Tag: AfCFTA

India can benefit from African Continental trade pact: MEA

logistafrica

Tribune News Service New Delhi, August 28 Underscoring India’s commitment towards growth in relations with Africa, New Delhi on Friday said the country’s businesses could benefit from the African Continental Free Trade Agreement that was gathering pace. Characterising the proposed pact as a “game changer”, Rahul Chhabra, Secretary, Economic Relations, Ministry of External Affairs, said more and more African countries were joining the agreement and a huge opportunity could come in a few months. Till date, 30 of the 54 countries have ratified the agreement. “Making Africa resilient for Indian…

Read More

Kenya launches five-year national trade strategy

logistafrica

Blueprint aims at deepening relations with other African countries     By Bernadette Khaduli Kenya has launched the National African Continental Free Trade Area (AfCFTA) Implementation Strategy 2022-2027 to boost opportunities for industrial diversification, investment and job creation. The strategy also aims at deepening relations with other countries on the continent which has a population of over 1.3 billion people and a combined Gross Domestic Product of over $3.4 trillion. Speaking during the launch of the Strategy and unveiling of AfCFTA National Implementation Committee held at a Nairobi hotel on…

Read More

AfCFTA To Encourage Use Of Local Currencies To Boost Trade

logistafrica

The African Continental Free Trade Area (AfCFTA) on Tuesday said it will promote the use of local currencies in order to boost trade amongst African countries. Prudence Sebahizi, the Chief Technical Advisor at the AfCFTA Secretariat told journalists in Nairobi, the capital of Kenya that currently most intra-Africa trade is settled using the U.S. dollars. “With the use of local currencies, the number of financial transactions will increase while the time it takes to make payments will reduce thereby boosting trade amongst African states,” Sebahizi said during the EABC-Trade Mark…

Read More