A free trade agreement was signed this Wednesday, March 21 between forty-four African countries. A Continental Free Trade Area (Zlec) has therefore been created. For the African Union, this agreement is essential for the economic development of the continent. Moussa Faki, chairman of the AU Commission said, in conclusion of a summit of the organization in the Rwandan capital ” The agreement establishing the Zlec was signed by 44 countries “. One of the most powerful economies, Nigeria, abstained in the signing of this agreement. To give more time for consultations in his country, Nigerian President Muhammadu Buhari decided not to go to Kigali. In Nigeria, there is some opposition to this agreement. In addition to Nigeria, there are Eritrea, Burundi, Namibia and Sierra Leone. Protectionist countries, like Algeria, signed the agreement. The African Union Commission Chairperson Moussa Faki Mahamat who disclosed the number of signatories to the African Continental Fr...
This is amazing and coming in at the very tight time! As Europe seems to be threatening to fall apart and the US is tightening it’s borders Africa is opening up. The African Union wrote in a statement last year: The Twenty seventh (27th) Ordinary Session of the African Union Assembly of Heads of State and Government kicked off on 17 July 2016 at the Kigali Convention Centre (KCC), Rwanda, with a strong call for unity and love for the continent. The opening ceremony was marked by a symbolic act of Pan-Africanism with the launch of the African Union (AU) passport aimed at facilitating the free movement of people on the continent. H.E. Mr. Idriss Deby Itno, Chairperson of the AU and President of the Republic of Chad, and President Paul Kagame of the Republic of Rwanda received the first passports handed to them by the Chairperson of the AU Commission, H.E. Dr. Nkosazana Dlamini Zuma. “I feel deeply and proudly a true son of Africa after receiving this passport”, said Pres...
The United States Consul-General in Nigeria, Mr John Bray, on Thursday said that Nigeria would be able to overcome her current economic recession by attracting more Foreign Direct Investment.Bray gave the advice in Lagos at this year’s Annual Lecture of the Hubert H. Humphrey Fellowship Alumni Association. The theme of his keynote address was “The Challenges and Opportunities of Managing a Recessionary Economy: The American Experience.” “As the most populous country on the continent and as the largest economy in Africa, Nigeria clearly stands to gain from increasing its attractiveness to foreign investors. “As in the case for the U.S. economy, FDI offers much to contribute to Nigeria’s ability to grow its economy and increase its global competitiveness. “I hope that Nigeria will use the current recession as an opportunity to adopt and implement economic reforms to address challenges that existed before the current recession,’’ he said. Bray said that the U.S. wou...
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