Afreximbank

African Export-Import Bank (Afreximbank) on Thursday called for innovative finance solutions for the successful implementation of the Africa Continental Free Trade Area (AfCFTA).

Emeka Uzomba, senior advisor at Afreximbank, told a virtual forum that the continent has made numerous attempts on liberalizing trade, which have not been successful due to the absence of finance elements.

“We, therefore, need to create our own solutions to finance businesses to take advantage of opportunities presented by the AfCFTA,” Uzomba said during the Kenya Association of Manufacturing forum on Small and Medium Enterprises.

The AfCFTA was launched in January which seeks to create a single continental market and so far 36 countries have ratified the agreement.

While saying that one of the reasons for low intra-Africa trade as compared to other regions is the lack of affordable financing for businesses to engage in cross-border trade, Uzomba observed that the availability of trade finance will help catalyze the exchange of goods and services among the African nations. Enditem

Disclaimer: News Ghana is not responsible for the reportage or opinions of contributors published on the website.

Send your news stories to [email protected] and via WhatsApp on +1-508-812-0505 

For Latest Updates Follow us on Google News
Previous articleZambian leader calls for enhanced dialogue ahead of polls
Next articleCameroonian minister calls for identifying gun holders amid rising insecurity
Xinhua News Agency, Xinhuanet is an important central news service-oriented website, an important information organ of the central government, and an important platform for building up China's online international communication capacity. Established on November 7, 1997, as an online news provider of the Xinhua News Agency, it was officially named Xinhuanet on March 10, 2000 and began around-the-clock news release with leading online public opinion at home and setting a good image of China abroad as its main task.

LEAVE A REPLY

Please enter your comment!
Please enter your name here