World
AfCFTA Will Double Intra-Africa Trade Flows—Anatogu
By Adedapo Adesanya
The African Continental Free Trade Area (AfCFTA) will help to deepen economic integration in the continent, says the Senior Special Assistant to the President on Public Sector Matters and Secretary of the National Action Committee on AfCFTA, Mr Francis Anatogu, as part of a continued effort to drive implementation.
Mr Anatogu also said that AfCFTA’s goals will also improve and expand intra-Africa trade, enable rule-based engagement for facilitating dispute resolution and addressing injurious trade practices.
He made this known on Monday at a leadership stakeholders’ consultation on the theme ‘Defining the Trade in Service Strategy for AfCFTA’.
Mr Anatogu said the agreement will also serve as the foundation for the establishment of a continental Customs Union.
He expressed optimism that if effectively implemented, the AfCFTA will result in the elimination of tariffs on 90 per cent of tariff lines, adding that product-specific rules of origin will help to grow African content.
Mr Anatogu also stated that the pact would assist in the harmonisation of policies, regulations and standards, as well as lead to customs co-operation and mutual administrative assistance.
The AfCFTA, according to him will double intra-Africa trade flows, currently at 15 per cent as well as double Africa’s share of world trade from three per cent to six per cent over the next 10 years.
In a similar vein, Professor John Aremu said at the forum that while it is right for Nigeria to ratify the agreement, the constitution provides that such treaties entered into can only become beneficial to the nation if it has a place inside the Nigerian law to guarantee enforceability.
Mr Aremu, who is a Professor of International Economic Relations at Covenant University, urged stakeholders to facilitate the domestication of AfCFTA as enshrined in the constitution, in order to ensure utmost benefits accrues to Nigeria.
The academic who doubles as a consultant of ECOWAS Common Investment Market stated this during his presentation titled “Conceptual Issues in Africa Integration Emergence of AfCFTA, and Its Protocol”.
He said, “If AfCFTA cannot be domesticated into the national law, it cannot be deployed in defence of cases involving their violations before courts of law in the country, neither can they be used for the advocacy of rights within the country.
“Further to this, violators of AfCFTA provisions, whether they be institutions, companies or individuals cannot be held accountable, since the AfCFTA treaty has not been domesticated in the country”.
This he said can be supported by section 12(1) of the constitution of the Federal Republic of Nigeria, 1999, about Implementation of treaties which states that “no treaty between the federation and another country shall have the force of the law except to the extent to which any such treaty has been enacted into law by the National Assembly”.
He further said failure or lateness for Nigeria to domesticate AfCFTA will cause unreasonable hardship on other AU member states that intend to have commercial relationships with the country under the continental economic integration.
This he said will further discourage reading and affect the inflow of investments into Nigeria and also stunt the growth of the law in the country.
He also advocated the need for an upgrade of the overall quality of the nation’s physical infrastructure like roads, rail, port facilities, telecommunications, which are prerequisites to profitable intra-African trade
The professor also called for the use of an online information portal, single windows, digital documentation, Pan African Payment and Settlement System (PAPSS), electronic Certificates and signatures and automated processing of trade declaration which would help simplify, streamline and expedite trade-related procedures at the borders.
For Nigeria to fully benefit from AfCFTA, Professor Aremu said Nigeria must reduce the infrastructural deficit by building on ongoing efforts and also reduce other critical NBTs such as customs and other administrative requirements that directly affect the capacity of economies to trade merchandise within and outside their borders.
Other suggestions from Professor Aremu include improving trade facilitation commitments of the country as regards categories A, B, and C with WTO/TFA as a priority area for reforms while also ensuring a strong institutional and governance framework in the implementation of AfCFTA.
On commencement of AfCFTA, the Don said beyond boosting Intra-Africa trade, the larger market offered by AfCFTA is expected to trigger investment, leading to high productivity and addition to the continent’s value chain, providing more and better jobs and further enlarging the continental market.
Additionally, he said despite the high level of political momentum around AfCFTA, the ultimate success depends on African states not merely ratifying the treaty but repositioning themselves towards complying with demands in the AfCFTA.
He said while other continents have increased intra- trade among them, Africa still lags behind in trading within itself.
“Intra-Africa trade is about 12 per cent, compared to North America Free Trade Area (NAFTA) of 40 per cent and 63 per cent between economies of Western Europe and 30 per cent for ASEAN.
“There can never be any good reason why it is easier for us to trade with Asia, Europe and America, rather than with fellow Africans” Professor Aremu quoted former Ghanaian President, John Mahama as saying.
