Trade between African countries has the greatest potential for building sustainable economic development and integration.
Senior analyst, Parthian Partners, Okiki Oladipo said, despite the potential of the AfCFTA agreement, implementation still remained an eyesore given the state of infrastructure among African countries and the issues of economic ties.
“For Nigeria to be better positioned to milk the benefit, there is a need to promote Industrialisation in the country vis-a-vis fixing infrastructures that would aid optimal production cost. Secretary general of the AfCFTA Secretariat, Wamkele Mene said, with the inclusion of a vision for an integrated African market in the founding treaty of the OAU, the founding fathers of the AU had foreseen the need for Afreximbank, saying, the vision had been grounded in the objective of the integration of African trade finance.
Mene commended the support and collaboration which Afreximbank had provided for the implementation of the AfCFTA, including the introduction of the AfCFTA Adjustment Fund and the establishment of the Pan-African Payment and settlement System , saying that support was critical as Africa sought to rely on itself to create a better future.
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