The World Bank ranks many countries in Africa among the hardest places to do business.
However, an ambitious project to ease trade between them is a step closer to reality.
The African Union agreed last year to create a free trade zone on the continent, the largest since the World Trade Organization was formed.
On Tuesday, Gambia became the 22nd country to ratify the accord, reaching the threshold for it to be implemented.
It’s hoped the deal will reduce tariffs and trade rules, and create jobs for a market of 1.2 billion people.
But Africa’s largest economy, Nigeria, isn’t on board with the agreement.
So will the deal succeed?
Presenter: Martine Dennis
Guests:
Aly-Khan Satchu – CEO of Rich Management and an emerging markets economist
Stephen Yeboah – Co-Founder of Commodity Monitor
Olusegun Okubanjo – founder and managing partner of OBSIDIAN, a finance firm focusing on East, West and Central Africa
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nigeria refused?
lower tariffs means increased trade within africa…that will stimulate manufacturing and unlock a lot of sleeping potential within ourselves…there are cases where an african country is buying from europe what it can essentially buy from another african country…we need to motivate more intra continental trade…the nigerian president has been fed something by the imperialist masters
No there are several components on the continent that need to be placed in order and although the African Union seems to be the most likely organization to carry out such a agreement the Union in and of itself is not strong enough to offset the backlash
When Africa let’s go of the World’s Bank the World Health Organization the UN UNICEF and all of those so-called Aid charitable places when Africa does that then Africa might have a chance but as long as Africa is still taking dictation from these Global organizations Africa will continue to be just what Africa has always been a doormat for the foreign governments
What do you mean produced jobs how can you dump a thousand I’m sorry a million Chinese in Africa with jobs and you got a million Africans that need jobs it’s not that Africa doesn’t have jobs is that Africa is not training it’s people to do the jobs that they need to be done why would Kenya not send a few hundred Kenyans to China to learn how to build the infrastructure come back to Africa train a million people how to build everything that those Chinese built I mean Africans don’t think outside the box there are a million Chinese that don’t belong in Africa right now taking up work and competing against the local farming the local businesses that’s not what African needs but Africa leaders continue to do the same dumb things and expect change if you continue to be the doormat if you continue to play the role of the Patsy then you can expect the global respect for your intelligence or your continent like nobody would allow such agreements to take place on their own soil like Africans allowed and I’m not just talking about Kenya I’m talking about Nigeria the Congo South Africa is almost gone totally with all these rich white people and the poor black people keep getting pulled that is something that’s a ship that should have been turned around you can’t have the richest continent with the poorest people that is a clear sign that you’re not managing your continent correctly and anybody you don’t need a PhD you don’t need an MA or BS or an AA you don’t even need a high-school diploma to know that what’s going on in Africa is wrong on every level
But we’re tried of talking we need to do something not just only talking
African free trade to facilitate and ease foreign(Non-African) import does not help Africa. Remove inter-state taxation so as to make it cheaper for EU and China or India to penetrate African markets? There should be a distinction between African-produced (Made-In-Africa) and foreign products. Africa should make it unattractive for foreigners to dump low quality radioactive commodities in the African market.
West Indies are us Africans
White man uses white prostitutes who have aids and tribes and bible to distort you
African governments have the capacity to manage this trade agreement, There are 400 millions africans living away from africa helping other nation grow their economy and and many brave and bold africans entrepreneurs need an expansive market. It is high time these additional refocus and release unique africa entrepreneurship skills and activities so we start owning africa and taking responsibilities for our beloved africa, Africans should develop solutions to sustain africa – the growing, adapting and learning population,
This free trade will spur economic growth on the continent and also a faster cultural and political union.
Before even trying anything can we please try to change two things (1) we need to change names of our so called Nation States. (2) we also need to do away with the Boundaries. There is no one legitimate State on this continent yet we are talking as if there is land or border representation. The Good Africans are stuck with the Bad one. Currently every one is living without clean ethnicity and you know if you are not loyal to any nation then it must be affecting your heart contributing to any particular State. The borders are an eyesore they can be changed and who ever is refusing so is evil. I am Somali but I hate being stuck with Kenya or Ethiopia where my ethnic groups and their lands are locked away. This program is denying or is unaware the evil foundations of our continent. It will cost around 5 billion and a million employees to redraw the map. The cost of doing nothing is poverty sabotage malaria endless conflict for a price of 10billion a week. When two or three oxens are tied together to a yoke at the neck do you think even though they have similar problems that they think the same way to get out of the situation. This analogy is about Somalia which fought like Ireland. It tried to break the Yoke that joins it with Ethiopia and Kenya but this attracted the Us and the UK plus the African Union to punish Somalia.The west also stopped supplying one side of the conflict and Somalia was destroyed. Kenya and Ethiopia are the most narcissistic States in Africa . Narcissistic parents set siblings against each other by throwing them off balance all the time. I shall never be loyal to State at the behest of my ethnicity. Fake wars, fake education, fake collective sentiments , fake flags and fake State names. Schools are failing people by wasting time with second hand information. Complete mess created by Illiteracy.
