DAIRIBORD Holdings Limited has said although the African Continental Free Trade Area could unlock a string of spinoffs, significant threats to intra-African trade would also arise.
Business Botswana (BB) is concerned that the benefits of the African Continental Free Trade Area (AfCFTA) Agreement, will not be fully exploited by local businesses.
AfCFTA provides a platform for Mauritius to contribute significantly to the new African impetus by making available to investors and businessmen an ecosystem that not only makes it easier for them to do business with Africa, but also enhances and safeguards their investments.
The European Union has pledged to commit an additional €5m (about sh21.7b) towards the second phase of the African Trade Observatory (ATO) to support the operationalisation of the African Continental Free Trade Area (AfCFTA).
Some outstanding negotiations are part of necessary conditions to ensure the success of the AfCFTA, but have been facing challenges from member countries despite commencement of the agreement.
The Ghanaian Minister of Trade and Industry has called for the establishment of a Ghana-Canada Business Council, to promote trade between the two countries.
The international legal instrument to be adopted as the AfCFTA Protocol on Investment will constitute a binding international agreement for the AU Member States that have ratified this instrument and for whom it has entered into force.
The legal regimes of the eight Regional Economic Communities (RECs) recognised by the AfCFTA Agreement as building blocks of the African Continental Free Trade Area will not disappear when the AfCFTA is implemented.
The fears that Nigeria might become a dumping ground for manufactured goods, especially with the advent of the AfCFTA, has heightened as Nigeria’s Trade in Goods Statistics show rising deficit in manufactured goods trade.
AfCFTA has materialized at a time when globalization is being used to hide all sorts of ambitions including the second empire and colonialism. AfCFTA is not just about the economy and markets, it is also a political setup from the African Union and African Development Bank.
The African Trade Policy Centre is preparing the first ever Strategic Environmental Assessment (SEA) of the AfCFTA to guide on how environmental considerations can be effectively incorporated into the agreement.
The AfCFTA will give the African Union the chance to become a strong, independent player in the world economy – at least that is the optimistic forecast. But there are good reasons to cast doubt on the high hopes pinned on the African free trade area.
Ghana government has waived import duties on imported equipment, machines and raw materials for local manufacturing companies to enable them to become competitive in the global marketplace.
The Council of Ministers of the Southern African Development Community has urged Member States that have not yet signed and ratified the AfCFTA and the TFTA to do so to allow for the implementation of the agreements.
The AfCFTA Secretariat and the UN Development Programme (UNDP) today have signed a strategic partnership to promote trade as a stimulus for Africa’s socioeconomic recovery from the COVID-19 crisis.
The government of Ghana has expressed its interest in concluding the negotiations with Japan on the Bilateral Investment Treaty (BIT), which has been pending since April 2014.
The implementation of the African Continental Free Trade Area (AfCFTA) may enslave Africans to the rest of the world if the challenges associated with the programme are not fixed, the Citizen Watch, a think tank group has revealed.
Only 21% of cases administered by ICSID involve African investors, however, this may change with the introduction of AfCFTA, and we may begin to see more disputes involving African investors and African states.
African countries want India to help in mechanising agriculture, build social and physical infrastructure and provide more vaccines
Private sector lobbies in Africa’s six regional trading blocs have formed the African Business Council, a continental umbrella body to spearhead the business agenda for the African Continental Free Trade Area (AfCFTA).