Zenith Int. Trade Webinar: AfCFTA Seeks Value Addition To Exports

The Secretary-General of the African Continental Free Trade Area Secretariat, Wamkele Mene has called on African countries to add value to their exports as a way of boosting the continent’s share in the world market.

Speaking at the Zenith Bank 2021 International Trade Webinar, he lamented that Africa’s combined contribution to world trade was a poor 3% with other regions contributing in double digits.

In calling for value addition to exports, he cited the case of the i-phone which according to him had most of its components shipped from Africa.

According to Mene though each i-phone could cost at least $700, most of the components which come from Africa do not yield more than $1 to the African exporters.

“This puts the need for Africa to industralise,” Mene said.

He said that the commencement of the African Continental Free Trade Agreement was an opportunity for Africa to boost its worth in global trade and move beyond the 3% level contribution.

He commended Zenith Bank and its Group Managing Director, Ebenezer Onyeagwu for the bank’s contribution and leverage of statutes to push forward continental trade and urged the bank and Africans to take judiciously use the opportunities coming the way of the continent.

Send Us A Press Statement Advertise With Us Contact Us

 And For More Nigerian News Visit GWG.NG