How logistics can drive AfCFTA implementation
Agility’s CEO for Africa Geoffrey White believes that large scale industrialization will be required for the implementation of the African Continental Free Trade Agreement and improved logistics will be at the heart of this journey. He joins CNBC Africa for more on this discussion.
Thu, 01 Sep 2022 14:49:09 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- The importance of addressing the logistical challenges in Africa to fully leverage the opportunities presented by the AfCFTA
- The need for strategic investments in digitalization, infrastructure, and capacity building to strengthen the logistics industry and support trade growth in Africa
- The changing global landscape and the shift towards local production in response to logistical disruptions, creating opportunities for African countries to enhance energy sector investments and increase self-sufficiency
The CEO for Africa at Agility, Geoffrey White, believes that large-scale industrialization will be crucial for the successful implementation of the African Continental Free Trade Agreement (AfCFTA). White emphasizes the pivotal role that improved logistics will play in this journey towards harnessing the full potential of the continent's trade opportunities. In a recent interview with CNBC Africa, White discussed how the logistics sector can drive the implementation of the Continental Trade Act. He highlighted the challenges faced by African countries in terms of infrastructure and the high costs associated with moving goods within the continent. White pointed out that in Africa, logistics account for a staggering 70% of the cost of goods, significantly higher than the 6% in more developed regions like the US. This logistical constraint limits the market access for African producers and hampers the growth potential of businesses across the continent. However, White sees a promising future with the AfCFTA creating a single market of 1.3 billion people, presenting vast opportunities for African businesses to expand their reach and thrive in a more integrated trade environment.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.
