Latest news with #AfCFTASecretariat
IOL News
18-06-2025
- Business
- IOL News
South Africa's role in the African Continental Free Trade Area: opportunities ahead
The Intra-Africa Trade Fair Roadshow that was held in Johannesburg recently. Image: Afreximbank South Africa is set to leverage the African Continental Free Trade Area (AfCFTA), reaffirming its commitment to harness its immense potential for driving local business growth and enhancing regional integration. This sentiment was echoed by Humphrey Nwugo, the Regional Director (Southern Africa) at Afreximbank, during the opening of the IATF2025 South Africa Business Roadshow in Johannesburg, where he urged the nation to spring into action. Nwugo said, 'This is the time for South Africa's public and private sectors to be strategically positioned to seize the immense opportunities that IATF2025 will present,' emphasising the need for immediate and decisive engagement. The Intra-African Trade Fair (IATF2025), scheduled to take place in Algiers from 4–10 September 2025, is anticipated to be a landmark event—providing a gateway to unprecedented trade and investment opportunities across the continent. Nwugo further outlined South Africa's integral role in African integration, praising its robust economic foundations, entrepreneurial dynamism, and institutional capacity, which place it in a prime position to entwine itself within African value chains. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading Speaking on the event's significance, Wamkele Mene, Secretary General of the AfCFTA Secretariat, pointed to the pressing need for IATF2025 amid a backdrop of global instability and dynamic trade landscapes. 'Despite these headwinds, Africa has the capacity to navigate the challenges, accelerate industrial development, and realise the vision of a fully integrated continent.' Mene underscored the urgency of cultivating regional value chains in sectors such as automotive and agribusiness, where there is considerable scope for fostering inclusive growth. Sihle Zikalala, deputy minister of Public Works and Infrastructure, said South Africa's participation in the AfCFTA represents a historic opportunity to weave stronger economic ties with neighbouring nations. 'We view the AfCFTA as a catalyst for expanding market access for our goods and services while nurturing inclusive, job-rich growth,' Zikalala said. At the heart of this discourse was a vision that IATF2025 should transcend its role as merely a marketplace, transforming instead into a strategic tool for bolstering policy and practical integration. Zikalala said, 'through partnerships and public-private collaboration, we can develop world-class infrastructure across Africa while reducing our reliance on foreign exchange by trading in our own currencies.' Over 350 business leaders, policymakers, and investors convened at the Roadshow, contextualised under the theme: 'Harnessing Regional and Continental Value Chains: Accelerating Africa's Industrialisation and Global Competitiveness under the AfCFTA.' The event's agenda spotlighted strategies focused on enhancing resilient supply chains while amplifying intra-African trade—a critical element for unlocking tailored industrial opportunities across the continent. According to the South African Revenue Service (SARS) and UN COMTRADE, South Africa's robust trade activities recorded merchandise exports worth $110.5 billion against imports of $113.2 billion in 2023. Despite a modest trade deficit of $2.7 billion, trade constituted 65.7% of GDP, illuminating South Africa's deep-rooted integration within global markets. Afreximbank's 2024 African Trade Report highlighted that South Africa exported $29.6 billion to African partners while importing $9.6 billion, with intra-African exports making up 26.8% of the total exports.
Zawya
07-06-2025
- Business
- Zawya
Sierra Leone's Ministry of Trade and Industry, African Continental Free Trade Area (AfCFTA) Secretariat, and Economic Commission for Africa (ECA) Join Forces to Build National Capacity for African Continental Free Trade Area (AfCFTA) Implementation
The Ministry of Trade and Industry of Sierra Leone, in collaboration with the African Continental Free Trade Area (AfCFTA) Secretariat and the United Nations Economic Commission for Africa (ECA), is conducting a four-day capacity building workshop for the National Implementation Committee (NIC) on the AfCFTA. Taking place from 10 to 13 June 2025 in Freetown, with hybrid participation, the workshop aims to equip key national stakeholders with the knowledge, tools, and coordination mechanisms required to implement the AfCFTA effectively. This collaborative effort reflects Sierra Leone's strong commitment to leveraging the opportunities of the AfCFTA, which brings together a market of over 1.4 billion people with a combined GDP of $3.4 trillion. As the national coordinating body for AfCFTA implementation, the Ministry is leading efforts to ensure that Sierra Leone's institutions are fully prepared to operationalize the Agreement in alignment with national development priorities. The workshop will focus on critical areas of the AfCFTA Agreement and its protocols, including: Rules of Origin Digital Trade Intellectual Property Rights Women and Youth in Trade Trade Facilitation Key findings from Sierra Leone's AfCFTA Readiness Assessment Participants include representatives from the public and private sectors, civil society, and development partners. The training is designed to strengthen institutional coordination, enhance technical understanding of AfCFTA instruments, and promote inclusive trade practices. 'This workshop is a crucial step in ensuring that Sierra Leone is not only ready to trade under the AfCFTA, but also strategically positioned to benefit from it,' said a representative of the Ministry of Trade and Industry. 'Our collaboration with ECA and the AfCFTA Secretariat is key to building the technical foundation and partnerships we need to succeed.' The AfCFTA Secretariat and ECA are providing technical support, facilitating knowledge-sharing, and delivering expert insights based on continental experiences and best practices. This initiative also supports broader national policy goals, including export diversification, digital transformation, and inclusive growth, as outlined in Sierra Leone's National Trade Strategy and Medium-Term National Development Plan. The workshop underscores the collective commitment of the three institutions to ensuring that AfCFTA implementation is locally owned, technically sound, and inclusive, laying the groundwork for sustainable development through trade. Distributed by APO Group on behalf of United Nations Economic Commission for Africa (ECA).
