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The United Nations Economic Commission for Africa (UNECA) has disclosed that only eleven African countries have validated the African Continental Free Trade Area (AfCFTA) agreement implementation strategies.

Mrs. Vera Songwe, UN Under-Secretary-General and Executive Secretary, UNECA, made this disclosure during her opening remark at the 39th session of the Committee of Experts.

Songwe listed the countries to include Mauritania, Senegal, The Gambia, Guinea, Sierra Leone, Côte d’Ivoire, Togo, Niger, Cameroon, Zambia, and Zimbabwe. She also added that countries in the drafting phase are: Algeria, Burkina Faso, Chad, Congo, Kenya, Namibia, and Malawi.

The  Executive Secretary further noted that countries that were in the inception phase were Nigeria, Tunisia, Guinea-Bissau, Benin, Gabon, Equatorial Guinea, Sudan, Tanzania, Botswana, Mozambique, and Eswatini.

Also Read: FG outlines steps to be taken by businesses to export to AfCFTA countries

In his remarks, Amb. Tesfaye Sabo, the Permanent Representative of Ethiopia to the African Union and UNECA, said Africa had made a robust effort under the leadership of the African Union, to grapple with this pandemic and to reduce its socio-economic impact.

Sabo said this was done by working with global partners and through mobilisation of the African people.

UNECA is one of the UN’s five regional commissions whose mandate is to promote the economic and social development of its member States, foster intra-regional integration, and promote international cooperation for Africa’s development.

The United Nations Economic Commission for Africa (UNECA) has disclosed that only eleven African countries have validated the African Continental Free Trade Area (AfCFTA) agreement implementation strategies. Mrs. Vera Songwe, UN Under-Secretary-General and Executive Secretary, UNECA, made this disclosure during her opening remark at the 39th session of the Committee of Experts. Songwe listed the countries to include Mauritania, Senegal, The Gambia, Guinea, Sierra Leone, Côte d’Ivoire, Togo, Niger, Cameroon, Zambia, and Zimbabwe. She also added that countries in the drafting phase are: Algeria, Burkina Faso, Chad, Congo, Kenya, Namibia, and Malawi. The  Executive Secretary further noted that countries that were in the

As part of renewed commitment towards ensuring inclusive economic development, promoting sustainable investment, and creating jobs for all, especially for its populace, the federal government of Nigeria yesterday flagged off three major projects worth $3.2bn, aimed at boosting the country’s participation in the Africa Continental Free Trade Area.(AfCFTA) The three projects include the Port Harcourt-Maiduguri Eastern Narrow Gauge railway, Bonny Deep Seaport and Railway Industrial Park, Port Harcourt. The rehabilitation and reconstruction of the Port Harcourt- Maiduguri railway project, Bonny deep Sea Port and Railway Industrial Park, Port Harcourt are being developed through direct investment by the conglomerate led Messrs CCECC Nigeria

The African Union is setting up a fund to finance the construction of much-needed roads, railways and power plants on the continent, its infrastructure head said, turning to new sources of cash due to donor fatigue and higher debt levels. The continent has an estimated annual infrastructure financing deficit of $60 billion-$90 billion, the AU says, making it hard for the body to advance its goal of integrating the disparate individual markets into a single, free trade area. "Africa is financially starved as far as the need for infrastructure development is concerned," Raila Odinga, who is the AU's high representative for infrastructure,

January 1st, 2020, signaled the commencement of AfCFTA (African Continental Free Trade Area), a flagship project of the African Union’s Agenda 2063 to stimulate intra-African trade. The project aims to create a single continental market for goods and services through a comprehensive agreement by member countries that will see more African resources traded within the continent. The agreement will cover 1.2 billion people with an estimated combined consumer and business spending amounting to $6.7 trillion in 2030.

New Release: The African Economic Congress 2020 Report.