The Executive Chairman of AfCFTA Trading Company is optimistic that a Memorandum of Understanding (MoU) between AfCFTA Trading Company and the government of Kenya will yield significant results in the implementation of the AfCFTA.
AfCFTA Trading Company believes that this move will result in a financial turnover of about $1 billion as the company positions itself as a key player in facilitating the seamless movement of goods across the continent under the free trade pact.
In an interview with CNBC Africa, the Chairman of AfCFTA Trading Company explained that they are making strategic investments in port infrastructure and logistics, particularly in Kenya, as part of efforts to bridge trade gaps and overcome existing barriers between West and East Africa, specifically between Ghana and Kenya.
“The MoU is intended to facilitate business between the countries, and it is quite comprehensive. We are moving almost 100 containers with an annual turnover of about US$1 billion. However, it involves more support services for each country, which is why it is bilateral,” he said. He emphasised that infrastructure remains a key component of implementing trade activities under AfCFTA, adding that making these investments is crucial for the successful movement of goods and services across the continent.
As a free trade area connecting 1.3 billion people across 55 countries, with a combined Gross Domestic Product (GDP) of US$3.4 trillion, the AfCFTA, which is headquartered in Ghana, promises immense new markets, accelerated industrialisation, and fresh investment opportunities.
Source : Ghana Web