In May 2019, President Nana Addo Dankwa Akufo-Addo made a case for Ghana to host the secretariat of the Continental Free Trade Area (CFTA). In a meeting with officials from the Africa Union (AU), he said Ghana had the facilities to host the secretariat of the continental trade market coupled with Ghana’s active involvement in the activities of the union in the past decades, made the country an ideal centre.
The team leaders of the delegation, while assessing the number of countries that had offered to host the Continental Free Trade Area settled for a country that would have a significant impact on the continent by facilitating efforts to open up borders for intra-Africa trade.
Ghana just won the bid to host the Secretariat of Africa Continental Free Trade Area (AfCFTA) outdoing other countries that battled to host the African Continental Free Trade Area (AfCTA) secretariat including Kenya, Senegal, Egypt, Ethiopia, Madagascar and e-Swatini,
Ghana has won the bid to host the Secretariat of Africa Continental Free Trade Area (AfCFTA).
— Dhahabu Kenya (@dhahabukenya) July 5, 2019
African Continental Free Trade Area (AfCFTA) agreement, the world’s largest trading bloc has the potential both to boost intra-African trade by 52.3 per cent through harmonization, facilitation and coordination of trade liberalization across Africa, in general.
The trade bloc a summation of 55 member states of the African Union the agreement, with a market population of over 1.2 billion people and a total gross domestic product (GDP) of more than $3.4 trillion will facilitate inter-regional trade, through trade policy, trade facilitation, productive capacity, trade-related infrastructure, trade finance, trade information, and factor market integration, are among others.
African leaders of the AU member counties will be congregating for the AU Extra-Ordinary Summit and the first AfCTA meeting in Niamey, Niger.