The African Continental Free Trade Area (AfCFTA) is predicted to increase Africa’s trade income by USD 450 billion by 2035 and will boost intra-African trade by more than 81 percent, according to a recent report by the World Bank.
Tag Archives: trade
Known by tourists for exquisite beaches, stunning landscapes and for being a multicultural island, Mauritius is considered as a leading country for cross-border business structuring by the international business community.
African News, Main
United States and Africa: increased engagement regarding trade creating opportunities in the African free trade area
By Virusha Subban, Partner Specialising in Customs and Trade, and Head of the Tax Practice, Baker McKenzie Johannesburg There was more good news for the successful implementation of the African Continental Free Trade Area (AfCFTA) agreement in December 2022, when a Memorandum of Understanding (MoU) was signed between the United States (US) Trade Representative and the […]
The new event facilitates strategic African trade opportunities With the number of African e-commerce users expected to exceed half a billion over the next three years, there is an increasingly urgent need for sophisticated logistics systems to strengthen and support the continent’s expanding transport infrastructure. The pandemic served as a catalyst for the advancement of […]
United National Conference on Trade and Development says Africa’s untapped export of $31 billion[1] can be achieved if Africa implements partial tariff liberalisation under the African Continental Free Trade Area (ACFTA) Agreement over the next five years. Currently, trade between African countries comprises 61% of processed and semi-processed goods. Infrastructure and the harmonisation of logistics will make the […]
DUBAI – On the sidelines of the participation of the Democratic Republic of Congo in the Expo 2020 Dubai, the National Investments Promotion Agency of the DRC (ANAPI), represented by its Director General, Mr. Anthony Nkinzo Kamole, and Dubai Investment Development Agency (Dubai FDI), represented by its Chief Executive Officer, His Excellency Mr. Fahad Al […]
By Lerisha Naidu, Partner, Competition & Antitrust; Lodewyk Meyer, Partner, Banking and Finance; Mike van Rensburg, Partner, M&A; and Virusha Subban, Partner, Customs and Trade, Baker McKenzie Johannesburg 1. Visible green shoots – rising commodity prices The pandemic closed borders and stopped trade, other than for essentials, across the continent and was the principal reason […]
By Virusha Subban, Partner and Head of Indirect Tax, Baker McKenzie Johannesburg On 2 November 2021, US President Joe Biden announced that three African countries would be terminated from the African Growth and Opportunity Act (AGOA) trade preference program, unless they took urgent action to meet statutory eligibility criteria by 1 January 2022. The three […]
The Luanda-Bengo Special Economic Zone (ZEE) launched a useful new tool for investors, the GAI (Guiché de Apoio ao Investidor), or Investor Support Office, which in addition to supporting the presidential directive to facilitate access for national and foreign investors, will eliminate bureaucratic obstacles that can hinder the actions of those who want to access […]
The impact of the pandemic on global supply chains has prompted governments around the world to look at ways to fix the broken links. In Africa, the launch of African Continental Free Trade Area (AfCFTA), has provided the continent with new opportunities to strengthen its regional supply chain. Virusha Subban, Head of Indirect Tax at […]
By Virusha Subban, Partner and Head of Indirect Tax at Baker McKenzie in Johannesburg According to China’s Ministry of Commerce, trade between China and Africa increased by 40.5 percent year-on-year in the first seven months of 2021, and was valued at a record high of USD 139.1 billion. The Ministry noted that African products were […]
The event witnessed the participation of 101 expert speakers, 2092 participants from 99 countries, with 41 countries from Africa and over 47 global exhibitors. The Annual Investment Meeting successfully concluded AIM AFRICA Digital Edition which took place from the 29th – 30th of June 2021 via Events10x platform under the theme “Africa Unlocked: Innovation and […]
A solid awards strategy can help you build credibility through third-party validation that will make your olive oil brand stand out to target audiences. CIOOC speaks for the quality of the olive oils and their position in the market, and also about the overall performance of a brand in the market. Montreal– April 16, 2021 […]
Consumers are embracing the e-commerce experience in growing numbers and corporate South Africa is taking serious notice, according to Geoff Hardy, Head of Digital, Immersion Group, a global team of experience design experts. Across the globe online sales have surged, while locally online transactions on Black Friday alone grew by more than 60%, and a recent […]
With the growth of economies across Africa, competition law has remained one of the key drivers for effective market participation, consumer protection and fair business practices. However, the global pandemic introduced new challenges for competition authorities in Africa and abroad, with each enforcer pursuing the most beneficial enforcement method for its national or regional jurisdiction. […]
AI Expo Africa — the continent’s largest annual gathering of buyers and suppliers of Artificial Intelligence (AI), Robotic Process Automation (RPA) and Fourth Industrial Revolution (4IR) smart technologies — is set to have its biggest edition this year as 4 600 delegates and several international and local sponsors have already registered to attend the trade show […]
– Project first started in 2016 where vCargo Cloud (“VCC”) worked on a Proof-of-Concept (“POC”) platform for the project – Completion of project will see seamless transmission of trade-related documents between participating EAC SCT member authorities. KENYA, 30 March 2021: Singapore’s GUUD (Africa) Pte. Ltd, via its wholly owned subsidiary, vCargo Cloud Kenya Limited., has […]
Disruption arising from COVID-19 has accelerated trends already apparent in the industrials market –– particularly digitalisation and trade volatility –– and transformation has gone from a “nice to have” to a necessity, according to the latest findings from Baker McKenzie. The law firm surveyed 700 company leaders in six industrial sub-sectors in early 2020, and […]
In 2020, 95% of all kidnappings at seas took place in the Gulf of Guinea. There, pirates, equipped with firearms, frequently enter ships, capture the crew, and steal cargo. Pirates are becoming more and more advanced in their tactics and the majority of attacks are carried out in hopes of getting ransom. Piracy creates problems […]
Speaking at the International Petroleum (IP) Week on February 25, 2021, I commended Nigeria for its efforts in driving gas monetization, but we have to be clear that our industry and hardworking people remain frustrated by the delays and inability to pass and sign the Petroleum Industry Bill. There needs to be that fierce sense […]
Business, Main, South Africa News
The top 5 reasons why investing in Ireland makes sense for African businesses
By Daireann Gibson, Managing Partner at Gibson & Associates Solicitors Ireland is becoming an increasingly popular destination for individuals from across Africa who are looking to move abroad. South Africa in particular has seen 3,000 immigrants choose Ireland as their new home, and for investors in particular, Ireland provides a wealth of opportunities. The relationship […]
Appliance giant Defy to aid in the advancement of projects that ensure the sustainability of trade, natural resources, and life in Africa From 5 – 7 March 2021, leading manufacturer of home appliances, Defy, will be hosting the Hack The Normal online hackathon with the aim of exploring how technology can be leveraged for sustainable living and economic development […]