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    BREAKING NEWS
    $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa’s established Broadband Coverage by 2030
    Nigeria Launches National Domestic Payments Card Program
    In Guinea-Bissau, ECOWAS Parliament held a 3 Day Seminar on the Adoption of a Single Currency for Member African States
    $30 Billion has been pledged by the African Development Bank and Development Partners to Finance Food and Farming in the Next Five Years
    $7.9 Billion in Exports glid in 2021 from the East African Community (EAC) Bloc to Africa amidst the Novel Corona Virus (COVID -19) Consequence
    President William Ruto of Kenya has Urged fellow African Rulers to address on Agribusiness beyond Production to Value Addition and Manufacturing
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    With an Amalgamated Gross Domestic Product Prized at $3.4 Trillion, it amassed the Penchant to Hoist Thirty Million People out of Exaggerated Poverty World Bank, finds

    Posted On 24 Sep 2020
    By : New Africa Business News, Staff Correspondent
    Comments: 14

    By Abdul Rahman Bangura–

    Photo Credit: YouTube

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– Apparently, the African Continental Free Trade Area (AfCFTA) consensus, will inaugurate the broadest free trade area in the world, assessed by the amount of nations contributing. The World Bank recounted in its report, christened, The African Continental Free Trade Area: Economic and Distributional Effects. The report quotes that, the agreement will unite 1.3 billion people across 55 nations with a composite GDP honored at $3.4 trillion and amasses the probable to thrust thirty million people out of unreasonable poverty by 2035.

    ‘’But achieving its full potential will depend on putting in place significant policy reforms and trade facilitation measures. The scope of the agreement is considerable. It will reduce tariffs among member countries and cover policy areas, such as trade facilitation and services, as well as regulatory measures, such as sanitary standards and technical barriers to trade. It will complement existing sub regional economic communities and trade agreements by offering a continent-wide regulatory framework and by regulating policy areas—such as investment and intellectual property rights protection—that have not been covered in most sub regional agreements,’’ according to the report.

    New Africa Business News
    Africa’s Fastest Growing Global Newspaper. Forward www.newafricabusinessnews.com

    The African Continental Free Trade Area: Economic and Distributional Effects quantifies the long-term significances of the pact for growth, trade, poverty reduction, and employment. Its research gets on beyond that in aforementioned researches that have primarily concentrated on tariff and nontariff drawbacks in goods—by encompassing the consequences of services and trade facilitation criteria, as well as the distributional impacts on poverty, employment, and wages of female and male workers. It is designed to guide policy makers as they develop and execute the comprehensive spectrum of reforms desired to discern the considerable dividends that the consensus proposes.

    Nonetheless, the research exhibits that, full enactment of the AfCFTA could heighten income by 7%, or approximately $450 billion, in 2014 fees and market exchange tariffs. In this regard, the agreement would furthermore, reasonably expand the African trade— particularly intraregional trade in manufacturing. In upswing, it would boost employment chances and earnings for unskilled workers and assist close the wage gap between men and women.

     

    Invest in Modern Africa
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    New Africa Business News Person of the year 2020
    Start Voting for New Africa Business News Person of the year 2020. Nomination Starts July 04 & Ends December 15/ 2020. Please Submit your Nominee’s Name, Country, Brief Reason for the Nomination. Please Limit Submission to 50 words and One Submission per Person. Email all Nomination to info@newafricabusinessnews.com. New Africa Business News Person of the year will be Announced January 01/ 2021. New Africa Business News. Africa’s Most Read and Fastest Growing Global Newspaper.  www.newafricabusinessnews.com 

     

    AFRICAN CONTINENTAL FREE TRADE AREA (AfCFTA)
    Accelerating Intra-African Trade and Boosting Africa’s Trading Position in the Global Market by Strengthening Africa’s Common Voice and Policy Space in Global Trade Negotiations. For More Information Contact: African Union Headquarters, P.O. Box 3243, Roosvelt Street W21K19, Addis Ababa  Ethiopia, Tel: +251 11 551 77 00  Fax: +251 11 551 78 44.

     

    Africa President of the year 2020
    Start Voting for Africa President of the year 2020. Nomination Starts February 01 & Ends December 15/ 2020. Please Submit your Nominee’s Name, Country, Brief Reason for the Nomination. Please Limit Submission to 50 words and One Submission per Person. Email all Nomination to info@newafricabusinessnews.com. Africa President of the year will be Announced January 01/ 2021. New Africa Business News. Africa’s Most Read and Fastest Growing Global Newspaper.  www.newafricabusinessnews.com 

     

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    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

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    About the Author
    New Africa Business News Staff Correspondent
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    14 Comments

    1. Randy September 24, 2020 at 1:29 am Reply

      Thank you for the newsletter. Gaborone Botswana. Randy

      • New Africa Business News, Staff Correspondent September 24, 2020 at 1:30 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Victoria September 24, 2020 at 1:57 am Reply

      The best business opportunities in the Continent, that going to happen for our people with the African Continental Free Trade Area, also known as Africans doing business with each other without business obstacles. Make Afrika great. Victoria

      • New Africa Business News, Staff Correspondent September 24, 2020 at 1:58 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Opiyo September 24, 2020 at 2:06 am Reply

      Thank you, Abdul Rahman and your team for the report. Nairobi Kenya. Opiyo

      • New Africa Business News, Staff Correspondent September 24, 2020 at 2:07 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Pamela September 24, 2020 at 2:15 am Reply

      As we Africans believed to ourselves, the sky is the limit. Thank you new Africa news for the news. Pamela in Douala, Cameroon

      • New Africa Business News, Staff Correspondent September 24, 2020 at 2:16 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. Sally September 24, 2020 at 2:36 am Reply

      Business owner. Proud African and happy doing business in Africa. Needless to say, I hired many of our People. And the profit of my business is staying in our great Continent. This free trade will let me do business in multiple Countries in our Continent. Dodoma Tanzania. Sally

      • New Africa Business News, Staff Correspondent September 24, 2020 at 2:38 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    6. Bobo September 24, 2020 at 2:44 am Reply

      Trading freely within the Continent, believe me is priceless. Love our great Continent. Accra Ghana. Bobo

      • New Africa Business News, Staff Correspondent September 24, 2020 at 2:46 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    7. Bob September 24, 2020 at 3:13 am Reply

      Thank you for the Facebook reports. Regular reader of your online newspaper. As we Africans say the development of Africa comes from the People and within the Continent. As we all know, they are not here to develop our Continent, instead they are here to Lott, exploit and rub us all. Johannesburg in South Africa. Bob

      • New Africa Business News, Staff Correspondent September 24, 2020 at 3:15 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

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