Public Management

Covid-19 forces the postponement of the single market AfCFTA

Covid-19 forces the postponement of the single market AfCFTA
Wednesday, 29 April 2020 19:01

African countries will have to postpone the implementation of the African Continental Free Trade Area (AfCFTA) due to the current coronavirus pandemic. The announcement was made yesterday April 28 by Wamkele Mene (pictured), the Secretary-General of the Single Market.

While the implementation of the zone was already threatened by certain protectionist tendencies observed on the continent (in Nigeria in particular), the new health crisis should slow down its operationalization. Since the beginning of the pandemic, 52 African countries have reported active cases on their territory, and they took restrictive measures to control its propagation.

“It is not possible to start a trade as we planned on 1 July under the current circumstances,” Mene said in a statement relayed by Reuters.

While the official did not provide any details on the new date for the implementation of the single market, he said that “the political will remains to integrate the African market and implement the agreement as planned. The AfCFTA, which brings together all African countries, aims to create the new largest free trade area with a combined GDP of more than $3.4 trillion and 1.3 billion potential consumers.

For the secretary-general, the implementation of the market could moreover become Africa's main recovery plan once the covid-19 pandemic is over.

As a reminder, according to the latest assessment of the African Union dated 28 April 2020, the disease has affected 33,566 people, causing 1,469 deaths while 10,152 people have recovered.

Moutiou Adjibi Nourou 

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Study finds nearly 80% of respondents in both markets already hold stablecoins Users cite faster, cheaper payments as digital dollars gain traction...
Kenya raised $2.25B via dual-tranche Eurobonds to buy back 2028/2032 debt, luring investors with yields of 8.1% and 8.95% to smooth...
Standard Chartered Zambia raised its capital to 520 million kwachas (about $27.5 million) through a bonus share issue, without raising new...
Cameroon to raise 585 billion CFA on international markets Follows $750 million bond under 1,000 billion CFA target Funds to clear arrears,...
Most Read
01

South Africa led with 35% of total deal value, ahead of Kenya and Egypt Inbound deal value ro...

Three Countries Drove 70% of Africa’s M&A Deal Value in 2025
02

Safran invests €280m to build one of the world's largest landing gear plants in Morocco, crea...

Morocco: Safran Announces $305 Million Investment to Build One of the World's Largest Landing Gear Plants
03

Industrial, jewelry and silverware demand expected to decline in 2026. Physical investment ...

Silver Demand Set to Shrink in 2026, Investment Drives Sixth Deficit
04

This week in Africa, Africa CDC is stepping up its drive for health sovereignty, building new partne...

Weekly Health Update | Africa CDC Advances Health Sovereignty Efforts
05

Global South Utilities (GSU) has begun building a 5 MWp hybrid solar plant with 5 MWh battery st...

Chad: GSU Starts Construction of 5 MWp Hybrid Solar Plant in Amdjarass
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.