The academic said African countries can improve intra-trade among themselves by adopting trade diversion, which entails abandoning the lowest cost producer like China and importing the same product from a member of the union.
Mr Aremu also said the policy of trade creation where the country with comparative advantage is allowed to produce a particular product while others patronize it can be employed.
“By bringing down the barriers to trade between Nigeria and Egypt, the imports from Egypt will become cheaper than the ones produced by companies within Nigeria and those imported from China, since import duties remain on China, thereby creating more trade from Egypt,” he narrated.
Mr Aremu lamented over Africa’s contribution to global trade volume and blamed the lack of proper renegotiation of global agreements to integrate the continent and increase her participation in the global trade.
According to him, “Africa accounts for about 3 per cent of the global trade despite Doha Development Agenda (DDA) of the WTO, AGOA of USA and ECAs of EU; all of which have not been negotiated to enable Africa’s successful integration into the global economy despite promises”.
Speaking further on the African situation, he said: “Africa accounts for just 2.4 per cent of global GDP; has approximately 30 per cent of the earth’s remaining mineral resources; largest reserve of precious metals, over 40 per cent of gold reserves, over 60 per cent of cobalt and 90 per cent of platinum reserves, yet Africa is the world’s poorest and underdeveloped”.
Irvine Partners, a leading creative communications agency with offices in Africa and Europe, has signed an exclusive licence with Dreaminfluence as their Africa partner. Dreaminfluence, an all-in-one platform that empowers brands to build and scale influencer marketing has executed 1,000s of influencer campaigns and worked with over 20,000 influencers.
This innovative platform’s digital capabilities will support the content creators who are driving Africa’s rapidly expanding $3.08 billion creator economy. Despite creators on the continent taking advantage of platforms like TikTok, African creators still earn significantly less than their counterparts in other regions, despite producing high-quality content. Furthermore, infrastructure limitations and a digital skills gap hinder the progress of the creator ecosystem.
Monetization should not be out of reach for African creators says Rachel Irvine, CEO of Irvine Partners. She adds that “Dreaminfluence provides digital infrastructure and connects creators to brands, backing their work so they too can unlock opportunities while brands can grow their reach with authentic content that resonates with audiences.”
Dreaminfluence CEO, Mads Wedderkopp, explains “We have worked with many leading brands in the Nordics and are excited to finally bring our platform to Africa through this exclusive partnership with Irvine Partners.”
“The decision to work with Irvine Partners as our Africa partner was a no-brainer, given the roster of clients they serve, and their continental and European footprint.”
Some of the leading brands that use Dreaminfluence for their influencer campaigns are Nivea, L’Occitane, and Estee Lauder Group.
How it works
Dreaminfluence was founded in 2018, to transform influencer marketing from being about affiliate links and discount codes to focusing on actual brand ambassadorship. This vision is translated into the features that Dreaminfluence offers, for both brands and influencers.
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Apply to join a brand team or campaign through the app
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Be selected as part of the ambassador team
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Join new campaigns when they are published
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Run all campaign admin including payments, content ideas, and approvals through the app
The Dreaminfluence difference
Irvine Partners is constantly working with influencers across Africa on different campaigns for its clients and Dreaminfluence provides an innovative way to streamline agency relations with leading and emerging content creators on the continent.
Mohale Moloi, Content Director at Irvine Partners explains that “creator marketing studies tell us that more than 50% of brands plan to increase their spending on influencer marketing in 2025. But making sure these campaigns deliver results across the whole marketing funnel requires an in-depth understanding of market nuances, which is what we bring to the table.”
By working with a dynamic platform like Dreaminfluence, Irvine Partners will take influencer campaigns to the next level by combining local insights with a platform that makes everything from campaign selection to payments more efficient.
“We are most excited about the actionable campaign data and high ROI that Dreaminfluence offers,” says Moloi.
By Louis Gouend
The Cameroonian diaspora in the Russian Federation, although relatively recent, constitutes an essential vector for Cameroon’s influence and the maintenance of strong ties with the nation. In this perspective, and following a fruitful video conference on January 27, 2024, with the Minister of Youth and Civic Education, it was decided to organize, on February 8 and 11, 2025, the first celebration of Youth Day within the Russian diaspora.
This unprecedented initiative, benefiting from the Minister’s valuable support, aimed to consolidate patriotism and the spirit of initiative among Cameroonian youth residing in Russia, by offering a framework for exchange and promotion of Cameroonian cultural wealth. It mobilized Cameroonian students, young professionals, and entrepreneurs established in Russian territory.
