Sean Doherty, head of trade and investment at the World Economic Forum (WEF) said at Johannesburg,yesterday (4th September 2019) , that the signing of the African Continental Free Trade Agreement (AfCATA) was useful for catalyzing political and business support for Africa. Lacing the initiatives being pursued by the WEF to realize the goal of AfCATA, he said that the Global Alliance for Trade Facilitation, a body set up by WEF to support countries in making trade facilitation reform is reasonably active in Africa. It has projects ongoing in Kenya, Ghana, Morocco, Nigeria and Zambia. For instance, in Zambia the alliance is looking at introducing customs broker licensing systems to enable companies to have an easier time working with customs brokers , which is less bureaucratic. In Ghana and Kenya, the alliance implements advanced rulings for customs to make the traders aware how much one is going to pay before goods arrive rather than waiting till the goods arrive.
Other initiatives of the alliance include allowing customs to predict the likely cargoes of long-term importers and exporters, saving time on unnecessary inspections and speeding up traffic-choked border posts. Other than these, the alliance is engaged in investment facilitation and allows would-be investors to connect easily with target companies and subcontractors and support businesses. In Ghana, the alliance is looking at making foreign investment sustainable in terms of jobs and environmental spinoffs.
