160 + DAYS AFTER AFCFTA : IS THE FUTURE ANY BRIGHTER FOR AFRICAN INTEGRATION ?
By Spurt
Photo by Tom Fisk from Pexels
At Spurt ! We are always looking to amplify solutions to critical and specific challenges in Sub Saharan Africa . This week , we reviewed AfCFTA : 100 days since the start of free trading , prospects seem bright by Kingsley Ighobor from Africa Renewal . It ’ s well over 160 days since free trading kicked off under the AfCFTA . Two Ghanaian companies , Kasapreko and Ghandour Cosmetics , made history as the pioneer exporters under the AfCFTA preferences . Africa ’ s free trade area represents a decisive step toward the continent ’ s long-held regional integration aspiration and rekindles hope for postpandemic recovery .
The Head of the AfCFTA secretariat , Mr Wemkele , has since orchestrated the signing of an MoU with UNDP , signalling the UNDPs support in ending national customs authorities ’ capacities digitizing intra-African trade and
I enhancing export readiness of women- and youth-led SMEs . Currently , only three countries , Ghana , Egypt and South Africa have established the necessary customs infrastructure for trading . Still , the council of ministers has demonstrated flexibility by approving countries not yet able to meet the customs requirements to set up escrow accounts to reimburse traders operating under AfCFTA preferences .
Organizations like the International Chamber of Commerce , Trade Law Centre ( tralac ), UPS International Public Affairs & Sustainability , and West Blue Consulting have partnered to launch the e-TradeHubs Portal , which will act as a one-stop-shop for trade tools and information . The ease of access to these resources is targeted at mobilizing women small business owners in AfCFTA .
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