SHARE

Nigeria’s President Muhammadu Buhari Signs Africa Free Trade Agreement

Must Read

Black Billionaires: Top 15 Richest Black People in the World (2021)

Nigerian Cement tycoon 'Dangote' is the richest black person in the world, with a fortune estimated at $11.9 billion (as of January, 2021).

7 Little Known Facts About The Atlantic Slave Trade

Here are 7 Little known facts about the atlantic slave trade that saw a vast majority of africans transported...

Top 15 Highest Grossing Nollywood Movies Ever (Updated: 2021)

These are the Top 15 Highest Grossing Nollywood Movies of all time. Revenues from special screenings, DVD sales, online...
SHARE



President Muhammadu Buhari who is currently in Niger Republic attending African Union Summit has siganed the Africa Free tarde Agreement.

President Buhari signs Agreement establishing African Continental Free Trade Area (AfCFTA) at the Opening of the 12th Extra Ordinary Session of the Assembly of African Union Heads of State and Government in Niamey Niger Republic on 7th July 2019.

The AfCFTA agreement took effect on May 30 after achieving the minimum ratification by 22 countries.

According to Mr Muchanga, the Extra-Ordinary Summit will provide the way forward on when African business people will actually start trading with each other.

“Heads of state and governments will give guidance on when the actual trading will start. It may be within six months or 12 months,” he said.

Intra-Africa trade has historically remained low at 15 per cent comparing unfavourably with Europe (68 per cent), North America (37 per cent), and Latin America (20 per cent), due to trade barriers and poor transport and telecommunication connectivity on the continent.

It is estimated that the average tariffs on intra-African trade are about 6.1 per cent, which is higher than those imposed on exports outside the continent.



Uzonna Anele
Anele is a web developer and a Pan-Africanist who believes bad leadership is the only thing keeping Africa from taking its rightful place in the modern world.

Leave a Reply

Just In

Black Billionaires: Top 15 Richest Black People in the World (2021)

Nigerian Cement tycoon 'Dangote' is the richest black person in the world, with a fortune estimated at $11.9 billion (as of January, 2021).

7 Little Known Facts About The Atlantic Slave Trade

Here are 7 Little known facts about the atlantic slave trade that saw a vast majority of africans transported as slaves to a whole...

Top 15 Highest Grossing Nollywood Movies Ever (Updated: 2021)

These are the Top 15 Highest Grossing Nollywood Movies of all time. Revenues from special screenings, DVD sales, online streaming and theatrical screenings outside...

10 Incredible Stories About The Exploration Of Africa

Africa has long been a mysterious, magical, and interesting place. The northern parts were explored first, leaving the rest of the land long shrouded...

12 Disturbing Facts About Child Marriage In Africa

The cultural practice of early marriage is one of the most potent threats to the rights of children in modern times with its disturbingly...

More Articles Like This