Two initiatives have been rolled out to support Ghana’s implementation of the African Continental Free Trade Area (AfCFTA) agreement.
The two initiatives are the African Continental Free Trade Agreement Challenge and the Champions of Trade initiative.
Speaking on The Asaase Breakfast Show on Monday, Leticia Browne, director at Intelligent Capital Group, said that both initiatives will target individuals and organisations with tailor-made solutions that can support Ghana’s implementation of AfCFTA.
For the AfCFTA Challenge, members of the public will call into designated radio stations to answer questions on the African Continental Free Trade Area. Contestants will be required to answer five questions. They stand the chance to win beautiful prizes.
Meanwhile, applications have also opened for the Champions of Trade.
Background of AfCFTA
AfCFTA, the world’s largest free trade area, has the potential to transform the African continent, with its market 1.3 billion people and combined gross domestic product of roughly US$3.4 trillion across the African Union’s 55 member states.
Trading under AfCFTA commenced on 1 January 2021.
AfCFTA aims to create a single market for goods and services, with free movement of business actors and investment, to promote intra-continental trade.
The agreement has so far been signed by 54 African countries (Eritrea is the only exception). Thirty-four countries have deposited their instruments of ratification. The enactment of the agreement makes Africa the largest free trade area in the world.
The AfCFTA agreement was signed in Kigali, Rwanda, on 21 March 2018 and entered into force on 30 May 2019 when 22 countries, the minimum required, deposited their instruments of ratification with the chairman of the African Union.