Afreximbank Pledges $25bn for Intra-African Trade

Afreximbank Pledges $25bn for Intra-African Trade

The Organised Private Sector has advised the government against signing the African Continental Free Trade Area agreement until further consultations and engagement have been held with stakeholders to address their concerns.

The agreement is touted by the African Union as encompassing a market of 1.2 billion people, and a gross domestic product of $2.5 trillion.

The special adviser to the president on media and publicity, Femi Adesina, briefing State House correspondents after the Federal Executive Council (FEC) meeting said it was expected that the minister of labour would call for a stakeholders meeting with labour movement to brainstorm on the implications of the CFTA framework agreement.

"And today, more than ever before, so too is the road we will travel together to get there", the Financial Times reported Paul Kagame, the President of Rwanda and Chair of the African Union stating.

Meanwhile, Mugambwa said that one of the challenges for the trade deal is that all countries on the continent that signed on to it might not move at the same pace.

Prof Botchway said political leadership is absolutely essential for effective intra-African trade on the scale required for sustainable development, adding that what is required is pragmatism and futuristic creativity.

The free-trade zone is the largest in the world since the creation of the World Trade Organisation in 1995. "We are working tirelessly to ensure that our airports are viable and self-sustaining hence this is the ideal time for Nigeria to host this prestigious event", said Rafindadi.

Curry available to make Warriors return against Hawks
The Warriors are 41-10 with Curry this season while scoring 118.7 points per game. "It's kind of a unusual , cruel twist of fate". Curry has been a pillar for the franchise, leading the Warriors to two National Basketball Association championships.

Mostly Sunny & Cool Today, Staying Below Average This Weekend
Sunday will start off dry, but another piece of energy sweeps through after supper, producing some rain that might turn to snow. Since snow is forecast so late in the season, WSDOT is extending the deadline to remove studded tires to April 15.

State unemployment hits record low in February
Statewide, 669,400 were employed and 14,050 unemployed in February for a total seasonally adjusted labor force of 683,500. The data are seasonally adjusted to take into account fluctuations from causes such as weather and holidays.

Sani Yan Daki, deputy director general of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), told Germany's Deutsche Welle news service: "Nigeria is still a developing economy". Ugandan President Yoweri Museveni and his Burundi counterpart, Pierre Nkurunziza, also skipped the gathering.

For many South African manufacturers, Africa can be the future. By this time it will account for 26 percent of the world's working age population.

Even though 44 countries signed up for AfCFTA, the agreement will have to be ratified by national parliaments of signatory countries after which the free trade area will come into effect. Talks began the following week to form a trade agreement for the entire continent, according to Bloomberg. These will focus on investment, competition and intellectual property rights.

Economists point to Africa's low level of intra-regional trade as one of the reasons for the continent's enduring poverty and lack of a strong manufacturing base. But, the report did warn that benefits and costs might not be distributed evenly across the African continent.

However, there are fears that the benefits of the free trade area could be unevenly distributed.

The World Trade Organization was formed in 1995 and comprises of 164 members.