• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Thursday, June 5, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home News

South African ratifies AfCFTA

The Matters Press by The Matters Press
December 6, 2018
Reading Time: 2 mins read
0
South African ratifies AfCFTA

Trade

Trade

The African Continental Free Trade Area (AfCFTA) agreement signed by South Africa in July 2018 in Nouakchott, Mauritania, has been ratified by the parliament.

RELATED POSTS

PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

IMPI urges media to consider national interest in reporting security challenges

The AfCFTA was launched during an extra-ordinary summit of African Union (AU) heads of state in March 2018 in Kigali, Rwanda.

Thus far, 49 countries have signed the Agreement and Kenya, Ghana, Rwanda, eSwatini, Chad, Niger, Sierra Leone, Uganda and Guinea Conakry have deposited their instruments of ratification.

But Nigeria is one of the few remaining countries that have withheld their signatures.

South African Trade and Industry Minister, Rob Davies, said the country was expected to deposit the instrument of ratification during the 32nd Ordinary Session of the Assembly of the AU in February 2019.

The Agreement will enter into force once twenty-two member states have deposited their instruments of ratification.

“AfCFTA, comprises of 55 African countries and, once entered into force, will constitute the largest free trade area globally.

As a flagship project of the African Union’s Agenda 2063, the AfCFTA aims to build an integrated market in Africa that will see a market of over one billion people with a combined GDP of approximately $3.3 trillion,” Davies said.

The United Nations Economic Commission for Africa estimates that the AfCFTA will increase intra-Africa trade from the current 10 percent to 16 percent, to approximately 52 percent by the year 2022.

Davies said that the AfCFT will create a single set of rules for trade and investment among all African countries and provides legal certainty for traders and investors through the harmonisation of trade regimes.

“In support of these objectives, the AfCFTA covers both goods and services under Phase I and will include investment, intellectual property and competition under Phase II of the negotiations,” Davies said.

“It also facilitates intra-Africa investment and increases the continent’s prospects of stimulating industrialisation, employment, income generation and poverty reduction.” Business report

Tags: Free TradeSouth Africa
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Energy

PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF

June 4, 2025
News

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

June 3, 2025
Economic implications of Niger coup to Nigeria, ECOWAS
Economy/Technology

IMPI urges media to consider national interest in reporting security challenges

June 3, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
News

Malami’s opposition to Tinubu’s endorsement self-indicting – TDF

June 3, 2025
President Tinubu outlines new economic, monetary, foreign policies
Economy/Technology

CUPP goofs over President Tinubu’s 2027 endorsement by governors

June 2, 2025
Senate probes $3.5b with NNPC
Economy/Technology

Senate’s stance on Nigeria’s Legislature-Executive Relationship, thrilling

May 30, 2025
Next Post
Economist predicts danger for Africa’s economic growth

44 nations in Africa free trade deal

Commission plans to liberate 38% illiterate Nigerians

Commission plans to liberate 38% illiterate Nigerians

Recommended Stories

Stakeholders commend NNPC for good performance

NNPC remits $2.7bn to CBN

August 1, 2022
Nigeria targets $1trn GDP growth in 8 years – Cardoso

Nigeria in “Stabilisation Phase” – Cardoso

January 25, 2024
Jaiz Bank expands with new branches

Emefiele explains Naira stability at I&E window

March 24, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF
  • FCT ground rent!: Check your name if you own property
  • Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us