Representatives from the International Humanity Chamber of Commerce (IHCC) engaged in the recently concluded Africa Prosperity Dialogue 2024 alongside heads of state, diplomats, investors, and business leaders from various regions of Africa and the global community. The IHCC actively contributed to fostering trade and investment opportunities, aiming to facilitate the establishment of a unified market for the overall development of Africa. #IHCC
Humanity Chamber of Commerce International’s Post
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It has become crucial for Africa to strengthen its position in global commerce, by leveraging the unparalleled wealth of natural resources it possesses. The potential to advance as a region has been further deepened by the AfCFTA, making it attractive for investment. #afcfta #africa #ghana #gipc African Continental Free Trade Area (AfCFTA) Secretariat African Union African Export-Import Bank (Afreximbank) Ministry of Foreign Affairs and Regional Integration, Ghana WAIPA World Trade Organization United Nations Economic Commission for Africa UNDP Africa Invest in Africa Sustainable Trade Africa Secretariat of the Organisation of African, Caribbean and Pacific States (OACPS) UNCTAD
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In this article published on the @United States Institute of Peace, Thomas P. Sheehy highlights the importance of America’s 24-year-old African Growth and Opportunity Act (AGOA), a program designed to strengthen #Africa’s economic future and stability and fostering strong relationships with the U.S. Africa stands at a pivotal moment: it has the potential to become a powerhouse of growth and stability or face further challenges and upheaval. The difference will hinge on its access to large-scale investments that promote #democracy, transparency, and #inclusion. AGOA is more than just a #trade agreement; —it's been a catalyst for #EconomicGrowth, job creation, and the promotion of #HumanRights across Africa. As AGOA's future hangs in the balance, with its authorization expiring in September 2025, I echo this call for extending this crucial act that fosters strong partnerships, trade, secures a prosperous and stable future for Africa, and advances U.S. peace and security goals: https://ow.ly/IWXE30sFLNk 🌟🤝
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In this article published on the @United States Institute of Peace, Thomas P. Sheehy highlights the importance of America’s 24-year-old African Growth and Opportunity Act (AGOA), a program designed to strengthen #Africa’s economic future and stability and fostering strong relationships with the U.S. Africa stands at a pivotal moment: it has the potential to become a powerhouse of growth and stability or face further challenges and upheaval. The difference will hinge on its access to large-scale investments that promote #democracy, transparency, and #inclusion. AGOA is more than just a #trade agreement; —it's been a catalyst for #EconomicGrowth, job creation, and the promotion of #HumanRights across Africa. As AGOA's future hangs in the balance, with its authorization expiring in September 2025, I echo this call for extending this crucial act that fosters strong partnerships, trade, secures a prosperous and stable future for Africa, and advances U.S. peace and security goals: https://ow.ly/JJpB30sFLyO 🌟🤝
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The African Continental Free Trade Area (AfCFTA) and Its Potential to Drive Economic Growth in South Africa The African Continental Free Trade Area (AfCFTA) stands as a landmark initiative aimed at fostering economic integration across the African continent. Envisioned to create a single market for goods and services, AfCFTA has the potential to significantly impact South Africa’s economic landscape. This essay explores the ways in which the implementation of the AfCFTA can lead to economic growth in South Africa. view full article here; https://lnkd.in/diZGz9Xx
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📊 Despite the implementation of AfCTA, Africa represents under 3% of global trade 📰 A recent report from the United Nations Economic Commission for Africa (ECA) highlighted the persistent challenges in boosting Africa’s share in global trade, which despite the implementation of African Continental Free Trade Area (AfCFTA) Secretariat, still remains under 3%. 🌍 The findings indicate a preference for trading with nations outside the continent, overshadowing intra-African trade activities. Despite the ongoing efforts to foster regional integration, progress has been gradual, as outlined in the ECA’s assessment of regional integration in Africa. 🗣️ Stephen Karingi, ECA Director for Regional Integration and Trade Division, pointed out that unconstitutional governmental changes, unemployment, and poverty are significant hurdles for the continent. 📖 Read the news with the link in the comments! #globaltrade #Africa #ECA #AfCTA
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Stephen Karingi, ECA Director, Regional Integration and Trade Division presented a report to experts ahead of the 4-5 March ministerial segment of the Conference of Ministers of Finance, Planning and Economic Development (COM2024) showing how Africa’s regional integration agenda is progressing, albeit slowly. Furthermore, despite progress in monetary and financial integration, member states have not met the macroeconomic convergence criteria. In addition, infrastructure development through the Programme for Infrastructure Development in Africa achieved mixed results. While roads and ICT advanced, rail transport and energy infrastructure progressed little. Infrastructure financing remains a challenge. The report indicates that there has been some progress in the fulfilment of the first 10-year implementation plan (2014–2023) of Agenda 2063: The Africa We Want, of the African Union, including the adoption of the Agreement Establishing the African Continental Free Trade Area and the creation of the Single African Air Transport Market. https://lnkd.in/e6auarJf
