Commonwealth Business Communications
  • HOME
  • ABOUT
  • COUNTRIES
    • AFRICA
      • BOTSWANA
      • CAMEROON
      • GAMBIA
      • GHANA
      • KENYA
      • KINGDOM OF eSWATINI
      • LESOTHO
      • MALAWI
      • MAURITIUS
      • MOZAMBIQUE
      • NAMIBIA
      • NIGERIA
      • RWANDA
      • SEYCHELLES
      • SIERRA LEONE
      • SOUTH AFRICA
      • TANZANIA
      • UGANDA
      • ZAMBIA
    • ASIA
      • BANGLADESH
      • BRUNEI DARUSSALAM
      • INDIA
      • MALAYSIA
      • MALDIVES
      • PAKISTAN
      • SINGAPORE
      • SRI LANKA
    • CARIBBEAN AND AMERICAS
      • ANTIGUA AND BARBUDA
      • BAHAMAS
      • BARBADOS
      • BELIZE
      • CANADA
      • DOMINICA
      • GRENADA
      • GUYANA
      • JAMAICA
      • SAINT LUCIA
      • ST KITTS AND NEVIS
      • ST VINCENT AND THE GRENADINES
      • TRINIDAD AND TOBAGO
    • EUROPE
      • CYPRUS
      • MALTA
      • UNITED KINGDOM
    • PACIFIC
      • AUSTRALIA
      • FIJI
      • KIRIBATI
      • NAURU
      • NEW ZEALAND
      • PAPUA NEW GUINEA
      • SAMOA
      • SOLOMON-ISLANDS
      • TONGA
      • TUVALU
      • VANUATU
  • AREAS OF WORK
    • GOVERNMENT
    • EDUCATION
    • HEALTH
    • ICT
    • INFRASTRUCTURE DEVELOPMENT
    • NATURAL RESOURCES
    • SUSTAINABLE DEVELOPMENT GOALS
    • TRADE AND INVESTMENT
  • OUR PUBLICATIONS
    • CHOGM
      • COMMONWEALTH HEADS OF GOVERNMENT INTERIM REPORT 2020
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2018 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2015 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2011 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2009 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2007 REPORT
    • EDUCATION
      • COMMONWEALTH EDUCATION REPORT 2019
    • HEALTH
      • COMMONWEALTH HEALTH REPORT 2020
    • MINISTERS
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2017
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2015
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2014
      • COMMONWEALTH FINANCE MINISTERS REPORT 2012
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2011
    • TRADE AND INVESTMENT
      • AFRICA INFRASTRUCTURE INVESTMENT REPORT 2013
    • QUEEN AND COMMONWEALTH
      • QUEEN & COMMONWEALTH: 90 GLORIOUS YEARS
      • QUEEN & COMMONWEALTH: CELEBRATING HER MAJESTY’S DIAMOND JUBILEE
  • CONTRIBUTORS
  • THOUGHT LEADERSHIP
  • CONTACT US
Commonwealth Business Communications
Commonwealth Business Communications
  • HOME
  • ABOUT
  • COUNTRIES
    • AFRICA
      • BOTSWANA
      • CAMEROON
      • GAMBIA
      • GHANA
      • KENYA
      • KINGDOM OF eSWATINI
      • LESOTHO
      • MALAWI
      • MAURITIUS
      • MOZAMBIQUE
      • NAMIBIA
      • NIGERIA
      • RWANDA
      • SEYCHELLES
      • SIERRA LEONE
      • SOUTH AFRICA
      • TANZANIA
      • UGANDA
      • ZAMBIA
    • ASIA
      • BANGLADESH
      • BRUNEI DARUSSALAM
      • INDIA
      • MALAYSIA
      • MALDIVES
      • PAKISTAN
      • SINGAPORE
      • SRI LANKA
    • CARIBBEAN AND AMERICAS
      • ANTIGUA AND BARBUDA
      • BAHAMAS
      • BARBADOS
      • BELIZE
      • CANADA
      • DOMINICA
      • GRENADA
      • GUYANA
      • JAMAICA
      • SAINT LUCIA
      • ST KITTS AND NEVIS
      • ST VINCENT AND THE GRENADINES
      • TRINIDAD AND TOBAGO
    • EUROPE
      • CYPRUS
      • MALTA
      • UNITED KINGDOM
    • PACIFIC
      • AUSTRALIA
      • FIJI
      • KIRIBATI
      • NAURU
      • NEW ZEALAND
      • PAPUA NEW GUINEA
      • SAMOA
      • SOLOMON-ISLANDS
      • TONGA
      • TUVALU
      • VANUATU
  • AREAS OF WORK
    • GOVERNMENT
    • EDUCATION
    • HEALTH
    • ICT
    • INFRASTRUCTURE DEVELOPMENT
    • NATURAL RESOURCES
    • SUSTAINABLE DEVELOPMENT GOALS
    • TRADE AND INVESTMENT
  • OUR PUBLICATIONS
    • CHOGM
      • COMMONWEALTH HEADS OF GOVERNMENT INTERIM REPORT 2020
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2018 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2015 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2011 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2009 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2007 REPORT
    • EDUCATION
      • COMMONWEALTH EDUCATION REPORT 2019
    • HEALTH
      • COMMONWEALTH HEALTH REPORT 2020
    • MINISTERS
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2017
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2015
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2014
      • COMMONWEALTH FINANCE MINISTERS REPORT 2012
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2011
    • TRADE AND INVESTMENT
      • AFRICA INFRASTRUCTURE INVESTMENT REPORT 2013
    • QUEEN AND COMMONWEALTH
      • QUEEN & COMMONWEALTH: 90 GLORIOUS YEARS
      • QUEEN & COMMONWEALTH: CELEBRATING HER MAJESTY’S DIAMOND JUBILEE
  • CONTRIBUTORS
  • THOUGHT LEADERSHIP
  • CONTACT US

