Africa Continental Free Trade Area to ease up trade in the continent

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The African Union, which will this year be under the leadership of South Africa, is backing the creation of the world’s biggest free-trade zone by area, the Africa Continental Free Trade Area, to ease up trade in the continent.

No doubt it has limited trade between nations on the continent to just 15% of all export and import commerce compared with more than 70% in Europe.

Of the continent’s 54 nations all except Eritrea, a country in the horn of Africa that rivals North Korea in its isolation, have signed up. The goal of greater economic integration across Africa has long been to help some of the world’s poorest nations. Now the project is even more important because it would provide greater negotiating strength in an environment where the top economic powers are at each other’s throats.

Next week the US and Kenya are expected to announce they’re starting negotiations on a free-trade agreement during President Uhuru Kenyatta’s visit to the US capital.

 

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African leaders speak .. speak and speak no action

doing my final year at UJ in Electrical &Electronics Engineering. I have three subjects left for me in order to graduate. But I cannot register because NSFAS refuses to pay outstanding fees from last year What funny is that I was awarded funding by them last year

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