AAEC deepens partnership with WAEMU through additional funding of 10 million CFA
The Africa Alliance for E- Commerce (AAEC) has renewed its partnership with West African Economic and Monetary Union (WAEMU) through an additional funding of 10 million CFA Francs this year to support the joint project between WAEMU-AAEC-AfDB.
The support will go towards improving the performance of the Africa e-Trade Hub platform to cater for the exchange of electronic certificates of origin as well as consolidating ongoing initiatives and further support Member States in the process of simplifying procedures and formalities.
This will enable WAEMU countries to access the sub-regional market and the African market, within the framework of the implementation of the Africa Continental Free Trade Agreement (AfCFTA).
Speaking during a courtesy call to WAEMU, AAEC Executive Committee President Amos Wangora said the partnership will contribute to the deepening of capacity building among Member States on trade facilitation and electronic commerce, through more simplified and dematerialized exchanges.
“As AAEC we believe that the Single Window stimulates the development of inter and intra regional trade in Africa and enables businesses to be more competitive in the markets and ready to meet the challenges of globalization. With the above initiative, we believe that jointly with WAEMU and other partners, we will contribute more to this agenda and make the Single Window more impactful,” Wangora, who is the current CEO of KenTrade noted.
Since their collaboration began in 2013, AAEC and WAEMU have signed two financial agreements, one signed in October, 2015 and renewed in August 2016 for an amount of 20 million CFA Francs.
The second agreement was signed in November 2017 and was renewed in March 2019 for an amount of 30 million CFA Francs.
“It is our hope that WAEMU will continue supporting AAEC to achieve the above and we are open to new partnerships and support in all the above areas and any other area that would be of interest to WAEMU. Of particular importance is the need for AAEC to sustain the maintenance and improvement of the joint WAEMU – AAEC and AfDB project and we will shortly be sharing with the Commission our proposal for the sustainability of the Africa e Trade Hub platform that we are requesting WAEMU to assist us in financing,” he noted.
During the AAEC General Assembly meeting held in Mombasa, Kenya in March 2022, a new Executive Committee for the AAEC was put in place to run the affairs of the Alliance for the next two years. This new Executive Committee is chaired by Kenya as the President and includes Morocco as the President of the General Assembly and Cameroon, Mozambique and Senegal as the Vice Presidents.
“As Kenya, we are delighted to have been elected to the position of the President of the Executive Committee of the Alliance and I wish to express my personal appreciation and that of the people of Kenya for this recognition. As a country, we wish to confirm our commitment and support to the AAEC and give our assurance for our continued support,” Wangora assured.
He thanked his predecessor immediate former President Isidore Biyiha for steering the AAEC so ably during the last five or so years in the middle of the Covid 19 crisis, noting that his contribution to the AAEC will remain a strong pillar for the future activities of the AAEC.
“Going forward, some of my areas of focus will include advocating for more countries to join the Alliance and implement the Single Window as a trade facilitation tool, building more capacity amongst members to implement and sustain the Single Window and other trade facilitation initiatives as well as mobilizing funds, publicizing and implementing AAEC activities and projects including the joint projects between WAEMU, AAEC and AfDB,” he concluded.
