African free trade zone expected to begin in 2020 - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

“We have recommended to the summit that the actual date of trading should be the 1st of July 2020,” Albert Muchanga, in charge of trade and industry at the 55-nation bloc, told AFP.However, “the ministers of trade have accepted, so naturally you would expect that the head of states will.”

The launch of the African Continental Free Trade Area , 17 years in the making, will be the major focus at the AU summit. “The biggest benefit is you are removing the fragmentation of Africa,” Muchanga said, predicting an influx of foreign capital that would create jobs and prosperity. A billion US dollars in credit has been earmarked by the African Import and Export Bank for countries requiring support, he announced.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Africa prepares for AfCFTA - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.%The 35th Ordinary Session of the Executive Council of the African Union (AU) is meeting in Niamey, Niger.%
Source: SABC News Online - 🏆 32. / 51 Read more »

Reserve Bank could sell its stake in African Bank in two years | Business | M&GThe South Africa Reserve Bank is likely to sell its stake of African Bank in the coming two years, provided the bank is financially sound and there is sufficient market appetite to take up the central bank’s stake. Why not rescue VBS bank?
Source: mailandguardian - 🏆 2. / 92 Read more »