Monday, August 25, 2025
NewsCenta
  • Home
  • News
    • Politics
    • Local
    • Education
    • Agriculture
    • World
  • Entertainment
    • Celebrities
    • Music
  • Lifestyle
  • Business
  • Sports
  • Tech
  • Opinion
No Result
View All Result
NewsCenta
  • Home
  • News
    • Politics
    • Local
    • Education
    • Agriculture
    • World
  • Entertainment
    • Celebrities
    • Music
  • Lifestyle
  • Business
  • Sports
  • Tech
  • Opinion
No Result
View All Result
NewsCenta
No Result
View All Result

AfDB, allies unite for customs, common market

African Development Bank partners with regional bodies to streamline customs procedures and advance a unified continental market

NewsCenta by NewsCenta
July 29, 2025
in Business
0
AfDB
Share on FacebookShare on Twitter

The African Development Bank Group (AfDB) and institutional partners made a compelling case for accelerating the African Continental Free Trade Area (AfCFTA) during the launch of the 11th Edition of the Assessing Regional Integration in Africa (ARIA XI) report.

The African Continental Free Trade Area, signed by 54 African countries and already operational in its initial phases, represents a critical step towards creating a unified African market.

You might also like

Treasury Bill auction undersubscription

Govt Treasury Bill auction records 29% undersubscription

August 25, 2025
Wilful loan BoG Fitch banks

6 banks face possible mergers or bailouts – Fitch

August 25, 2025

The launch took place on Saturday, 12 July in the Equatorial Guinean capital, Malabo.

It was themed: “Delivering on the African Economic Community: Towards an African Continental Customs Union and African Continental Common Market.”

The event emphasised the importance of Africa’s integration, presenting it as an urgent necessity and a development pathway the continent cannot afford to delay.

African Development Bank Group Director for Regional Integration Coordination Dr. Joy Kategekwa emphasized that integration is the only viable route to meaningful industrialisation and broad-based economic empowerment on the continent.

“Africa’s integration is a development pathway of necessity, and with that in mind, all of us sitting at this table are called to reflect… Can we afford the price of failure?” she asked in remarks made on behalf of the Bank.

“The AfCFTA itself, being a free trade area, does not give us the legal answer to how we deal with third countries—those outside the agreement, she said, adding that only a customs union can provide the mechanism for a common external tariff and coordinated trade policy to protect Africa’s internal market.

In addition to roads and railways, the African Development Bank is investing in ICT, energy, water, and trade finance to strengthen connections across African economies and drive intra-African commerce.

“But it’s more than just building infrastructure—it is also about encouraging production. Ultimately, it’s about putting more money in people’s hands by fully bringing them into the integration process,” Dr. Kategekwa said.

The African Union Commission described the AfCFTA as a “monumental milestone” in Africa’s journey toward economic unity as envisioned in the 1991 Abuja Treaty.

“To truly unlock our continent’s potential for inclusive growth and sustainable development, we must now accelerate our efforts towards an African Continental Customs Union and a Common Market,” said Moses Vilakati – AU Commissioner for Agriculture.

He called for the dismantling of existing barriers and the harmonisation of national and regional policies to create a stronger, more resilient African economy that can compete on the global stage.

On behalf of Claver Gatete, Executive Secretary of the United Nations Economic Commission for Africa (ECA),  Aboubakri Diaw hailed the report as more than just a research document.

“ARIA XI is not just another report on Africa’s integration—it is a forward-looking, intellectually grounded, and practical policy tool for deepening the continent’s integration and enhancing its competitiveness in an increasingly complex global geopolitical landscape,” Diaw said.

He urged African leaders and institutions to commit fully to the implementation of the AfCFTA and work boldly toward establishing a customs union and common market.

Integration as a strategy for survival and prosperity

ARIA XI, developed through a collaboration between the AfDB, AUC, and ECA, offers that roadmap—and its recommendations, if implemented, could fundamentally reshape Africa’s economic landscape for generations to come.

A key highlight of the event was a panel discussion on “The Role of Regional Economic Communities (RECs) in Deepening Africa’s Integration: The Journey Towards the African Economic Community.”

Panellists included Dr. Omar Alieu Touray, President of the ECOWAS Commission; Ambassador Gilberto Da Piedade Verissimo, President of the ECCAS Commission and H.E El Hadji Abou – Executive Secretary of the Community of Sahel-Saharan States (CEN-SAD).

Kategekwa summarised the spirit of the report and the discussions around it:

“We do not only dare to dream in talking about how we deliver the African Economic Community,” she said. “We talk about the specificities of how we go about it.”

Post Views: 76
Tags: African Continental Free Trade AreaAfrican Development Bank Group
NewsCenta

NewsCenta

Related Stories

Treasury Bill auction undersubscription

Govt Treasury Bill auction records 29% undersubscription

by NewsCenta
August 25, 2025
0

Ghana’s latest Treasury bill auction fell short of target as investor demand weakened sharply, raising concerns over short-term government financing....

Wilful loan BoG Fitch banks

6 banks face possible mergers or bailouts – Fitch

by NewsCenta
August 25, 2025
0

Ghana’s financial industry may be on the cusp of another round of consolidation, with Fitch Ratings projecting that six banks...

Republic Bank SME

Republic Bank drives SME growth with seminar

by NewsCenta
August 24, 2025
0

Republic Bank Ghana has reaffirmed its commitment to being the go-to financial partner for Small and Medium Enterprises (SMEs) and...

Fidelity Bank agents

Fidelity Bank adds 892 new agents, surpasses 8,000

by NewsCenta
August 24, 2025
0

Fidelity Bank Ghana has reaffirmed its leadership in financial inclusion by successfully hosting the 2025 edition of its Agents Certification...

Recommended

Kinaata helicopter crash

30 days probe into helicopter crash that killed 8 begins

August 25, 2025
Treasury Bill auction undersubscription

Govt Treasury Bill auction records 29% undersubscription

August 25, 2025
Akwatia by-election Police

Akwatia by-election: Police arrest 10 suspects, retrieve weapons

August 25, 2025

Popular Story

  • Songs Daddy Lumba

    See the list of over 200 songs Daddy Lumba released

    736 shares
    Share 294 Tweet 184
  • Gold-backed policies since 2021 driving economic gains — BoG

    707 shares
    Share 283 Tweet 177
  • 10 of top 11 causes of death killing more men in Ghana

    697 shares
    Share 279 Tweet 174
  • Bissue floors High Court and OSP at Supreme Court

    689 shares
    Share 276 Tweet 172
  • Monday, May 26, 2025 Newspaper Headlines

    675 shares
    Share 270 Tweet 169
NewsCenta

Newscenta is a Ghana-based news organisation publishing in print (The Newscenta Newspaper) and on a digital media platform (newscenta.com) dedicated to delivering timely and impactful news across various sectors, including politics, business, economy, technology, and culture.

  • About Us
  • Contact Us
  • Health
  • Education
  • Mining
  • Energy
  • Telecoms
  • Agriculture
  • Trade
  • Opinion
  • Videos

© 2025 All Rights Reserved NewsCenta.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • News
    • Politics
    • Local
    • World
  • Entertainment
    • Celebrities
    • Music
  • Lifestyle
  • Newspaper Headlines
  • Business
  • Agriculture
  • Education
  • Sports
  • Tech
  • Opinion

© 2025 All Rights Reserved NewsCenta.

Connect with us