Browsing: African Continental Free Trade Area (AfCFTA)

The realities on the African continent are unpalatable. The levels of financial, education and energy poverty among several other scales of poverty are extremely high. Yet the continent lies on a bed of natural resources and is adorned by some of the most beautiful scenery in the world. 

On top of that the biggest resource—its people—are capable of churning out ideas and innovation that can change the narrative on the continent. Africa is far from hopeless. Recognizing this, the African Union has set out to take steps towards achieving the realisation of a first class economic powerhouse by 2063. 

The African Continental Free Trade Area (AfCFTA)

In a bid to achieve this agenda, a free trade area that seeks to create one common market through the integration of African countries was born. Of the 55 African countries 54 signed the agreement with Eritrea choosing to watch from the …

At least seven million people in Uganda will still be living in extreme poverty by 2030, according to a study by Brookings Institute.

The study contained in the Foresight Africa 2020 reveals that Uganda will not able to achieve the number one Sustainable Development Goal (SDG) which seeks to eliminate extreme poverty by 2030.

The study highlights priorities for Africa in 2020 to 2030. Dr Brahima Coulibaly, the Africa Growth Initiative at the Brookings Institution senior fellow and director, said by 2030, Africa will have 397.9 million people living in extreme poverty, out of which 7.6 million will be in Uganda.

Also Read: Will events in Kenya, Uganda and Tanzania, bring financial and political freedom this decade?

He said that by 2030, all Sub Saharan Africa countries, are expected to make some progress towards SDGs. However, by 2030, 18 countries out of 44 will get less than halfway to the …

Ride the wave of the African Continental Free Trade Area, African Development Bank (ADB) president Adesina Urged United Kingdom investors.

Speaking at the UK Parliamentary Symposium, Mr Adesina said Africa is on the cusp of unmatched economic transformation and the United Kingdom must engage in a partnership of change.

“The Africa of the 21st century is very different. The Africa of the 21st century is new and more confident,” he said
The All-Party Parliamentary Group for Africa with the Royal African Society, Oxford Brookes University, and the Trade Justice Network organized the symposium under the theme UK-Africa Trade and Brexit.

Adesina said that Africa and the United Kingdom should be significant trading partners. “The reality, however, is that UK’s trade with Africa is trending downwards. From a $49 billion peak in 2012, trade decreased to $30.6 billion in 2018,” he noted.

Also Read: AfDB president woos UK investors to take

Ghana hosts the 17th Meeting of the African Continental Free Trade Area (AfCFTA) Negotiating Forum which began on Tuesday this week at the Accra International Conference Centre.

An official statement, issued by Ghana’s Public Relations Office of the Ministry of Trade said the three-day meeting would be followed by the 10th meeting of the Committee of Senior Trade Officials which will begin from December 12 to 13, 2019. While the African Ministers of Trade Meeting and the AfCFTA Council of Ministers Meeting will follow from December 14 to 15, 2019.

According to the statement, the African Continental Free Trade Area (AfCFTA) Negotiating Forum will seek to finalise outstanding works on the first phase negotiations which deal with the trade in goods and services protocols and dispute settlement mechanisms.

The meeting will also see the establishment of technical Working Groups on investments, competition policy and intellectual property rights.

AfCFTA is a …