Follow Us on Google
By Merit Ibe
At the margins of the 41st ordinary session of the executive council of the African Union, in Lusaka, Zambia, the African Continental Free Trade Area (AfCFTA) and Equity Group signed a Memorandum of Understanding to deepen the economic integration of the African continent. The partnership seeks to implement the AFCFTA and the AfCFTA private sector strategy through ‘Africa recovery and resilience plan, which focuses on acceleration of economic recovery and resilience in Africa in a post COVID- 19 environment. The initiative is designed to showcase a framework for the socio-economic transformation of the african continent based on six integrated pillars. It is aimed at catalysing a natural resource-led transformation of Africa, enhancing agriculture output, formalising extractive value chains and connecting these primary sectors to global supply chains that are broken and require diversification and secured sourcing.
During the signing, H.E Wamkele, Secretary General of the AfCFTA, Secretariat, noted that “the AfCFTA will ensure the continent is well positioned to overcome crises such as COVID-19, leveraging on the framework of the agreement.”