See - Sada Elbalad
09-04-2025
- Business
- See - Sada Elbalad
Africa Prosperity Network to Host High-Level Virtual Roundtable on Infrastructure for Trade and Prosperity
H-Tayea Africa's leading voices in trade, policy, and infrastructure will convene on Wednesday, April 9, for a high-level virtual roundtable titled 'The Africa We Want: How Should Africa Fund and Build the Infrastructure for Trade, People Movement and Prosperity?' The event, hosted by the Africa Prosperity Network in partnership with the AfCFTA Secretariat, aims to tackle one of the continent's most urgent priorities—building sustainable, well-funded infrastructure that supports regional integration and long-term economic growth. Scheduled from 12:00 PM to 2:00 PM GMT (2:00 PM to 4:00 PM CAT), the 90-minute roundtable will bring together a distinguished lineup of experts, business leaders, and policymakers to explore Africa's infrastructure gaps and propose bold, innovative funding solutions. The discussion will focus on actionable strategies for developing efficient transport networks, boosting connectivity, and facilitating the free movement of goods and people under the African Continental Free Trade Area (AfCFTA). At the heart of the conversation will be how Africa can finance and implement large-scale infrastructure projects that are inclusive, sustainable, and aligned with the goals of Agenda 2063. With logistics, roads, and trade corridors still underdeveloped across many regions, stakeholders will emphasize the need for cross-border cooperation, public-private partnerships, and African-led financing mechanisms that reflect the continent's development priorities. The event features high-level participation from institutions such as the AfCFTA Secretariat and Afreximbank, alongside influential voices in policy, business, finance, and civil society. Among the speakers are Rui Pedro Afonso Livramento, Chief of Staff at the AfCFTA Secretariat; Emeka Uzonwa, Director of Banking and Special Initiatives at Afreximbank; and Donu Kogbara, a well-known columnist and commentator. Other panelists include Ziad Hamoui of Borderless Alliance, James Amoo-Gottfried from Ghana's Ministry of Roads and Highways, Anthony Pile of Blue Skies Holdings, finance expert Eric Otoo, CedarLab founder Tshegofatso Motaung, businessman Pierre Coussey, and Gideon Asare, CEO of Adonis Travels. This timely discussion is expected to generate actionable insights and policy proposals that support intra-African trade, enhance regional connectivity, and accelerate economic transformation. With the AfCFTA's potential to create the largest free trade area in the world by population, infrastructure development remains the backbone of Africa's prosperity goals. The Africa Prosperity Network and the AfCFTA Secretariat are calling on stakeholders from across the continent to join this vital conversation and help shape the infrastructure that will define Africa's future. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Arts & Culture Arwa Gouda Gets Married (Photos)
See - Sada Elbalad
08-04-2025
- Business
- See - Sada Elbalad
Africa to Host High-Level Virtual Roundtable on Infrastructure for Trade and Prosperity
H-Tayea Africa's leading voices in trade, policy, and infrastructure will convene on Wednesday, April 9, for a high-level virtual roundtable titled 'The Africa We Want: How Should Africa Fund and Build the Infrastructure for Trade, People Movement and Prosperity?' The event, hosted by the Africa Prosperity Network in partnership with the AfCFTA Secretariat, aims to tackle one of the continent's most urgent priorities—building sustainable, well-funded infrastructure that supports regional integration and long-term economic growth. Scheduled from 12:00 PM to 2:00 PM GMT (2:00 PM to 4:00 PM CAT), the 90-minute roundtable will bring together a distinguished lineup of experts, business leaders, and policymakers to explore Africa's infrastructure gaps and propose bold, innovative funding solutions. The discussion will focus on actionable strategies for developing efficient transport networks, boosting connectivity, and facilitating the free movement of goods and people under the African Continental Free Trade Area (AfCFTA). At the heart of the conversation will be how Africa can finance and implement large-scale infrastructure projects that are inclusive, sustainable, and aligned with the goals of Agenda 2063. With logistics, roads, and trade corridors still underdeveloped across many regions, stakeholders will emphasize the need for cross-border cooperation, public-private partnerships, and African-led financing mechanisms that reflect the continent's development priorities. The event features high-level participation from institutions such as the AfCFTA Secretariat and Afreximbank, alongside influential voices in policy, business, finance, and civil society. Among the speakers are Rui Pedro Afonso Livramento, Chief of Staff at the AfCFTA Secretariat; Emeka Uzonwa, Director of Banking and Special Initiatives at Afreximbank; and Donu Kogbara, a well-known columnist and commentator. Other panelists include Ziad Hamoui of Borderless Alliance, James Amoo-Gottfried from Ghana's Ministry of Roads and Highways, Anthony Pile of Blue Skies Holdings, finance expert Eric Otoo, CedarLab founder Tshegofatso Motaung, businessman Pierre Coussey, and Gideon Asare, CEO of Adonis Travels. This timely discussion is expected to generate actionable insights and policy proposals that support intra-African trade, enhance regional connectivity, and accelerate economic transformation. With the AfCFTA's potential to create the largest free trade area in the world by population, infrastructure development remains the backbone of Africa's prosperity goals. The Africa Prosperity Network and the AfCFTA Secretariat are calling on stakeholders from across the continent to join this vital conversation and help shape the infrastructure that will define Africa's future. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Arts & Culture Arwa Gouda Gets Married (Photos)
