POLITICS

Signing of African free trade accord welcomed – Sakeliga

Organisation says some imperfections do, however, remain

Sakeliga welcomes steps towards African free trade area

9 July 2019

Sakeliga welcomes the recent signing of an African free trade accord by the presidents of Nigeria and Benin. The African Union is now expected to launch the operational phase of the African Continental Free Trade Area (AfCFTA) soon.

According to Gerhard van Onselen, senior analyst at Sakeliga, “Steps towards more liberalised markets and reduced trade taxes and restrictions will do much to increase wealth and well-being on the African continent. As with all free trade agreements between states, some imperfections remain. In general, though, the AfCFTA represents a step towards the removal of trade taxes and barriers across Africa.”

Piet le Roux, CEO of Sakeliga, says the organisation will keep a close eye on the development of the agreement. “The AfCFTA is a promising development, because it seeks to boost the economy by removing government restrictions – even if those restrictions shouldn’t have been there in the first place. As long as greater trade freedom remains the essential contribution of the AfCFTA, we welcome it. We look forward to encouraging our members to foster new opportunities for serving people across the African continent with valuable products and services.”

Issued by Piet le Roux, CEO, Sakeliga, 9 July 2019