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Mon, Apr

AFCFTA

  • Government has on several platforms and fora assured the business community that AfCFTA is a game changer and can transform the country’s economy. There has been improved macroeconomic indicators, ...

    Written By Yaw Ohemeng Kyei - The African Continental Free Trade Area (AfCFTA) is a novelty by the Africa Union to encourage intra Africa trade. Phase one of its protocol was negotiated in the area of trade in goods; services; working groups and procedures for settlement of disputes. AfCFTA is in line with the vision and targets of the Sustainable Development Goals (SDGs). Intra African trade is 16 percent whilst Africa’s share in global trade is two-point six percent. This means Ghana’s share of intra African trade and global trade are approximately 0.3 percent and 0.04 percent.

  • The AfCFTA is an unmissable opportunity to mitigate the effects of COVID-19 pandemic by allowing the free movement of pharmaceuticals and PPE as well as the free exchange of technical expertise

    Written By Chido Pamela Mafongoya - The long-awaited trading within the African Continental Free Trade Area (AfCFTA) finally began on 1 January 2021, marking a very important milestone for African trade. The AfCFTA creates a single continental market for goods and services, with the aim of increasing intra-African trade by reducing tariffs by approximately 90 percent [1] and harmonising trading rules at a continental level. The AfCFTA has the potential to increase intra-African trade by 52.3% by 2022 [2].

  • The benefits of improved efficiency on the continent and encouragement of competition on the markets will be significantly felt on the continent and boost development

    Written By Shantel Mufandaidza - Created by the African Continental Free Trade Agreement in 2018, the African Continental Free Trade Area ("AfCFTA") came into effect on 1 January 2021. Since the World Trade Organization creation, the AfCFTA is the largest free trade area globally, with 54 out of 55 nations of the African Union, many of which have already ratified the agreement. Estimations forecast that this free trade area will positively impact Africa's Gross Domestic Product (GDP), resulting in welfare gains for citizens, facilitate trade growth, and improve Africa's trade deficit. While Africa has substantial natural resources, it has not received significant benefits from the extraction and export of such resources, particularly in oil & gas. Will AfCFTA have an impact on oil & gas industry exports?

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