Until France and the West leave us alone this will only be a dream. We don’t have the caliber of leaders to make this unity and trade union a reality. France will destabilize /threaten their Francophone countries to leave it or that president will be killed through a coup d’etat.
Dangote was never against this African Free trade please Olusegun dont misquote him. I believe you are one of those african who hate the idea of unity as you rightly said.
Dangote said 3 things about this: and I quote: 1.Aliko Dangote lamented on how the AfCTA will be implemented. He said the key issue is not about the signatories but implementation by African governments. “My issues is when we signed, what about implementation – which is key and missing. “I think the CFTA will help but we need to make regional markets work very well.”
2. Aliko Dangote said there is a need for more collaboration from other African nations in areas on economic integration and open border.
“This is one of the areas that I always keep discussing with my good friend Vera (Vera Songwe Executive Secretary – Economic Commission on Africa (ECA), focused on the AfCTA).
“I’m sure she’s somewhat and I always tell Vera.. you know please can you make the regional market in Africa to work before we go to AfCTA,” he said.
3. Another issue is the African passport. The passport is not working. The African Union passport is a document set to replace existing nationally-issued passports and exempt bearers from having to obtain any visas for all 55 states in Africa.
He cited an example of how Angola stamped an AU passport because he was allowed free entrance into the country. “The ugly situation was when I was invited by the President of Angola and …. when I went there, I was issued visa on African Union passport.”
“I had to apply for visa, and intentionally, when I applied for the visa, I also applied on the African Union passport and I gave them that too to stamp on it.”
He said if African countries can grant British, America and European citizens visa on arrival why can’t they grant free entrance to African citizens.
Aliko Dangote is all for African Free trade.
The efforts Al Jazeerah makes to throw shade on Africa. It’s almost unbelievable, but if you are aware enough history has the answers for us Africans. I.e. we know who sold us to Europeans. Is there even a normal word for black people in their actually very rich language? (The question is rhetoric. Look it up).
Are you also forgetting who sold us to the Arabs? How naive are you
It’s going to be terribly difficult to get Africa to unite with opposing ideas like this.
France is the course of so much suffering in africa. The so called former French territories in Africa are under French strangulation and can not make any independent decision without consulting France. France must get out of Africa
The problem of Africa is its fragmentation and unforgivable comprador ties to Europe, America, China, and India. Integration, reorganisation and unification under fewer “borders”, intra-African cooperation, technology-sharing, innovation and mobility are some answers
The number reason that perpetuates our conditions as Africans , is THE LACK OF UNITY!! Can’t stand u Bafoon Mfers!!
We in Jamaica need ways to get to Africa from here.
Corruption in Nigeria is too much
RESPCT TO NIGERIA FOR NOT SIGNING THAT …..B.S AGREEMENT>>>>>>>
The expert on the show is in London is not for Africa let him not stand in our door for progress. he is just annoying !!!
Come together. Feed the people. Grow to feed the people specifically.
Limit the involvement of the mega outside corporate world and grow a strong African structure.
First stage.
The foreign capital does not exist in its powerful expression without Africa. Recreate the structure. We must compete as a United Africa.
The fact that the guy in London is a former Vice President of Barclay Bank says it all. I know for a fact that Nigeria’s economy is losing ground every year and is to some degree, one dimensional (everything centers around the oil market). Diverse economies thrive and Nigeria needs to be able to feed itself. Stop depending upon Europe!
Fedralize Africa. That should be the goal. After all Africa has seen what divided economies can offer. Africa needs to unite fast.
Africa trade among yourselves. After 10 years you decide how to upgrade yourself.
Does Africa need to replicate the European model of exploiting natural resources type of economy?
What a rude reporter! cutting people off when they say things that she disagrees with.
Seriously Nigeria!!!!!! Clearly you are blind and not looking at the big picture for Africa as a whole…..smh! Ever heard of unity is strength? Come on people, wake up and stop being individuals but rather T.E.A.M. (Together Each Achieves Move). I am absolutely disappointed.
This Free trade deal is bad for Africa and Africans, and great for the west.
Am a Nigerian. That Nigeria guy is an idiot and his voice will tell you that. Nigeria will like to be involved in it but the wicked, corrupt and naive President Buhari and his cabals don’t want the progress of Nigeria. This is the reason why Nigeria needs to be divided into it’s normal and original parts.
