We value your privacy

We use cookies to enhance your browsing experience, serve personalized ads or content, and analyze our traffic. By clicking "Accept All", you consent to our use of cookies. Cookie Policy

Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Africanian
  • Home
  • News
  • News 24/7
  • Politics
  • Business
  • Health
  • Sports
  • Travel
  • World
    • US
    • Russia
    • Europe
    • Asia
    • America
  • Events
No Result
View All Result
Africanian
  • Home
  • News
  • News 24/7
  • Politics
  • Business
  • Health
  • Sports
  • Travel
  • World
    • US
    • Russia
    • Europe
    • Asia
    • America
  • Events
No Result
View All Result
Africanian
No Result
View All Result
Home Business

Let’s push the African Continental Free Trade Area as a sure-fire way to a golden “made in Africa” label, leaders say at Intra-African Trade Fair

That history repeats itself need not be a bad thing in Africa, South African President Cyril Ramaphosa stressed during the opening ceremony of the second Intra-African Trade Fair in Durban, South Africa.

Let’s push the African Continental Free Trade Area as a sure-fire way to a golden “made in Africa” label, leaders say at Intra-African Trade Fair
Share on FacebookShare on TwitterShare via Whatsapp

Speaking on Monday, the president recalled that for centuries in pre-colonial times, Africa was a thriving trade hub. Now the continent is “taking concrete steps to write its own economic success story.”

“I think many of us long to see that wonderful and golden label — ‘made in Africa’– not made anywhere else in the world. This is critical if we are to change the distorted trade relationship that exists between African countries and the rest of the world,” Ramaphosa told the audience in Durban, home to one of the busiest harbors in Africa.

The biennial Intra-African Trade Fair was launched in 2018 to be a springboard for the African Continental Free Trade Area (AfCFTA). Organized by the African Export-Import Bank (Afreximbank) in collaboration with the African Union (AU) and the AfCFTA Secretariat, the Fair brings together development, trade and investment communities to negotiate deals and agree on the steps required to promote intra-regional trade.

The AfCTA, which became effective this year, aims to become the world’s largest trade zone since the World Trade Organization in 1994, with the potential to boost African incomes by billions of dollars in the next decade. Speakers at the Trade Fair said such promise was especially relevant as the continent tries to rebuild in the wake of the Covid-19 pandemic.

Citing successful deals from the maiden Trade Fair, Afreximbank CEO Benedict Oramah dismissed skepticism about African countries’ ability to significantly boost trade among themselves, which currently stands at around 18% of total goods that cross national borders.

Oramah said Afreximbank was 100% behind Africa’s trade pact. “This fair is a starting point. The other reasons why they are wrong: Today, we have a strong and dynamic AfCFTA secretariat with knowledge and energy to drive the AfCFTA agenda.”

The 2018 Trade Fair delivered deals worth about $32 billion, of which around $25 billion had been implemented and another $2.5 billion are being processed. Its offshoots include a young Nigerian entrepreneur who now produces drones for agricultural use in Singapore, a major solar power scheme roll-out by an Egyptian company in South Sudan, and a 2,100 MW hydroelectric project in Tanzania, fully funded by African banks.

The 2021 Trade Fair is expected to produce deals worth about $40 billion. Future events will feature an auto show as part of a larger strategy to capitalize on the industrialization potential of the sector. Oramah pointed out that the average vehicle boasts over 30,000 components, creating room for industries such as rubber in Nigeria, Cameroon and Côte d’Ivoire, not to mention petrochemicals.

Wamkele Mene, Secretary General of the AfCFTA secretariat, said the pact would not succeed without the private sector, small and medium enterprises, and young entrepreneurs. Citing the case of the European Union, he said the journey to market integration was difficult and took time.

“We as Africans will have to roll up our sleeves, work hard, and ensure that we overcome the challenges. I’m very positive about the prospects of the future of our continent, based on the very first steps that we’ve taken to overcome the challenges of market fragmentation,” Mene said.

Mene recently met with African Development Bank Group President Dr. Akinwumi A. Adesina, who said implementing the free trade area would become a vital component of the Bank’s lending program. During a panel discussion on Monday, Adesina reiterated the Bank’s support.

