{UAH} Shall we achieve the dream of a borderless AFRICA in 2020?!
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6:25 AM |
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The Africa Continental Free Trade Area (AfCFTA) and the dream of a single African Market and currency: some facts.
Source: World Economic Forum.
1. AfCFTA aims to create a free trade region among the nation of African Union. Should that be realised, the trading block will world's largest free movement and single-currency union.
2. Nigeria, South Africa and Egypt alone make up more than 50 percent of AFRICA'S cumulative GDP.
Nigeria ranks top at 400 billion USDs.
Unfortunately, Nigeria has so far abstained from the AfCFTA - obviously fearing that it's Economic strength will be watered down.
3. Eritrea and Benin are the other countries that have not signed the AfCFTA agreement.
In total, 22 countries have ratified AfCFTA or received parliamentary approval for it.
52 countries have signed the preliminary approval.
4. On 2nd April 2019, Gambia became the 22nd country to ratify AfCFTA and gave it the desired threshold to move the agreement forward.
5. 2020 is the year the agreement is to be implemented.
Shall we achieve the dream of a borderless AFRICA in 2020?
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-- Source: World Economic Forum.
1. AfCFTA aims to create a free trade region among the nation of African Union. Should that be realised, the trading block will world's largest free movement and single-currency union.
2. Nigeria, South Africa and Egypt alone make up more than 50 percent of AFRICA'S cumulative GDP.
Nigeria ranks top at 400 billion USDs.
Unfortunately, Nigeria has so far abstained from the AfCFTA - obviously fearing that it's Economic strength will be watered down.
3. Eritrea and Benin are the other countries that have not signed the AfCFTA agreement.
In total, 22 countries have ratified AfCFTA or received parliamentary approval for it.
52 countries have signed the preliminary approval.
4. On 2nd April 2019, Gambia became the 22nd country to ratify AfCFTA and gave it the desired threshold to move the agreement forward.
5. 2020 is the year the agreement is to be implemented.
Shall we achieve the dream of a borderless AFRICA in 2020?
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Allaah gives the best to those who leave the choice to Him."And if Allah touches you with harm, none can remove it but He, and if He touches you with good, then He is Able to do all things." (6:17)
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