The commemoration of the 59th anniversary of Cameroon’s Youth Day took the form of a dual celebration: a physical meeting at the Cameroonian Embassy in Moscow on February 8, 2025, and a virtual meeting on Zoom on February 11, 2025. These events brought together a total of more than 150 participants from over 50 cities in Russia, representing diverse backgrounds, including presidents of Cameroonian associations, members of the Diaspocam executive council, deans, honorary guests, and embassy officials.
The diaspora had the honour of welcoming, via video conference, Mr Mounouna Foutsou, Minister of Youth and Civic Education, whose encouragement and vision were a source of inspiration. The Minister outlined the productive initiatives implemented by the Cameroonian government in favour of its youth in the diaspora in Russia, emphasizing the willingness to support projects led by young entrepreneurs through a specific support mechanism and the operationalization of the guarantee fund.
During his address, the Minister recalled the commitments made during the video conference of January 27, 2024, emphasizing the need for increased collaboration between the government and the youth of the diaspora. He stressed the immense potential represented by this youth and reaffirmed the government’s commitment to addressing their concerns.
Among the initiatives put in place to support the youth of the diaspora, he mentioned:
- The Guarantee Fund for Young Entrepreneurs (FOGAJEUNE), which finances projects in four key sectors (agriculture, digital economy, industry/crafts and technological innovation).
- The special DIALYJ window, designed to promote co-ventures between young people from Cameroon and the diaspora.
- The Program to Aid the Return and Integration of Young People from the Diaspora (PARIJEDI), which facilitates the return and integration of young people in Cameroon.
“We express our deep gratitude to the Cameroonian government and personally to Minister Mounouna Foutsou for their support of our initiative,” said the President of Diaspocam, Louis Gouend. “Thanks to their assistance and the support of the Cameroonian Embassy in Russia, we were able to organize this important event, which has strengthened ties between the diaspora and Cameroon.”
Aware of the positive impact of this first celebration, we hope that this innovative initiative will be included in the calendar of activities of the Ministry of Youth and Civic Education for the years to come.
Diaspocam establishes a legal platform to come together, helps each other, interacts and establishes viable strategic networks and partnerships; presents, shares and expands proven diaspora business models; promotes and assists businesses and investments in Cameroon.
It strengthens a good image of Cameroon in Russia while maintaining close liaison with the Cameroonian and Russian governments and any other representative body pursuing objectives similar to those of the Association. Cameroonian Diaspora in the Russian Federation is a public organization which encourages participation, representation, diversity and cooperation between Cameroon, African diaspora and Russian society.
By Adedapo Adesanya
The African Union has announced the launch of its rating agency, the African Credit Rating Agency (AfCRA) to provide accurate ratings for countries on the continent.
According to Kenya’s President, Mr William Ruto, while unveiling the new agency at an AU event held in Addis Ababa, Ethiopia on Friday, AfCRA will address biases by global rating firms.
Global firms like Moody’s, Fitch and Standard & Poor (S&P) are some of the ratings agency which provide insights into African countries to aid investors and stakeholders.
There have been criticisms that these ratings lead to higher borrowing costs for African countries and make it harder for them to access international financial markets.
“Global credit rating agencies have not only dealt us a bad hand, they have also deliberately failed Africa,” Mr Ruto stated during the launch.
“They rely on flawed models, outdated assumptions, and systemic bias, painting an unfair picture of our economies and leading to distorted ratings, exaggerated risks, and unjustifiably high borrowing costs.”
According to President Ruto, improving Africa’s rating by one notch could unlock $15.5 billion in additional funding for the continent, which could help replace a significant portion of official development assistance or be invested in Africa’s infrastructure needs.
Despite Africa’s abundant natural wealth, only two African nations are currently ranked as investment grade.
“It is time for Africa to use the right scale, one that reflects its true weight,” Mr Ruto added.
The African Union has previously criticized global rating agencies’ characterization of African economies. In January, the AU pointed out that Moody’s Ratings’ fluctuating assessment of Kenya’s outlook was flawed.
“As the continent continues its march towards economic integration and resilience, the establishment of the African Credit Rating Agency (AfCRA) represents a pivotal step in asserting Africa’s position on global financial governance.”
The agency aims to provide fair, transparent, and development-focused credit ratings that reflect the realities and potential of African economies.
The idea comes more than a year since the AU officially announced its plans to move forward with the project since September 2023.
The push for an African credit rating agency became viable in 2022 when Senegal’s former president Macky Sall, then the chairman of the AU, called for a new system to “end the injustices” faced by African countries.
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