Category: News

The Arab Africa Trade Bridges (AATB) Concludes its 4th Board of Governors Meeting with Landmark Agreements to Enhance Arab African Trade and Cooperation

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Milestone Agreements Forge New Paths in African-Arab Trade Relations The Arab Africa Trade Bridges (AATB) Program announces the successful conclusion of its 4th Board of Governors (BoG) Meetings, held alongside with the Tunisia Africa Business Meeting (TABM) from 2 July 2024, in Tunis, Tunisia. This event marks a milestone in advancing trade, economic cooperation, and regional integration between Africa and the Arab world. The 11th Executive Committee Meeting which was held on 1st July featured high-level sessions focused on areas such as agricultural sustainability, food security and the economic empowerment of…

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Comoros Inaugurates Key Development Road with Support from the African Development Bank

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The Union of Comoros has reached a major milestone in its infrastructure development with the inauguration of a strategic national road. On July 5, 2024, on the eve of the country’s 49th independence anniversary, President Azali Assoumani and Akinwumi Adesina, President of the African Development Bank Group, officially opened a 49.2-kilometer section of National Road 2 (RN2). This vital artery, connecting the capital Moroni to the Foumbouni region in the southeast of the main island, represents a $30 million investment entirely funded by the African Development Bank. It promises to…

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Trade between Africa and the Caribbean could reach US$1.8 billion by 2028

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According to a joint study by the International Trade Centre (ITC) and the African Export-Import Bank (Afreximbank), annual trade between Africa and the Caribbean could reach US$1.8 billion by 2028, more than double its current value. This promising growth is conditional on the implementation of key measures such as reducing tariffs, improving logistics and promoting the processing of local value-added products. The study, conducted as part of the “Strengthening Afro-Caribbean Trade and Investment” project, highlights the immense opportunities that exist between the two regions, underlining that current trade accounts for…

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Deployment of SIGMAT: Meeting of Customs Directors General of the Abidjan-Lagos Corridor

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On June 24 and 25, 2024, Lomé, the capital of Togo, hosted a crucial meeting of the Directors General of Customs from the member states of the Abidjan-Lagos Corridor (Benin, Côte d’Ivoire, Ghana, Nigeria, and Togo). This meeting, focused on the deployment of the Interconnected Transit Goods Management System (SIGMAT), was held under the auspices of the ECOWAS Trade Liberalization Scheme Task Force. Placed within the framework of implementing the recommendations from the high-level ministerial meeting held in Cotonou in October 2023, this event aimed to explore solutions to overcome…

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Afreximbank and the World Trade Organization (WTO) Secretariat harmonize efforts to develop trade in Africa

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The MOU will afford the Bank and the WTO Secretariat the opportunity to expand and deepen their collaboration to support the cotton sector beyond the C4+ countries Today, African Export-Import Bank (Afreximbank or “the Bank”) (www.Afreximbank.com) signed a Memorandum of Understanding (MoU) with the World Trade Organization (WTO) to amplify the impact of their strategically aligned joint efforts of promoting global trade leveraging Africa’s unique resource endowment. The MoU will allow the two organizations to pursue a collaborative framework for harmonizing and coordinating their efforts towards deepening key trade development…

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2nd AfDB Transport Forum: Abidjan, Côte d’Ivoire, September 18-19, 2024 “Accelerating the Development of Resilient Infrastructure in Africa”

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Logis-T Africa – The African Development Bank (AfDB) announces the開催 of the 2nd AfDB Transport Forum (ATF) from September 18-19, 2024 in Abidjan, Côte d’Ivoire, under the theme “Accelerating the Development of Resilient Infrastructure in Africa”. This two-day forum will bring together transport sector leaders and experts for high-level discussions, presentations, and sharing of experiences and best practices. The main objective is to highlight the emerging challenges in the transport sector in Africa and to find sustainable solutions to improve the continent’s resilience and independence. Background and Challenges of the…

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Morocco : Logistics Gets a Boost in Kenitra with Oulad Bourahma’s 44.5-Hectare Platform

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A major new project is underway in Kenitra, aimed at strengthening the region’s logistics infrastructure. The Moroccan Agency for Logistics Development (AMDL) is planning to create a large-scale logistics platform on a 44.5-hectare site located in Oulad Bourahma. This ambitious project aims to meet the growing demand for logistics services in the region, driven by the presence of several industrial zones and a dynamic economic activity. The logistics platform will offer a modern and equipped space for companies operating in the transport, warehousing and distribution sectors. A strategic location for…

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Unveiling Africa’s Untapped Aerial Potential: High-Promise Unserved Routes

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Aerospace giant Airbus has recently unveiled a network of unserved air routes across Africa, presenting a wealth of opportunities to boost transportation, trade, and economic growth on the continent. The study, titled “Exploring the horizons: A study of unserved air routes to, from and within Africa,” is a collaborative effort between Airbus and AviaDev. It focuses on city pairs that could support direct flights but currently lack them. The analysis utilizes origin and destination (O&D) traffic data and flight schedules to identify these potential routes, covering the period from December…

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Rwanda : Ampersand and BYD Join Forces to Electrify Africa’s Motorbikes

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Africa’s transportation sector is set for a significant transformation as Ampersand, a leading African electric vehicle (EV) company, and BYD, a global tech giant, announced a landmark collaboration today. This partnership focuses on decarbonizing Africa’s booming commercial motorbike industry. Ampersand will become a primary supplier for BYD’s high-tech battery cells, aiming to produce an impressive 40,000 electric motorcycles by the end of 2026. This initiative represents a major step towards electrifying a significant portion of Africa’s estimated 30 million commercial motorbikes. Boosting Sustainability and Economic Growth The Ampersand-BYD partnership will…

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Boosting Intra-African Trade: ECA Convenes Experts to Bridge the Implementation Gap

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In a crucial move towards strengthening Africa’s economic integration, the United Nations Economic Commission for Africa (ECA), alongside the African Union (AU), has hosted an Expert Group Meeting (EGM)  in Douala, Cameroon. This gathering aims to address a critical challenge: ensuring the effective implementation of the Boosting Intra-African Trade (BIAT) Action Plan, aligning it with the transformative goals of the African Continental Free Trade Area (AfCFTA). Unlocking Africa’s Trade Potential Despite Africa’s vast economic potential, the continent’s share of global exports remains low, hovering around 3%. This underscores the pressing…

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