Bob Koigi, East Africa Region Chief Editor atAfrica Business Communities: "In its May report, the International Monetary Fund, IMF, hailed the African Continental Free Trade Area, AfCFTA, as an economic game changer akin to those that have previously bolstered growth in North America and Europe.
Days after becoming operational, the continental free trade pact is already exciting markets and investors with the promise of a combined population of more than 1.2 billion people, a cumulative GDP of $3 trillion and total consumer and business spending of over $4 trillion.
As it seeks to address the fundamental question of removing trade barriers and tariffs, with member countries agreeing to remove tax on an estimated 90 per cent of 200 items that are traded in the continent, the free trade area that has been billed the largest world-over after the World Trade Organization, is poised to boost Africa’s competitiveness globally and has fortified efforts of making Africa a primary destination for global investors... read the full contribution of Bob here
Saadi Arezki, management consultant: "The African Continental Free Trade Area, AfCFTA, would’ve been indeed a real economic game changer as mentioned in your post within LinkedIn... If and only if it was supported by an African Transport and Logistics Sector, a sector that remains the BACKBONE of every single economy, boosting national activities and filling a strong leverage effect on the GDP, ensuring an efficient integration of national activities, strengthening each country and enabling its efficient integration into the region it belongs to, strengthening every region and enabling each region to be integrated into neighbouring regions, up to the integration of the whole continent.
This African Transport and Logistics Sector would boost every country’s national production, processing and conditioning and trading.
Unfortunately, Africa is missing infrastructures and logistic operators. Its international commerce is under total dependence on foreign carriers and foreign operators are controlling large strategic infrastructures such as ports, and rail networks.
You may compare the freight costs for a single 40' Container shipped from Shanghai to:
• Abidjan, or Bamako, or any other East, North or West African port • Any secondary North European port
Then the same comparison on the other way.
You will be surprised at the huge gap between both areas, showing the tremendous extra financial cost that our continent has being undergoing. We are missing a strategic step at making the African Continental Free Trade Area, AfCFTA, a reality for our continent. Such set up could be achieved within shortest delay. We may gather our efforts and make it happen, provided decision makers are ready to consider.”
[Events] The Land Accelerator | 7-12 September 2019 | Nairobi | Kenya
A game-changing event took place in 2018 that breathed new life into old land: the first cohort of the Land Accelerator brought together entrepreneurs from seven countries across Africa. The magic will happen again from September 7-12, 2019, in Nairobi, Kenya. The program is free to attend and takes no equity. Also, travel costs will be covered.
The Land Accelerator is an action-packed 6-day program to train and mentor entrepreneurs from across Africa, including business education, technical lectures, and a Demo Day where participants will pitch to prospective investors... read more here