Emily Mburu-Ndoria, Director of Trade in Services, Investment, IPR and Digital Trade at the African Continental Free Trade Agreement (AfCFTA), announced that several cooperation protocols have been signed to support and finance e-commerce in Africa. These protocols were approved by 46 African countries part of the AfCFTA, in order to stimulate investments and strengthen investor confidence in achieving sustainable development.
She made the remarks during the South-South Investment Forum, which was held on the second day of the IATF2023 Conference and Exhibition in Cairo. The event was organized by the African Export-Import Bank (Afreximbank).
She explained that the bank aims to facilitate the investment climate in Africa by adopting binding legislation and trade agreements for AfCFTA members. This would help investors do business on the continent and allow them to easily transfer goods, services and e-commerce across the region. She also mentioned the use of advanced payment methods in African and Asian markets to promote development and improve infrastructure.
She added that Afreximbank helps build various capacities to ensure the implementation of policies that boost investments and attract more investors to the African market. She urged governments to provide incentives and create a favorable business environment to facilitate trade in Africa, reduce tariffs and eliminate other non-tariff barriers. This would strengthen the interconnection between various organizations outside Africa, such as the United Nations Industrial Development Organization (UNIDO) and the Export-Import Bank of China, and establish industrial and export processing zones. investment in Africa.
She highlighted the need to increase joint investment opportunities with the Southern African and Asian regions, strengthen the partnership between the public and private sectors of the two regions and increase opportunities for digital transformation, in particularly in payment and factoring processes.