Browsing: AfCFTA

In today’s information society, digital payment is an indispensable enabler of trade. This is precisely why experts have more or less hinged the success of the African Continental Free Trade Area agreement on the success of digital payments. “We need to put as much effort as we are putting into getting the operational blocks of the agreement and secretariat going into getting the African payments regulatory landscape similarly integrated. Payments across the continent could probably be made seamless today. The technology is there,” says Dr. Augustina Odame of the Ghana Chamber of Technology.

Speaking at the maiden edition of the African Local Content Roundtable, at the Nigerian Content Tower, Yenagoa, Bayelsa State, on Thursday, Sylva said through implementation of local content, Nigeria has been able to achieve significant progress in value addition, adding that Nigeria plans to achieve 70% local content compliance in the next six years.

There’s no need to fuss. And I’m pleased that not one of the high-profile seers involved has, so far, tried to make any excuses or to defend themselves. There’s nothing to defend, really, other than to swallow the humble pie, flush it down with a warm glass of lemonade and move on.

Zambia’s Minister of Commerce, Trade and Industry, Christopher Yaluma, disclosed at a media briefing in Lusaka on Thursday that the official launch of the AfCFTA will take place at a virtue event which will be graced by the African Union Chairperson and South African President, Cyril Ramaphosa, and Ghana’s President, Nana Akuffo Addo.

Leaders of trade unions of Nigeria Labour Congress such as Textile, Chemical, Electricity, Automobile, Engineering as well as Petroleum and Gas, who are affiliates of international  labour platform called IndustriALL Global Union, said the size of the refinery project spoke volume of the entrepreneurial spirit of Aliko Dangote.

The World Bank said in a recent report that 60 per cent of African countries are likely to see increased agricultural employment by 2035 thanks to AfCFTA, and wages for unskilled workers are expected to grow faster in these nations. While some countries will gravitate towards other sectors in which they have competitive advantages, North African states will shift more towards manufacturing and services.  Many in sub-Saharan Africa are well placed to become food production hubs, thanks in part to favourable climates.