speaking at the book launch, the President of Niger described the Nigerian leader as “an austere man, uncompromising, humble man, an ardent patriot and a committed democrat.”

Bazoum adds: “Professor John Paden, you were well inspired to have chosen to write about the life and work of an exceptional man. I commend your work for being comprehensive, objective, and for shedding new light on the personality of the patriot, the courageous military man, and the conscientious politician that is President Muhammadu Buhari.

“Nigeria is Niger’s main trading partner. It is therefore normal for any Nigerien politician to follow the evolution of political life in Nigeria. That is why I have closely followed Muhammadu Buhari’s political struggles, especially his participation in the presidential eleSome African leaders who attended the unveiling of the French version of President Muhammadu Buhari’s biography, titled, “Muhammadu Buhari: The Challenges of Leadership in Nigeria”, in Niamey, Niger Republic, on Friday extolled the leadership qualities of the Nigerian leader.

According to a statement issued by presidential spokesman, Mallam Garba Shehu, President Mohamed Bazoum of Niger Republic; his Guinea Bissau counterpart, Umaro Sissoco Embaló; President of Chad, General Mahamat Idriss Deby Itno, and former President of Niger Republic, Mahamadou Issoufou; shared glowing testimonies on the leadership qualities of Buhari. The event took place on the sidelines of the African Union Summit on Industrialisation and Economic Diversification, as well as the Extraordinary Session on African Continental Free Trade Area (AfCFTA), which ended Friday in Niger Republic.

Speaking at the book launch, the President of Niger described the Nigerian leader as “an austere man, uncompromising, humble man, an ardent patriot and a committed democrat.”

Bazoum adds: “Professor John Paden, you were well inspired to have chosen to write about the life and work of an exceptional man. I commend your work for being comprehensive, objective, and for shedding new light on the personality of the patriot, the courageous military man, and the conscientious politician that is President Muhammadu Buhari.

“Nigeria is Niger’s main trading partner. It is therefore normal for any Nigerien politician to follow the evolution of political life in Nigeria. That is why I have closely followed Muhammadu Buhari’s political struggles, especially his participation in the presidential ele

He added that the book is a portrait of a great African leader, saying: “I pay homage to President Buhari for his patriotism and commitment in maintaining peace in our sub-region.

“We have an Avenue in Guinea Bissau bearing Buhari’s name since a year ago. Baba, as I fondly call him, is a mentor, always available to offer solutions. Baba is a tireless artisan in the maintenance of peace and solidarity in the sub-region.”

Also speaking, the President of Chad described President Buhari as a very experienced man with a great dream for Nigeria and a clear vision for Africa.

According to him: “President Buhari brings a heritage and a source of knowledge for us all. Thank you for this inestimable gift, Mr President.

“President Buhari is undoubtedly an icon whose role and action makes the African voice to be heard in the world. He has always contributed to development in Africa by protecting and defending Africa and Africans. You are undoubtedly a model. You taught us perseverance in politics.

“As a major actor in fight against terrorists and trans-border insecurity, especially in the Lake Tchad region where Boko Haram is, I want to use this opportunity to appreciate the relations between my country Tchad and Nigeria and to President Buhari for his availability, especially in difficult times.”

On his part, the immediate past President of Niger, Issoufou, praised the incumbent for launching the French version of the book, whose idea was conceived during his tenure as President.

He recounted that he graced the launch of the English version of the book in 2016 in Abuja, commending the author for documenting the life “of an exceptional man.

“As a military head of state, his primary preoccupation was fighting corruption, and even now as a democratic president, he is a leader who knows the close links between security, democracy and development.

“His fight against Boko Haram, organised crime and corruption are notable. Part of his priorities include education and health development, climate change, democratic transition.

“I agree with John Paden to state that Buhari is known for patience, honour, faithfulness and sense of duty. These helped him rule Nigeria differently from a military leader.

“He is Mr Dignity and Mr Truth, as he’s called and a sincere friend of Niger,” the former President said.

One of the book reviewers, Prof Abdallah Adamu, former Vice Chancellor, National Open University of Nigeria (NOUN), said President Buhari has rightly earned the name “Mai gaskiya”, which is translated to mean, “someone who keeps his words.”

He added that the author, John Paden, had fairly provided a biography of the current Nigerian President where he exposed the qualities of President Buhari that may not be known to many.

“The author is very much qualified to give an account of President Buhari, having been involved in Nigerian politics in the 1970s and 80s,” he said.

Minister of Aviation, Hadi Sirika recounted the role played by the President’s nephew, Mamman Daura, in the publication of the book, describing him as the initiator and driving force.

“It is a book on the personality, character, content of President Buhari, what he stood for and what he still stands for,” Sirika said.

Sirika and three other Nigerians, Mohammed Indimi, Chairman of Oriental Energy Resources (OER); Sayyu Dantata, Chief Executive Officer, MRS Holdings Limited and Farouk Adamu Aliyu, a chieftain of the All Progressives Congress, received awards from the President of Niger for their roles in fostering excellent bilateral relations between Nigeria and Niger.

President Buhari’s biography, authored by John Paden, a Professor of International Studies at George Mason University, North Virginia, United States, was first launched in Abuja in 2016.

[africaindustrializationday]

Commitment to accelerate Africa’s Industrialization.

Upon the conclusion of the Summit on Africa’s Industrialization and Economic Diversification, there will be a Declaration by Heads of State and Government. The Summit will also be an opportunity for;

Renewed high level political resolve and commitment to accelerate Africa’s Industrialisation alongside advances on the AfCFTA provisions

Policy decision for an AU-led broad-based, cross-sector consultation to develop an up-to-date, implementable and results-based Africa-Industrialisation Policy Framework, embracing gains and lessons from the continent’s experiences, taking cognizance of current and emerging global trends, with particular attention to the continent’s inclusive social and economic development priorities; and

Agreement on a Compact between governments and Africa’s private sector, academia and the civil society to bring about desired and aligned policy decisions, investment financing, institutional and human capital dedicated towards Africa-Industrialisation, to boost prospects for the AfCFTA implementation.

[ghanafinancialmarket]

Ghana Makes First Trading With Kenya Under AfCFTA Protocols

Ghana Makes First Trading With Kenya Under AfCFTA Protocols

Ghana has made its first significant showing in the Africa Continental Free Trade Area with its first trading between a Ghanaian-based manufacturer and Kenya. The KEDA Ceramics Company Limited, producers of Twyford Ceramic Tiles in the Shama District of the Western Region, made its first sale to Kenya under AfCFTA protocols in the second week of October 2022. The AfCFTA Secretariat made the…

[politicoscope]

Africa Will Be A Power House of the New Multipolar World Order

Introduction In this era of rapid globalization, the world is undergoing a marked shift from the hegemony of a few dominant powers to a more balanced and inclusive multipolar world order. Among the emerging players, Africa is poised to take center stage and flourish as a power house of this new era. With its vast resources, untapped potential, and dynamic youth population, Africa is…