SHAME on you Nigeria for accepting Colonization.
Good job EAST AFRICA(Tanzania, kenya, uganda, ethiopia,Rwanda, Burundi,south sudan…..and our congo brothers and siters.) much love from Kenya
Till infinity, Africa’s hope for greatness would be dead should they make Nigeria the anchor of their dream. Nigeria leading misleaders only care about looting, bribery, corruption and sponsorship of dreadful terrorism against their citizens. Let BIAFRA achieve their sovereignty as a new nation from Nigeria and see Africa fly above the galaxies in a short while.
Wake up Africa…..white people are rich off of all the black countries
Nigeria, they said doing business among themselves. What Nigeria is afraid of ? Does it préfère doing business with his former slaves masters instead stretching hands to there own ppls on same continent ? Anyway leave Nigeria alone. Who care ?
Afrika Trade is about pragmatism to to crush that cercle of poverty. Money in pocket for everyone not only for the riches Nd corrupted ppls.
Well Dankote rejected the project b’cos his turnover is going to be refused due to new segments of the markets in his field emerging that would reduce his turnover.
Of course, Afrika time to feed yrself.
Free trad & eco currency is not going to benefit Nigerian right now cause 70% of revenue is on oil, it is more better for them to stay developing other sectors to some extend before coming in, otherwise other country will take avantage of the Nigeria population to sale to Nigeria while ame Nigeria can not exports because they don’t have anything to export.
We need to stop dividing each other our ancestors are the ones calling us back I’m trying to connect this with family 400 or 500 years ago we were taken away from our ancestors on the other side of the ocean the colonist wanted us to forget ancestors
The brothers and sister they were only in the United States in South America before the colonists or chased out of Africa through the hatred and bigotry of the Roman Empire
He is a sell out
When you hear a neoliberal say things like “exploiting opportunities” and “human resources” you know he’s about to enslave you.
No individual interest is considered in this trade deal even when the corrupt government refuses to join the population will stand for it because is the population’s who the are victims of poverty and unemployment not the government.
We will succeed
Once Africa is free of the entanglements with their former colonizers and neo-colonizers, real economic progress can be made
Olishengu or whatever we dont need your bogus and pessimistic and doubting thomas idea…keep it to yourself…we just need the unity Period. Stay in London and never come back…u staying there talking BS…they did what was necessary to make it country attractive for you to stay there…BS
We must get out those African leaders who has no Good intentions for the people but only fulfilling the wishes of our colonizer.
We need real investment not toying around no offshore investment banking..time now for Africa and Africans home and abroad..Africans first…
The AFCTA initiative basically is a great idea to take Africa to the next level. But curiously, it seems most advocates are fixated with it’s purported gains without addressing the few ills inherent in such novel idea as regards individual country, which could render the total anticipated gains a mirage in the long-run. The stands of Nigeria in relation to other ‘signees’ could just be a case of two individuals defining numbers ‘6 & 9’. You need to put your house in order before inviting a guest to a feast.
The stronger African economies should help the weaker ones.
Thank you Great GAMBIA for making history and freedom happen. Olusegun, you need to go back and study and think: whatever Nigeria is doing at the moment is not working!unemployment is enormous!
SPEAKER FROM NAIROBI IS TRUE ECONOMIST. FREE TRADE WILL BE MORE OPPORTUNITIES.
Know it will not succeed because Africa isn’t a world power how can it succeed. Africa must become a military force in on a world scale designing their own weapons without the help of Arabs, Asians or any Caucasians or the United States. That’s the only way Africa can succeed is when Africans as a whole land becomes Africa one nation under the Universe until then success is just a word…
Very interesting have yo say I go with the decision of the 22 African countries
why do need those three countries??
Only 1 West African French speaking country signed the agreement: Burkina.
This is pathetic. The French have a grip on them.
Let’s change the structures of the African economy
This Nigeria guy is bought by the white because as a Nigeria I like this deal because I am trying to start agriculture and now I will be able to transport my goods
The Free Trade nations should be exclusively between Afrikan nations at the begining before opening to nations outside of Afrika. It would be to the detriment of the Afrikan Union project.
Kenyans need not make business with American who has never been justly with black people.
Africa the baby American the old man who time is over as a power player in the world
It is a good move for Africa countries to take. This free trade is another way for us to get to know each other as well.
A moment of Great Awakening in Africa… History in the making having a more liberal African Market for African Nations
Keep up the development in Africa and become one.enough of spoon feeding now let them go away..
