The official start of free trading under the African Continental Free Trade Area (AfCFTA) in January 2021 moved a major continental aspiration closer to reality.
When Fidelis Adele, the CEO of Freetown-based Solid Graphics, a printing and communications company, needed to order some printing equipment from Nigeria in September, he paid an extra $165 on top of a $10,000 bank transfer to the seller. Yet it took three days for the money transferred in Sierra Leone to be credited to the beneficiary’s account in Nigeria.
One day in February 2020, Accra-based coffee and cocoa trader Meron Dagnew visited the Secretariat of the African Continental Free Trade Area (AfCFTA) to introduce herself, even before the Secretariat was fully operational.
is the United Nations Under-Secretary-General and Special Representative of the Secretary-General to the African Union.
As head of the UN Office to the African Union (UNOAU), she spoke with Africa Renewal’s Kingsley Ighobor
on, among other issues, the current state of the UN-AU partnership and how women and young people can help resolve conflict.
Government staffer Souhayata Haidara enjoys talking about her life in a patriarchal society. Her career is a triumph of patience and perseverance, she tells Africa Renewal with a smile and a wink.
In August 2018, French President Emmanuel Macron, German Chancellor Angela Merkel and British Prime Minister Theresa May visited countries in Africa, sparking hope of increased foreign direct investments (FDI) in the continent.
Following the unveiling of the African Continental Free Trade Agreement in Kigali, Rwanda, in March 2018, Africa is about to become the world’s largest free trade area: 55 countries merging into a single market of 1.2 billion people with a combined GDP of $2.5 trillion.
On a bright, sunny day in January this year, Liberian president Ellen Johnson Sirleaf turned over power to George Weah, a decorated soccer star, following peaceful and successful elections. This marked Liberia’s first democratic transfer of power in more than 70 years.
From “Africa Reeling” to “Africa Rising,” there’s a new narrative for the African continent, now showing promising signs of sustainable growth under more stable governments.
McKinsey & Company, a global management consulting firm, predicts that Africa’s combined GDP will be $2.6 trillion by 2020 and that “Africa’s consumer spending by 128 million households with discretionary income is expected to be around $1.4 trillion.”