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Tag: AfCFTA

Business

PHOTOS: AfCFTA okays Customs-Afreximbank initiative to boost African trade

The African Continental Free Trade Area has endorsed the Customs-Partnership for African Cooperation in Trade, an initiative spearheaded by the Nigeria Customs Service and Afreximbank to boost intra-African trade. The conference announcing the initiative will hold in Abuja from November 17 to 19. AfCFTA Secretary-General Wamkele Mene announced the official endorsement in Accra during a […]

Business

Africa must reduce reliance on US dollar – AfCFTA

The Secretary General of the AfCFTA Secretariat, Wamkele Mene, has called for a major shift away from the use of the US dollar in trade among African countries, describing the current reliance as both inefficient and unsustainable. Speaking on Wednesday at the 2025 Afreximbank Annual Meetings in Abuja, Mene underscored the importance of using local […]

News

Nigeria, Uganda boost trade ties under AfCFTA

Nigeria and Uganda have strengthened their trade relations with the appointment of Ani Bassey-Eyo as Uganda’s Trade Representative to Nigeria. This move is seen as a key step in advancing the implementation of the African Continental Free Trade Area agreement. The statement revealed that the appointment of Ani Bassey-Eyo was followed by the signing of […]

News

Nigeria’s first AfCFTA shipment reaches Kenya

Nigeria’s first shipment under the African Continental Free Trade Area has arrived at Mombasa Port, Kenya. The shipment was coordinated by the Nigeria AfCFTA Coordination Office, led by Olusegun Awolowo, in line with the mandate from the African Union’s 31st Ordinary Assembly decision. The Nigeria AfCFTA Coordination Office stated in a Sunday release that the […]

News

Experts warn Nigeria’s infrastructure deficiencies may hinder AfCFTA gain

Experts at the 2024 Maritime Reporters Association of Nigeria Annual Lecture in Lagos cautioned that Nigeria’s inadequate infrastructure could hinder its ability to fully benefit from the $3.4 trillion African Continental Free Trade Agreement. The experts shared their views in Lagos during the 2024 Maritime Reporters Association of Nigeria Annual Lecture, themed ‘AfCFTA: Dismantling Barriers, […]

News

FX crisis delays Nigeria’s engagement in $3.4tn AFCFTA

Nigerian exporters are facing challenges in participating in the African Continental Free Trade Area due to the ongoing foreign exchange crisis. Despite the Nigerian government’s efforts to promote exports through the Guided Trade Initiative, exporters are struggling to access the necessary foreign currency. In July, the federal government announced that ten Nigerian companies would begin […]

AfCFTA, UBA sign $6bn MoU to support SMEs
Business

AfCFTA, UBA sign $6bn MoU to support SMEs

The African Continental Free Trade Area secretariat and United Bank for Africa, one of Nigeria’s Tier One lenders, have signed a $6 billion memorandum of understanding to finance small and medium-sized businesses so they may take advantage of the opportunities provided by the AfCFTA. The Punch reported that this was said at the Nigerian Canadian […]

Nigerians not aware of all opportunities provided by AfCFTA - Stakeholders
Business

Nigerians not aware of all opportunities provided by AfCFTA – Stakeholders

Stakeholders of the African Continental Free Trade Area have expressed concern that Nigerians are not taking advantage of all the opportunities available to them. According to The Punch, the stakeholders who participated in a roundtable discussion on the AfCFTA and Trade-in-Services on Tuesday, hosted by the Centre for International Private Enterprises, disclosed that providing services […]

AfCFTA: Intra-Africa exports to surpass $1trn by 2035 - Standard Chartered
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AfCFTA: Intra-Africa exports to surpass $1trn by 2035 – Standard Chartered

Intra-Africa exports are expected to exceed $1 trillion by 2035 following the adoption of the African Continental Free Trade Agreement, according to a survey provided by Standard Chartered Bank Group. According to Vanguard, the global banking organization stated in a report titled “Future of Trade 2023” that the AfCFTA has become essential for promoting intra-African trade […]

AfCFTA: Intra-Africa exports to surpass $1trn by 2035 - Standard Chartered
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Why E-commerce is vital to $3.4tn AfCFTA market – Stakeholders

E-commerce, according to stakeholders, has the potential to expand the $3.4 trillion African Continental Free Trade Area market. The Punch reported that they made these remarks on Wednesday at a workshop in Lagos that looked at how Nigeria may benefit from the free trade initiative. The Lagos Chamber of Commerce and Industry organized the session […]

Nigerians not aware of all opportunities provided by AfCFTA - Stakeholders
Business

Nigeria to engage in continental trade initiative – AfCFTA

Nigeria’s National Working Committee for the African Continental Free Trade Area Executive Secretary, Segun Awolowo, has stated that the country is prepared to participate in the Guided Trade Initiative’s second phase. The goal of the AfCFTA initiative is to facilitate commerce between interested state parties through the connection of companies and goods for export and […]

Conferences

MANEG, AfCFTA secretariat train exporters to boost export revenue

The Manufacturers Association of Nigeria Export Promotion Group and Secretariat of the National Action Committee on the African Continental Free Trade Area has trained exporters in a bid to improve non-oil export enterprise in Nigeria.   Speaking at the flag-off of the training programme which took place in July, acting chairman of MANEG, Odiri Erewa-Meggison, […]

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