[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”grid” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” z_index=”” background_color=”#ffffff” padding_top=”3vw” padding_bottom=”3vw”][vc_column][vc_column_text css=”.vc_custom_1620690418173{padding-top: 2vw !important;padding-right: 2vw !important;padding-bottom: 2vw !important;padding-left: 2vw !important;}”]New Report on African trade finance released
A collaboration between the African Export-Import Bank (Afreximbank), the United Nations Economic Commission for Africa (ECA), the African Development Bank (AfDB) and Making Finance Work for Africa Partnership (MFW4A). The report showcases how COVID-19 has affected trade finance in Africa. The report reveals a declining supply of trade finance that occurred at the beginning of the pandemic. It also touches upon how trade finance can help Africa bounce back from the pandemic. The whole report is available here.
Food and Agriculture Organization releases guide on boosting agricultural trade
The Food and Agriculture Organization (FAO) and the African Union (AU) have partnered to produce a guide for increasing intra-African trade in the agricultural sector. The framework focuses on changes to the market post the introduction of The African Continental Free Trade Area (AfCFTA) in January 2021. Africa as a whole currently imports $80bn worth of agricultural products annually with less than 20% of imports being between African countries. The framework will help policy makers implement strategies to boost intra-African trade. The full guide is available here.
New trade deal between Kenya and the Democratic Republic of the Congo
Kenya and the Democratic Republic of the Congo (DRC) have signed new trade, transit, and security deals between the two countries. handle cargo from the port of Mombasa that grants the DRC certain privileges for using Kenyan facilities. The aim of these deals is to address delays on DRC imports by dedicating clearing channels for the goods headed for the DR Congo market. Increase share of DRC bound goods travelling through Kenya. Read more about this new deal here.
LCCI becomes more engaged in Ports
The Lagos Chamber of Commerce and Industry (LCCI) has expressed concern over the state of ports in Lagos. Over 90 per cent of Nigeria’s imports and exports were conveyed via sea. Nigerian seaports are largely underdeveloped and ranked poorly compared to its peers in the West Africa sub-region. The chamber is seeking to play a major role in influencing policies and regulations to create an enabling environment for investors. Find out more about what the chamber president, Mrs. Toki Mabogunje, said here.[/vc_column_text][/vc_column][/vc_row]
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