ECONOMIC COMMISSION FOR AFRICA LAUNCHES E-COMMERCE PLATFORM TO SUPPORT AfCFTA TRANSACTIONS

  • CBC News Team
Total
0
Shares
0
0
0

The Economic Commission for Africa has presented an online trading platform, that will facilitate trading between buyers and suppliers when the African Continental Free Trade Area (AfCFTA) agreement starts next year.

Known as the African Trade Exchange (ATEX), the business-to-business e-commerce platform will not only improve cross-border trade but also provide businesses with quality products from verified African suppliers in an efficient way at reduced average trading costs based on AfCFTA rules.

The goal for its creation was to provide a marketplace for buyers and suppliers to be able to transact and buy good quality products from the continent based on the AfCFTA rules, said Almoustapha Cisse, ECA’s Acting Director, Division of Technology, Innovation, Publication and Knowledge Management, who made the presentation.

He said the Afreximbank, with whom it is collaborating to deliver the project, would serve as broker for most of the payment systems and the logistics which currently posed “a great challenge” to the continent.

ECA’s Director of Regional Integration and Trade Division, Stephen Karingi, speaking on the importance of the electronic mode, described how many African small businesses went digital during the COVID-19 pandemic when supply chains were broken and they needed to identify new ones.

“One of the things we’ve seen during this COVID-19 is the importance of having credible supply chains,” and you can’t have credible supply chains unless businesses are working together, he said, adding, “ATEX promises a platform that can help anchor AfCFTA” which commences trading on 1st January 2021.

For Vitalis Uzor, representative of the Afreximbank, “Payments are critical to international trade.” According to him, ATEX would develop an ecosystem of banks on the continent to support the traditional payment mechanisms for transactions completed on the platform.

In his own remarks, Francis Mangeni, Head of Trade Promotions and Programmes at the AfCFTA Secretariat, expressed confidence that with the successful operation of integrated payment systems in the Southern African Development Community (SADC) and Common Market for Eastern and Southern Africa (COMESA), it would equally deliver an efficient and profitable platform for the continent.

Also speaking, Ngone Diop, the Director of ECA’s West Africa Sub-Regional office, said the platform had the potential for delivering an inclusive and shared prosperity that promises to leave no African behind.

The AfCFTA provides the opportunity for Africa to create the world’s largest free trade area, with the potential to unite more than 1.2 billion people, in a $2.5 trillion economic bloc and usher in a new era of development. The AfCFTA has the potential to generate a range of benefits through supporting trade creation, structural transformation, productive employment and poverty reduction.

