Every single country in Africa, except Eritrea, is now part of the African Continental Free Trade Area (AfCFTA).
Upon implementation, it will be the largest free trade area in the world.
The African Union estimates that AfCFTA will increase trade among African countries by 60% in the next three years.
Only 16% of international trade happens between African economies.
AfCFTA ran into difficulties in 2018 when Nigeria – Africa’s largest economy - pulled out just before signing the agreement.
With Nigeria now onboard, intra-African trade is set to skyrocket.
Free trade agreements are meant to cut or abolish tariffs between member economies.
Robinson said logistics and transportation would be integral to the success of AfCFTA.
Africa needs a “corridor” and a significant focus on building and refurbishing roads and rail systems to allow for the free flow of goods.
Without it, said Robinson, trade is impossible.
For more detail, listen to the interview in the audio below.
Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:
Recommendedby NEWSROOM AI
Ad expert Andy Rice loves the funny new Savanna TV commercial.
Bruce Whitfield interviews UDM President Bantu Holomisa and EWN's Kgomotso Modise about the day’s proceedings at the PIC Inquiry.
Arabile Gumede asks Nesan Nair (stockbroker and portfolio manager at Sasfin Securities) for his stock picks of the week.
Arabile Gumede interviews Vikeshni Vandayar of the Governance and Corporate Services at Institute of Directors in Southern Africa.
Arabile Gumede interviews Warren Thompson, a financial journalist at Business Day.
Heinz Winckler - the 1st winner of SA Idols - discusses his attitude toward money (hopes and fears, successes and failures, etc.).
Short-term insurers suddenly carry a massively reduced risk burden, says consumer journalist Wendy Knowler. Getting some back?
A business tool for older generations, a staple for younger ones
This is an increase of 27 cases from Tuesday's announcement. Health Minister Zweli Mkhize has tested negative for the virus.
The Great Depression started 91 years ago and changed everything. Bruce Whitfield speaks to economic historian Keith Breckenridge.
Despite the achievement, the country still lost R100 billion in uncollected taxes, says Commissioner Edward Kieswetter.
Personal Finance expert Maya Fischer-French on the pros/cons of dipping into credit insurance vs opting for a debt relief holiday.
Absa is providing payment relief to its retail clients as well as its business banking and wealth customers.
The revered South African HIV scientist passed away at a Durban hospital on Tuesday after COVID-19-related complications.
Commissioner Edward Kieswetter says they have diverted customers to their online channels and contact centres.
Fair Practice Mediation Services director advocate Veerash Srikison says communication can breakdown in families during this time.