📊 Despite the implementation of AfCTA, Africa represents under 3% of global trade 📰 A recent report from the United Nations Economic Commission for Africa (ECA) highlighted the persistent challenges in boosting Africa’s share in global trade, which despite the implementation of African Continental Free Trade Area (AfCFTA) Secretariat, still remains under 3%. 🌍 The findings indicate a preference for trading with nations outside the continent, overshadowing intra-African trade activities. Despite the ongoing efforts to foster regional integration, progress has been gradual, as outlined in the ECA’s assessment of regional integration in Africa. 🗣️ Stephen Karingi, ECA Director for Regional Integration and Trade Division, pointed out that unconstitutional governmental changes, unemployment, and poverty are significant hurdles for the continent. 📖 Read the news with the link in the comments! #globaltrade #Africa #ECA #AfCTA
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The 2nd edition of the Africa Prosperity Dialogues (APD) proposed, among others, actionable policies to African leaders to ensure that the vision of the Africa Continental Free Trade Area (AfCFTA) agreement is fully achieved. Free movement of people, especially among business people, harmonisation of the regulatory frameworks on the African continent, value addition on goods and services, the financial services sector, digital trade, the different modes of transportation are among some of the areas that the AfCFTA is seeking to advance. We discussed some of those on Asaase Radio/TV media channel https://lnkd.in/dkYGqpB7 African Continental Free Trade Area (AfCFTA) Secretariat, Asaase 99.5
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Founder and CEO: Carrick Group of Companies | Owner: Baines River Camp, Matusadona Safaris, Klein Welmoed Wine Estate | Passionate Advocate for Philanthropy and Environmental Conservation.
Africa is taking steps to wealth. Are you on board? As I am closely observing global market trends, I am excited about the transformative shift underway in Africa, thanks to the African Union's strategic emphasis on enhancing intra-African trade. The recent Intra-African Trade Fair in Cairo was a milestone, showcasing Africa's collective potential in a market of over 1.4 billion people. This gathering of investors, businesses, and government officials highlighted Africa's commitment to not only enhancing trade within the continent but also to its overall economic integration and growth. The AfCFTA, launched in 2021, marks a pivotal moment. It aims to create a unified African market, removing trade barriers and fostering a vibrant, interconnected economic landscape. Despite challenges, the optimism surrounding this initiative is palpable, with the potential to significantly boost intra-continental trade and attract global investments. For investors and businesses, this represents an unprecedented opportunity. The rise in trade, coupled with initiatives to improve infrastructure and governance, opens doors to diverse investment possibilities across industries. This is more than just a trade agreement; it's a signal of Africa's readiness to be a major player on the world stage. The involvement of African leaders in the IATF 2023 and their commitment to the AfCFTA signals a new dawn for Africa's economic independence and global influence. I am optimistic about the myriad investment opportunities this presents, not only in traditional sectors but also in emerging markets across the continent. What do you think? Has Africa’s time finally come? #AfricaRising #IntraAfricanTrade #AfCFTA #InvestInAfrica
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Project Director at ETL Eco Harmony Solutions | Climate Change Analyst | Research Project Instructor | Chemical Engineering Graduate | Data-Based Administrator | Social Media Coordinator | Pan-African Leader
With a population spanning over 1.2 billion people across 55 sovereign countries, Africa has the potential to create $3.4 trillion economic bloc. This is possible through the full implementation of the African Continental Free Trade Agreement (AFCFTA) which is the largest trading bloc by member states after the World Trade Organization (WTO) By bringing policy makers, entrepreneurs, thought leaders, captains of industry and technocrats together at the Africa Future Leadership Conference and Awards 2024, we aim to reimagine an Africa of shared prosperity through intellectual discourse and idea exchange. This gathering no doubt, will birth new ideas, new partnerships and new visions towards the Africa we want. October 5th is date. Save the date #AFLCA #ANewAfrica
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Discussions at the 37th African Union Summit in #addisababa confirm that attracting private investment to and across #Africa is vital for the continent’s sustained and human-centric development. As a unique catalyst of inward #FDI into #Africa as well as an accelerator of intra-African trade, #ATIDI is at the heart of the solution to Africa’s economic emergence. #ATIDI #RethinkingRisk #EnablingFinance
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