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African Continental Free Trade Area (AfCFTA).
capitalism
#1 Posted : Friday, March 23, 2018 12:33:47 PM
Rank: New-farer


Joined: 4/12/2011
Posts: 26
Hi guys, i wonder why you all think about this Deal our african leaders just signed.Apart from the influx of people seeking greener pastures from countries with weaker economies to those with good economies.From us investors and people looking to do cross border business, the idea is noble but i dont think Africa is ready for this.
Ericsson
#2 Posted : Friday, March 23, 2018 12:50:52 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,639
Location: NAIROBI
capitalism wrote:
Hi guys, i wonder why you all think about this Deal our african leaders just signed.Apart from the influx of people seeking greener pastures from countries with weaker economies to those with good economies.From us investors and people looking to do cross border business, the idea is noble but i dont think Africa is ready for this.


Good on paper but difficult to implement
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Rongla
#3 Posted : Friday, March 23, 2018 3:22:53 PM
Rank: Member


Joined: 10/3/2008
Posts: 101
Its a bad deal for Kenya and Africa itself. AU itself is dysfunctional. Africa lacks leadership. The best approach would have been strengthening already existing regional trade bodies such ECOWAS SADC COMESA AND EAC before going continental.
Africa is so much riddled with corruption and ineptness. This deal will kill Manufacturing, Agriculture and Job creation
What will stop china from dumping trillions of substandard and counterfeit goods in countries with weak controls or No controls to be sold AfCFTA. Who will stop Sugar and Grains cartels importing cheaply from Brazil etc and re-branding for sale in the Free trade area ( Well its already happening here in Kenya)

What Africa should do is strengthen its Manufacturing especially Motor, Machinery, Pharmaceuticals, Agricultural, clothing, electricals and other consumables. It should also try and "own" its resources through processing and value addition rather than exporting raw materials
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