Tag: african continental free trade agreement
In the wake of the COVID-19 pandemic, the African Continental Free Trade Agreement (AfCFTA) was postponed by six months but should the African Union and have gone on to operationalize the trade deal? Edem Adzogenu, Co-Founder of the Afrochampions Initiative joins CNBC Africa for more.
One of the expected outcomes of the African Continental Free Trade Agreement is to integrate African economies and therefore create a regional economic bloc of about $3.4 trillion. Moono Mupotola, Director for Regional Integration at the African Development Bank joins CNBC Africa’s Kenneth Igbomor to discuss how Africa can integrate its markets to take full advantage of the AfCFTA in post-COVID-19.
The World Bank says the COVID-19 pandemic has disrupted trade and triggered up to $79 billion in output losses in Africa alone this year. But the bank stressed that the African Continental Free Trade Agreement has the potential to boost Africa’s income by $450 billion by 2035. Winston Osuchukwu, co-Founder of Trans-Sahara Incorporated joins CNBC Africa for more.
The African Continental Free Trade Agreement was supposed to be operationalized on the 1st of July, 2020. But this has taken a backseat as a result of the COVID-19 pandemic that has grappled the world. In spite of this, why is it important for the continent to look at a flexible economic model? CNBC Africa's Arnold Kwizera spoke to Economist, Timothy Masiko for more on this.
Are calls for the reopening of borders by trade ministers in Africa synonymous with tearing down trade barriers ahead of the postponed implementation of the African Continental Free Trade Agreement now slated for January 2021? Bismarck Rewane, CEO of Financial Derivatives joins CNBC Africa for more.
Its 133 days until the start of trading under African Continental Free Trade Agreement, so far 54 Countries have signed up and just about 29 countries have ratified the agreement. Nigeria's Minister for Industry, Trade and Investment says this ratification will only take place if Nigeria is sure that its industries will be protected. To discuss Nigeria’s trade strategy and the journey to ratify the AfCFTA, Tilewa Adebajo, CEO of CFG Advisory and Mansur Ahmed, President of the Manufacturers Association of Nigeria both join CNBC Africa for more.
Two years ago Rwandan Immigration & Emigration announced that the country would be granting 30 day visa upon arrival for all countries without prior approval, the move was met with mixed reactions but now it's been reported that president of Nigeria, has made a similar declaration. According to President Muhammadu Buhari, the country would now be granting visa on arrival for all travellers with African passports, this comes some months after the country ratified the African Continental Free Trade Agreement (AfCFTA) agreement. CNBC Africa's Kenneth Igbomor speaks.
In May this year, Africa made history as the agreement establishing the African Continental Free Trade Agreement (AfCFTA) entered into force with 54 out of the 55 member states of the African Union signing the agreement. The bigger task is implementation. Uganda had a meeting analysing both the benefits and costs for the move. Analyst, Charles Bwogi joins CNBC Africa for more.