“The African Development Bank Group is a staunch supporter of the African Continental Free Trade Area. Especially now, as we build back better from the Covid-19 pandemic, the need to boost intra-regional trade has never been greater,” Adesina said in a video message. “Together, there is no limit to what we can achieve.”

African leaders who attended the ceremony included Nigerian President Muhammadu Buhari, President Emmerson Mnangagwa of Zimbabwe, Malawi’s President Lazarus Chakwera, President Hussein Mwinyi of Zanzibar, Zambian President Hakainde Hichilema, and Rwandan Prime Minister Édouard Ngirente.

The 2021 Intra-African Trade Fair closes on Sunday, 21 November. It has attracted 1,100 exhibitors and 11,000 registrations. The next Trade Fair will be held in 2023 in Côte d’Ivoire.

Source: AfDB

RelatedPosts

Liberia launches youth bank that will create 120,000 jobs and fund 30,000 businesses.

Liberia launches youth bank that will create 120,000 jobs and fund 30,000 businesses.

July 25, 2025
Liberia unleashes youth capital to dream big

Liberia unleashes youth capital to dream big

July 22, 2025
Equatorial Guinea: Africa Oil to Participate in the 3rd Annual Supply Chain & Logistics Summit

Equatorial Guinea: Africa Oil to Participate in the 3rd Annual Supply Chain & Logistics Summit

July 21, 2025
Beijing to Host 3rd China International Supply Chain Expo in July 2025

Beijing to Host 3rd China International Supply Chain Expo in July 2025

July 19, 2025
AfriLabs and ATU Sign Landmark Deal to Accelerate Digital Innovation Across Africa

AfriLabs and ATU Sign Landmark Deal to Accelerate Digital Innovation Across Africa

July 19, 2025
Kenya turns resources into results: the economy grows and strengthens

Kenya turns resources into results: the economy grows and strengthens

July 17, 2025
Nigeria accelerates economic transformation with key reforms and signs of recovery

Nigeria accelerates economic transformation with key reforms and signs of recovery

July 7, 2025
Rwanda combines youth innovation and circular economy to build a resilient nation

Rwanda combines youth innovation and circular economy to build a resilient nation

July 3, 2025
7 Tracks, 1 Future: AfriLabs Annual Gathering 2025 Sets the Stage for Africa’s Innovation Renaissance

7 Tracks, 1 Future: AfriLabs Annual Gathering 2025 Sets the Stage for Africa’s Innovation Renaissance

June 25, 2025
Africanian News Is a dedicated project aimed at amplifying the voices of the African Ecosystem and Diaspora. We actively collaborate with initiatives to improve access to education and digital inclusion, both in traditional schools and through digital platforms, for African children.

It’s crucial to emphasize that none of the articles or images featured on our platform are intended for copyright infringement, neither now nor in the future.
If you believe that any information, text, image, etc., may be subject to copyright and should be removed, please notify us by sending an email to: info@africanian.com

News Categories

  • America (39)
  • Asia (129)
  • Business (1,184)
  • Culture (185)
  • Destinations (52)
  • Entertainment (53)
  • Environment (5)
  • Europe (153)
  • Food and Drink (14)
  • Guides & Tips (20)
  • Health (622)
  • Hotels (4)
  • Meetings (26)
  • News (2,571)
  • Opinion Piece (12)
  • Politics (463)
  • Russia (73)
  • Science (63)
  • Sports (308)
  • Style (4)
  • Tech (318)
  • Trailers (2)
  • Travel (148)
  • US (107)
  • World (426)

Your dreams matter; your stories matter.

Feel free to explore collaboration opportunities with us. Share your articles, thoughts, interviews, experiments, or no-comment videos by reaching out to info@africanian.com.

You can also subscribe to our mailing list to receive the latest updates from Africanian News.

Newsletter

© 2025 Africanian News.

ar Arabiczh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanish
en English

Log In

Sign In

Forgot password?

Don't have an account? Register

Forgot password?

Enter your account data and we will send you a link to reset your password.

Back to Login

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Accept

Add to Collection

  • Public collection title

  • Private collection title

No Collections

Here you'll find all collections you've created before.

No Result
View All Result
  • Home
  • News
  • Business
  • Health
  • Sports
  • Tech
  • Travel
  • World

© 2025 Africanian News.