44 African countries have just signed the Continental Free Trade Act (CFTA). It will allow free trade among these countries, which are going to sell and buy about 90% of their products.
Nigeria – the most important African country when talking about GDPs and population, along with South Africa – and other smaller countries, which are worth one third of Africa’s GDP, haven’t signed this deal. About 900 billion dollars against 1,500 in favour of the deal. Nigerian leading class’ behaviour avoids any kind of change of mind and divides once again a poor and underdeveloped continent.
Anyway, this deal must be welcomed with great positivity. It means a lot. It means making trades among African states easier and using African resources for African people.
Other good news: in Abidjan companies are attending the CEO Forum entitled “SHAPING THE FUTURE OF AFRICA”.
The summit’s official website says: “The AFRICA CEO FORUM brings you the best in expert opinion, updates and analysis of Africa’s economic transformation and the essential role of the continent’s private sector. Leading CEOs, heads of financial institutions and top consultants share their high-level knowledge gained through on-the-ground experience, to unleash Africa’s potential”.
They won’t draw any conclusion neither will they suggest official protocols, but at least big companies are discussing about a possible future for the continent.
And with CFTA, here is today’s good news.