Forward
Why are you comparing the price between Europe and Ghana? Dude: why don’t you compare the price between African countries. I think Ghana is bought and paid for.. why would you compare Ghana and Europe. If Ghana failed it doesn’t mean other countries did. Western countries use Ghana for everything because they can control it. Africans open your eyes. Don’t be deceived by these former colonizers who want to use their old leverage to recolonize you. Realize your value. They can’t exist without us. They will be poorest and needy if African countries follow the suit
I expected Nigeria 🇳🇬 spearing this idea instead of staying sluggish, African countries combined economy can create the most richest bank in the 🌎 world, where each country can borrow twice of the input for economic projects
Procrastination in this noble idea will not help us, immediate action is required.
Greatest news of the century for the African continent. Compliment the free trade agreement and improve and advance it. Be vigilant, the struggle continues.
Olesegun is right on point!
For those reading this today…. Am happy to answer the question… Yeess it has succeeded
All colonisers such USA and France need to leave the continent. we don’t require their services anymore. they have overstayed their welcome.
AFRICA!
dangote is a peron who enjoys dominance, he is fearful of a competitive african market. We cannot use egotistic peronalities as the canon to measure the effectiveness of this treaty…. This will create a competive market and foster critical market changes and infrastructure.
I agree with the Brother located in London.
Olusegun Obasanjo is on point
Africa countries need to clean up their ‘government ‘ first. France and USA or UK should stand aside -will be called upon during business ( trade )
Aid will be considered later on even investment.
The wise argument came from Steve in Abidjan
Africa is fighting the system.
Africa is advancing.We are waiting on one currency and one language (Swahili).
I found the journalist to be very condescending in her manner but congratulations most of Afrika for stepping out of the comfort zone imposed by imperialism and colonialism. As always Nigeria is up it’s own backside and they really need to be on board bc their people are suffering with over population and no employment
Yes it will succeed
You have to understand that peace is very important for the whole of Africa. When there is peace, the economy rises even more than the whole planet appreciates Africa and then it comes and invests in Africa. You have to understand how much peace there is. to understand that peace is very important for the whole of Africa more than that each person must understand that peace must be and more than that education for children must be ensured The more peace there is, the more Africa will rise and the more much of that Africa’s economy is growing very fast
God bless them all that signed the Free Trade agreement! Never let fear hold you back, this is how the British, France and other countries keeps Africa hostage. Nigeria needs to learn unity and togetherness like the China nd Indian .
I think every African country should joint look what the implementation of the west it’s still colonizing African in trade, look at the cocoa in Ghana what percent do day get, that y the now president is talking on end of export to swizland, joint we need brotherhood what to loose, let ur ancestors see what they offspring are capable of, peace to israel
I think, that Africa (and Asia):
Needs to Unify/Unite (all).
_M.K.S.
True competition will grow amongst african countries but as long as infustructor continues in terms of agriculture will allow for countries to grow there food storage. Down the line tht wil allow for more technological advancements since more people will b allowed time to spend less time getting food
Aly Khan is right.
Protectionism of the African economy is not the solution.
Take into account the retail industry in Kenya: there are 3 major players according to their market share: 2 Kenyan companies and 1 foreign company (which also hires local people).
I just think that Nigeria should stop its protectionism agenda.
Very good for Africa. We have United states of America with free movement of it’s people Why not from state to state. Now its United states of Africa. This is great. Just watch out for infiltrators who will try to undermine this effort. Watch out !!
This must succeed
‘Will Africa’s historic Free Trade Agreement succeed?’
The agreement, unlike the disagreement, supposes a consent by reason, thus, the agreement emits the requirement to translate into practical realities, the prescriptions of the assent, that is why, to agree, it is to oblige. From this perspective, if this free trade agreement informs decisions, choices, it will be a success. From this perspective, only a retrospective judgement will make it possible to judge the historical scope of this agreement.
Border, crossing is the problem especially the border between Togo and Ghana including Ivory Coast taking money from the people
They, should warn the western countries, they should not intervene in our affairs, we are tired of them
South Africa still has long way to go the black people are destorying there own stores with riots because zuma has to do jail time which they can t fix there own problems
Smart Nigerians. They must have smelled a rat. Whose hands are really behind the so-called free trade agreement? If Côte d’Ivoire, I really mean Ouattara, is optimistic about the deal, it will indeed be historically beneficial to the country that matters the most in the realm of franco-PHONY: France.
Europe and its corporations always win but we are free to keep dreaming especially if we are serious about uniting the african market. Who knows if an African thinker on the level of XI Jinping will emerge to help Africans revolutionize their thinking and save the continent from predators.
Nigeria! Get on board!. There is no reason why you should not be on board.
Do not fear change especially when it’s a righteous change.
For Africa’s to be able to do business with each other freely without difficulties This agreement is good for all African they hav to open their borders for each other to look the EU we ar one people
nigeria