Learn More: Economic Commission for Africa

Image by rupixen.com on Unsplash

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
Related Topics
  • AFRICAN TRADE
  • AfCFTA
CBC News Team

Previous Article

AFRICA’S SUCCESS IN MOBILISING ITS YOUTH WILL DELIVER AfCFTA PROMISE

  • CBC News Team
Read More
Next Article

AFRICANS “KNOW AND UNDERSTAND WHAT DEVELOPMENT OUGHT TO LOOK LIKE,” SAYS PRESIDENT UHURU KENYATTA

  • CBC News Team
Read More
You May Also Like
African schoolgirl writing on blackboard - RELEASE OF ABDUCTED SCHOOLGIRLS IN NIGERIA
Read More
  • NIGERIA

STATEMENT FROM UNICEF NIGERIA REPRESENTATIVE PETER HAWKINS ON THE RELEASE OF ABDUCTED SCHOOLGIRLS IN NIGERIA

  • CBC News Team
  • 3 March 2021
Rwanda Giants Club - Family of Silverback Gorillas in Volcanoes National Park, Rwanda sit amongst the trees.
Read More
  • SUSTAINABLE DEVELOPMENT GOALS
  • RWANDA

RWANDA PRESIDENT PAUL KAGAME JOINS GIANTS CLUB TO BOOST INVESTMENT IN WILDLIFE ECONOMY

  • CBC News Team
  • 2 March 2021
Electric Mobility in Kenya - Boda Boda, a motorcycle taxi, waiting for customers in a park.
Read More
  • AFRICA
  • KENYA
  • SUSTAINABLE DEVELOPMENT GOALS

E-BODA-BODAS: A PROMISING DAY FOR ELECTRIC TRANSPORTATION IN EAST AFRICA

  • CBC News Team
  • 2 March 2021
Africa Regional Review - An African girl sitting outside her house in a torn yellow vest.
Read More
  • AFRICA
  • HEALTH
  • SUSTAINABLE DEVELOPMENT GOALS

AFRICA’S MOST VULNERABLE NATIONS CALL ON INTERNATIONAL COMMUNITY FOR GREATER SUPPORT

  • CBC News Team
  • 1 March 2021
Buildings on the Ebene Cybercity business campus close to Port Louis in Mauritius where the FSC Mauritius building is.
Read More
  • TRADE AND INVESTMENT
  • MAURITIUS

FSC MAURITIUS ADMITTED INTO THE MONITORING GROUP STEERING COMMITTEE OF IOSCO

  • CBC News Team
  • 1 March 2021
Read More
  • EDUCATION
  • MOZAMBIQUE

MOZAMBIQUE LAUNCHES NEW TEN-YEAR EDUCATION PLAN

  • CBC News Team
  • 28 February 2021
Read More
  • AFRICA
  • SUSTAINABLE DEVELOPMENT GOALS

GENDER EQUALITY IS ‘A MUST FOR OUR YOUNG GIRLS’

  • CBC News Team
  • 27 February 2021
Environment assembly meeting - The wind field of the mountain ridge. High angle aerial photography.
Read More
  • AFRICA
  • ASIA
  • CARIBBEAN AND AMERICAS
  • EUROPE
  • PACIFIC
  • SUSTAINABLE DEVELOPMENT GOALS

UN ENVIRONMENT ASSEMBLY | AN URGENT CALL FOR ACTION TO SOLVE PLANETARY EMERGENCIES

  • CBC News Team
  • 26 February 2021
OUR LATEST PUBLICATION

Subscribe to our Newsletter

PARTNER FOCUS
Recent Posts
  • African schoolgirl writing on blackboard - RELEASE OF ABDUCTED SCHOOLGIRLS IN NIGERIA
    STATEMENT FROM UNICEF NIGERIA REPRESENTATIVE PETER HAWKINS ON THE RELEASE OF ABDUCTED SCHOOLGIRLS IN NIGERIA
  • Rwanda Giants Club - Family of Silverback Gorillas in Volcanoes National Park, Rwanda sit amongst the trees.
    RWANDA PRESIDENT PAUL KAGAME JOINS GIANTS CLUB TO BOOST INVESTMENT IN WILDLIFE ECONOMY
  • Electric Mobility in Kenya - Boda Boda, a motorcycle taxi, waiting for customers in a park.
    E-BODA-BODAS: A PROMISING DAY FOR ELECTRIC TRANSPORTATION IN EAST AFRICA
  • Africa Regional Review - An African girl sitting outside her house in a torn yellow vest.
    AFRICA’S MOST VULNERABLE NATIONS CALL ON INTERNATIONAL COMMUNITY FOR GREATER SUPPORT

Subscribe

Subscribe now to our newsletter

Commonwealth Business Communications
  • HOME
  • About
  • Contact
  • Terms of Use
  • Privacy Policy
  • Cookie Policy
© 2021 Commonwealth Business Communications Limited. All Rights Reserved.

Input your search keywords and press Enter.