Africa Business Ghana World 

The African Continental Free Trade Area is now operational

– – The much anticipated African Continental Free Trade Area (AfCFTA) has become operational effective January 1, 2021 after months of delay due to the coronavirus pandemic. Officials of the secretariat in-charge of executing the trade zone had promised the deal will be operational on July 1, 2020. But when the Covid-19 hit hard, it affected plans and forced the setting of a new date for operating the deal. African Union Heads of State and Government during a virtual meeting of the 13th Extra Ordinary Session of the Assembly of…

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Africa Business World 

African trade to be impacted by No-deal Brexit and Covid-19

– – A No-Deal Brexit compounded by the COVID-19 pandemic could see UK GDP fall by 6% and lose £134 billion pounds annually according to The Outlook for Trade after Brexit report. Thereport, from the leading legal global law firm Baker McKenzie and economic consultancy Oxford Economics, covers four sectors of the UK economy, automotive, consumer goods, healthcare and technology which make up around 40% of the UK’s manufacturing GDP and export 46% of their goods to the EU. The report forecasts the combined economic costs of Brexit and the COVID-19 crisis on…

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Africa Business West Africa World 

Where does Intra-Africa trade fits as world scrambles for Africa

The just ended Russia-Africa summit in Russia’s southern coastal city of Sochi has raised some concerns about the place of intra-Africa trade in what seems to be the second coming of the Eastern Europe and North Asia Giant to the Resource rich continent. Between October 23 and October 25, 2019, 43 Heads of State on the continent met with Russia’s President Vladmir Putin for the very first Russia-Africa Summit and Economic Forum. The meeting, co-hosted by Egypt’s President Abdel Fattah el-Sisi touched on matters ranging from security to economy, healthcare…

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Africa Ghana Nigeria West Africa World 

Ghanaian traders push for ban on imports from Nigeria

Ghana’s government is under pressure to ban all imports from Nigeria as a sign of disapproval to the ongoing closure of Nigeria’s borders with neighbouring West African countries. Nigeria, Africa’s top oil producer has for months now closed its borders to stop what it claims was the smuggling of rice, weapons and sub-standard goods into the country. But the closure is having devastating effects on other ECOWAS member states like Ghana. Ghana’s Union Traders Association (GUTA) is now requesting that Ghana’s government also closes its eastern corridor to all imported…

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Africa Business World 

The US-Africa trade pact losing it’s spark

The United States in the past was the place to go for sub-Saharan African countries in terms of trade. It used to be the leading trading partner of Africa, especially sub-Saharan Africa but that is changing. The emergence of China on the scene over the past decade has meant that African countries now have an alternative super power to deal with. China is willing to give many African countries what they seem to want – that’s aid for projects China is not willing to force on them. There are no…

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