twitter Facebook Linkedin acp Contact Us

New tool enables African businesses to find continent-wide trade opportunities as AfCFTA begins in 2021

The African Trade Observatory is particularly valuable for empowering economic operators during the COVID-19 pandemic. (Image source: Alexander Kliem/Pixabay)

A new trade intelligence tool that allows firms to easily explore and compare trade opportunities across Africa has been launched ahead of the start of trade under the new African Continental Free Trade Area (AfCFTA)

The African Trade Observatory was launched by the African Union (AU), the European Union (EU) Commission and the International Trade Centre (ITC) at the AU summit on 5 December 2020. “Trade information is vital to the promotion of trade in Africa,” said AU Commissioner for Trade and Industry HE Amb. Albert Muchanga.

The AfCFTA reduces trade barriers and promotes regional economic integration. Continental trade is scheduled to begin on 1 January 2021. ‘Economic Integration is close to the heart of the European Union and will continue to support the African Union towards its endeavour of the African Common Market,’ added European Union Commissioner for International Partnerships HE Jutta Uripilainen.

The African Trade Observatory is particularly valuable for empowering economic operators during the COVID-19 pandemic, said ITC Executive Director Pamela Coke-Hamilton. “‘Today, we are putting an entire continent of trade intelligence at the fingertips of African entrepreneurs, especially to support small local firms, women and young people in making the most of new opportunities.”

The beta version of the web platform, currently available in French and English, was published during the 13th Extraordinary Session of the Assembly of Heads of State and Government on the AfCFTA. The Arabic and Portuguese versions will be available in the near future.

After the release of two publicly available modules (Compare and Explore), policymakers and regional economic communities will have access to a third Monitor module. This module will provide a range of real-time indicators on trade flows, the use of AfCFTA tariff preferences, tax revenues, clearance time and trade simulations, thereby facilitating the evaluation of the implementation process and impact of AfCFTA.

The Bell team in Richards Bay consists of more than 800 machinists, welders, and assemblers. (Image source: Bell)

GFE Power Product’s extensive range covers generators from 10 kVA up to 3,000 kVA. (Image source: GFE Power Products)

The funding is the largest-ever equity raise in the minigrid industry according to Husk. (Image source: Adobe Stock)

The initiative will help African contractors participate in annual infrastructure investments. (Image source: Afreximbank)

ITS has evolved into a sophisticated systems approach, providing numerous opportunities to revolutionise road networks. (Image source: Adobe Stock)

Invest International’s Lara Muller; Ivory Coast Minister of Finance and Economy, Adam Coulibaly; and Ambassador Designate to Ivory Coast, Jeroen Kelderhuis. (Image source: Invest International)

The Yellow Metal Machine Rental team with some Wacker Neuson equipment. (Image source: Wacker Neuson)

Although displaying resilience, the report warns that African banks remain exposed to physical climate risks due to both sovereign and industry lending. (Image source: Adobe Stock)

WAA and VCMI will seek to establish regulatory frameworks to enable access to high integrity and fair voluntary carbon markets for WAA member countries. (Image source: Adobe Stock)

The parties will also promote the mutual exchange of information and expertise in the field of export credit policies and practices. (Image source: TBD Group)

Inside Condra’s Johannesburg factory: an overhead crane positions an electric motor during assembly of hoist and crab. (Image source: Condra)

IVECO is renewing its entire product range, all at once. (Image source: IVECO)

The MoU was signed alongside the Africa Health Business Symposium. (Image source: Africa CDC)

Both the IMF and EIU expect SSA to rank as the world’s second fastest growing economy in 2024. (Image source: Adobe Stock)

There has been a focus on the sugar industry. (Image source: Adobe Stock)

Evolving concept of energy security must address energy demand, system flexibility, technology access and infrastructure development, says IRENA. (Image source: IRENA)

World Bank & African Development Bank partner to provide electricity access to 300 million Africans by 2030, leveraging public-private investments. (Image source: Adobe Stock)

At WFES, Gotion High-tech will showcase its latest products and leading green energy solutions at its booth. (Image source: Gotion High-tech)

The new Perkins 5012 is a full-authority electronic engine optimised and purpose-built for power generation applications. (Image source: Perkins)

SSAB will begin deliveries of the new products in 2026.

The key issues restricting sub-Saharan Africa’s manufacturing sector will be unpacked at Manufacturing Indaba later this year. (Image source: Adobe Stock)

Hyphen is developing sub-Saharan Africa’s largest, most advanced and only fully-vertical integrated green hydrogen project. (Image source: Hyphen)

According to Liebherr, the Used Equipment Marketplace is extremely user-friendly. (Image source: Liebherr)

Electricity storage will be pivotal in unlocking renewable projects and meeting energy demand. (Image source: Adobe Stock)

Africa Data Centres and DPA SA have broken ground on their solar farm in the Free State. (Image source: Africa Data Centres)

A Cat PM310 Cold Planer in action. (Image source: Caterpillar)

A larger stockholding of WEG products facilitates ready access for customers. (Image source: WEG Africa)

African nations have turned to the concept of power pools to address the continent's energy deficit and foster regional cooperation. (Image source: Synergy Consulting)

Dietmar Siersdorfer is expanding his role as Middle East managing director at Siemens Energy to include Africa. (Image source: Siemens Energy)

The Msikaba Bridge has anchor blocks 17 m wide which contain around 21,000 tons of concrete. (Image source: Sanral)