AfCFTA Secretariat and AFRICA24 sign MoU to Boost Trade in Africa; Shape African Narratives
The Secretariat of the African Continental Free Trade Area (AfCFTA) and AFRICA24, Africa’s leading TV media group, have signed a Memorandum of Understanding (MoU) to promote the Continental Free Trade Area and African Economic Integration through various high-impact actions
The MoU was signed at the AfCFTA Secretariat’s headquarters in Accra by AfCFTA Secretary General Mr. Wamkele Mene and Founder of Groupe AFRICA24, Constant Nemale.
The partnership aims to implement three major initiatives.
Promotion of priority projects.
The MoU will facilitate the promotion of actions to realize key projects in infrastructure, energy, industry, transport, logistics, new technologies, and other initiatives that contribute to Africa’s accelerated development.
Highlighting African enterprises
The agreement will promote African commercial enterprises whose achievements align with AfCFTA’s objectives across the continent.
Raising awareness
Efforts will be made to raise awareness among the continent’s citizens, young entrepreneurs, and women about the benefits and opportunities of the AfCFTA, which aims to create a single continental market for goods and services with free movement of people and trade flows.
The partnership will also involve the creation of multimedia content to enhance the impact of intra-African trade, mutual organization and participation in AfCFTA events, and the co-organization of specific meetings, summits, forums, and webinars. AfCFTA experts will contribute to content production, and the collaboration will aggregate media across the continent on this new platform.
At the signing ceremony, Secretary General of the Secretariat , Mr Wamkele Mene emphasized the importance of media in the success of the continental free trade policy. He highlighted that the partnership with AFRICA24, leveraging its expertise and leadership, will raise awareness among all the continent’s citizens about the AfCFTA’s priority objectives, particularly the establishment of an economic area benefiting all African peoples and countries.
Mr Mene addressed concerns regarding the Secretariat’s ability to provide data supporting claims of the trade deal’s success, emphasising that determining the level of trade under the agreement would take time.
Mr. Mene acknowledged the concerns about the lack of immediate data but reassured stakeholders that comprehensive and accurate trade data would be available in due course. He explained that the complexities of measuring trade volumes and the time required for proper data collection and analysis were factors contributing to the current situation.
“The AfCFTA is a groundbreaking initiative, and its full impact will be realized over time as member states implement the necessary protocols and mechanisms,” Mr. Mene stated. “We are committed to transparency and will provide detailed data as soon as it becomes available.”
The AfCFTA, launched in January 2021, aims to eliminate tariffs on 90% of goods, reduce barriers to trade in services, and foster investment and innovation. Despite its potential, the agreement faces challenges, including infrastructural deficits, non-tariff barriers, and the need for member states to harmonize regulations.
The partnership with AFRICA 24 is a strategic move to address these challenges by increasing visibility and support for the AfCFTA’s objectives. Through this collaboration, the Secretariat hopes to drive greater participation and commitment from both public and private sectors across the continent.
Founder of the AFRICA24 Media Group, Constant Nemale, expressed pride in joining the AfCFTA Secretariat in the historic agreement. He noted that the MoU aligns with objectives set by the African Union and will enable AFRICA24 to amplify the positive effects of the AfCFTA on the continent’s economic growth and integration. He also highlighted AFRICA24’s role as a catalyst for bringing together media across Africa for a common action and vision.
The multi-year MoU represents a significant asset for both the AfCFTA Secretariat and the AFRICA24 Group, providing a platform for innovative and inclusive collaboration aimed at building a more integrated and prosperous Africa in line with the African Union’s Agenda 2063
Source:newsflashafrica.com
