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
After several delays, the Association of African Petroleum Producers (APPO) has set a new deadline to make the African Energy Bank operational. A summit...
Deal would cut debt, fund Congo Basin forest conservation Talks ongoing with European partners; timeline not yet set After raising $670...
MTN Nigeria, Ericsson test triple-band MIMO, boost 4G speeds Trial shows 3.2x download, 4x upload speed improvement Technology streamlines 4G, readies...
The issuance confirms the renewed attractiveness of Abuja's economy to investors, despite geopolitical tensions and the naira's volatility. This market...
Most Read
01

The Bank expects a 41% rise in 2025 and a further 6% increase in 2026. Gold topped $4,00...

World Bank sees precious metal prices staying high until 2027
02

Tunisia to launch first fully digital hospital as part of health reform. Project includes AI diag...

Tunisia to Build First Fully Digital Hospital in National Health Overhaul
03

Social media users accuse the UAE of backing Sudan’s RSF militia. Activists and celebrities c...

UAE faces backlash over alleged role in Sudan’s gold and arms trade
04

Lukoil to sell all international assets to Gunvor amid U.S. sanctions Sale includes key oil stake...

Lukoil Agrees to Sell International Assets, African Included, to Swiss Commodities Trader Gunvor
05

With COP30 approaching, the International Renewable Energy Agency is calling for a global goal: to q...

With Costs High, IRENA Urges Global Pact to Quadruple Sustainable Fuel Production
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.